TCTC Holdings LLC Purchases 200 Shares of Chubb Limited (NYSE:CB)

TCTC Holdings LLC boosted its position in shares of Chubb Limited (NYSE:CB) by 0.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 243,376 shares of the financial services provider’s stock after buying an additional 200 shares during the period. Chubb makes up approximately 2.6% of TCTC Holdings LLC’s investment portfolio, making the stock its 8th largest position. TCTC Holdings LLC owned about 0.06% of Chubb worth $73,497,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its stake in shares of Chubb by 79.5% in the 1st quarter. Meeder Asset Management Inc. now owns 271 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 120 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in Chubb by 5.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 9,167 shares of the financial services provider’s stock valued at $2,768,000 after buying an additional 433 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in Chubb by 8.5% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,829 shares of the financial services provider’s stock valued at $552,000 after buying an additional 143 shares during the last quarter. Baldwin Investment Management LLC raised its holdings in Chubb by 27.7% in the 1st quarter. Baldwin Investment Management LLC now owns 6,262 shares of the financial services provider’s stock valued at $1,891,000 after buying an additional 1,357 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Chubb by 51.6% in the 1st quarter. Mackenzie Financial Corp now owns 97,725 shares of the financial services provider’s stock valued at $29,512,000 after buying an additional 33,259 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chubb

In related news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the sale, the insider owned 91,180 shares of the company’s stock, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the transaction, the director owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 100,390 shares of company stock valued at $29,163,135 in the last quarter. 0.86% of the stock is currently owned by company insiders.

Chubb Stock Performance

Shares of CB stock opened at $265.87 on Tuesday. The company has a market cap of $106.54 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $283.97 and a 200-day moving average of $282.52.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping the consensus estimate of $5.84 by $0.30. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $5.38 EPS. On average, equities analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb announced that its board has initiated a stock repurchase plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were given a dividend of $0.97 per share. This is an increase from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.46%. Chubb’s dividend payout ratio (DPR) is 17.12%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CB. Morgan Stanley raised their price objective on shares of Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Jefferies Financial Group raised their price objective on shares of Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a report on Friday, April 11th. Keefe, Bruyette & Woods raised their price target on shares of Chubb from $314.00 to $324.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Finally, UBS Group lowered their price target on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb has an average rating of “Moderate Buy” and an average target price of $303.14.

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.