Chubb Limited (NYSE:CB) Shares Purchased by Altman Advisors Inc.

Altman Advisors Inc. boosted its holdings in Chubb Limited (NYSE:CB) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,498 shares of the financial services provider’s stock after buying an additional 128 shares during the period. Altman Advisors Inc.’s holdings in Chubb were worth $2,145,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Peoples Bank KS acquired a new position in shares of Chubb in the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Chubb during the 1st quarter valued at about $25,000. North Capital Inc. purchased a new stake in shares of Chubb during the 1st quarter valued at about $26,000. Crowley Wealth Management Inc. purchased a new stake in shares of Chubb during the 4th quarter valued at about $29,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Chubb by 254.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock valued at $34,000 after buying an additional 89 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Keefe, Bruyette & Woods lifted their price objective on Chubb from $314.00 to $324.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Jefferies Financial Group lifted their price objective on Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a report on Friday, April 11th. Wells Fargo & Company lifted their price objective on Chubb from $278.00 to $285.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Finally, Barclays downgraded Chubb from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $321.00 to $298.00 in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $307.13.

Chubb Trading Down 1.6%

NYSE:CB opened at $275.63 on Wednesday. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The firm has a market capitalization of $110.45 billion, a P/E ratio of 13.26, a P/E/G ratio of 3.12 and a beta of 0.53. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The business has a 50 day simple moving average of $287.00 and a 200 day simple moving average of $282.25.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 12.37% and a net margin of 15.05%. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. Equities research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were issued a $0.97 dividend. This is a positive change from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.41%. Chubb’s dividend payout ratio is 18.67%.

Chubb announced that its Board of Directors has initiated a stock repurchase program on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Chubb

In other news, insider John J. Lupica sold 5,513 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares of the company’s stock, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John W. Keogh sold 9,794 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the sale, the chief operating officer directly owned 247,538 shares of the company’s stock, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,390 shares of company stock valued at $29,163,135. Insiders own 0.86% of the company’s stock.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.