Virginia Wealth Management Group Inc. Has $5.40 Million Stake in Chubb Limited (NYSE:CB)

Virginia Wealth Management Group Inc. cut its stake in Chubb Limited (NYSE:CB) by 6.9% in the first quarter, Holdings Channel reports. The institutional investor owned 17,893 shares of the financial services provider’s stock after selling 1,318 shares during the period. Chubb makes up about 3.3% of Virginia Wealth Management Group Inc.’s investment portfolio, making the stock its 4th biggest holding. Virginia Wealth Management Group Inc.’s holdings in Chubb were worth $5,403,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CB. Demars Financial Group LLC lifted its position in Chubb by 26,761.4% in the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider’s stock worth $1,481,094,000 after buying an additional 5,340,499 shares during the last quarter. Norges Bank bought a new stake in shares of Chubb during the fourth quarter worth $1,169,720,000. Raymond James Financial Inc. bought a new stake in shares of Chubb during the fourth quarter worth $1,158,897,000. GAMMA Investing LLC lifted its position in shares of Chubb by 36,831.3% during the first quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider’s stock worth $629,357,000 after purchasing an additional 2,078,390 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Chubb by 46.7% during the fourth quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider’s stock worth $1,217,392,000 after purchasing an additional 1,403,545 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chubb

In other news, CAO George F. Ohsiek sold 763 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the sale, the chief accounting officer now owns 20,044 shares in the company, valued at approximately $5,820,978.04. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total value of $4,367,177.76. Following the sale, the executive vice president now owns 29,194 shares in the company, valued at $8,644,927.28. The trade was a 33.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,619 shares of company stock worth $35,758,738 over the last quarter. Insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of several research analyst reports. Barclays decreased their target price on Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Wells Fargo & Company lifted their target price on Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Raymond James reiterated a “strong-buy” rating on shares of Chubb in a research report on Thursday, April 24th. Finally, HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price for the company in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $307.53.

Chubb Stock Performance

CB stock opened at $286.25 on Wednesday. The business has a 50-day moving average price of $287.07 and a 200 day moving average price of $281.75. Chubb Limited has a 1-year low of $251.42 and a 1-year high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The company has a market capitalization of $114.71 billion, a P/E ratio of 12.60, a PEG ratio of 3.36 and a beta of 0.54.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. As a group, equities research analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb announced that its Board of Directors has authorized a share buyback program on Thursday, May 15th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Chubb’s previous quarterly dividend of $0.91. Chubb’s payout ratio is 18.67%.

Chubb Company Profile

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.