Woodley Farra Manion Portfolio Management Inc. lessened its position in shares of Chubb Limited (NYSE:CB – Free Report) by 49.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,009 shares of the financial services provider’s stock after selling 126,209 shares during the quarter. Chubb comprises about 1.7% of Woodley Farra Manion Portfolio Management Inc.’s investment portfolio, making the stock its 28th largest position. Woodley Farra Manion Portfolio Management Inc.’s holdings in Chubb were worth $24,949,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Guardian Wealth Advisors LLC acquired a new position in Chubb during the first quarter valued at approximately $25,000. ICA Group Wealth Management LLC acquired a new stake in Chubb during the 4th quarter worth approximately $25,000. Grey Fox Wealth Advisors LLC acquired a new stake in Chubb during the 4th quarter worth approximately $27,000. Hollencrest Capital Management bought a new position in Chubb during the 4th quarter worth $30,000. Finally, Altshuler Shaham Ltd bought a new position in Chubb during the 4th quarter worth $47,000. Institutional investors and hedge funds own 87.39% of the company’s stock.
Analyst Ratings Changes
CB has been the topic of a number of recent research reports. Barclays raised their price objective on Chubb from $260.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. StockNews.com initiated coverage on Chubb in a research note on Thursday. They issued a “buy” rating on the stock. BMO Capital Markets lifted their price target on Chubb from $200.00 to $210.00 in a research note on Thursday, July 27th. Morgan Stanley lifted their price target on Chubb from $192.00 to $209.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 1st. Finally, Piper Sandler reduced their price objective on Chubb from $248.00 to $237.00 in a research report on Thursday, July 6th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $242.79.
View Our Latest Stock Report on CB
Chubb Stock Performance
Shares of NYSE:CB traded down $0.66 during trading on Friday, hitting $199.38. 483,397 shares of the company were exchanged, compared to its average volume of 1,814,130. The company has a market cap of $81.89 billion, a PE ratio of 14.33, a P/E/G ratio of 1.11 and a beta of 0.64. The stock has a 50 day moving average of $195.97 and a 200 day moving average of $198.98. Chubb Limited has a 52-week low of $173.78 and a 52-week high of $231.37. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.34 and a quick ratio of 0.34.
Chubb (NYSE:CB – Get Free Report) last released its earnings results on Tuesday, July 25th. The financial services provider reported $4.92 EPS for the quarter, beating analysts’ consensus estimates of $4.41 by $0.51. Chubb had a return on equity of 13.56% and a net margin of 12.47%. The business had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $11.24 billion. During the same quarter in the prior year, the firm earned $4.20 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts predict that Chubb Limited will post 18.18 EPS for the current year.
Chubb Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be given a $0.86 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.44 annualized dividend and a yield of 1.73%. Chubb’s dividend payout ratio (DPR) is presently 24.71%.
Chubb declared that its board has initiated a stock buyback program on Monday, June 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Insider Activity at Chubb
In related news, insider John J. Lupica sold 8,398 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $211.74, for a total value of $1,778,192.52. Following the transaction, the insider now directly owns 154,049 shares of the company’s stock, valued at approximately $32,618,335.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Chubb news, insider John J. Lupica sold 8,398 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $211.74, for a total value of $1,778,192.52. Following the completion of the sale, the insider now owns 154,049 shares of the company’s stock, valued at $32,618,335.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Annmarie T. Hagan sold 1,187 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $211.81, for a total transaction of $251,418.47. Following the completion of the sale, the chief accounting officer now directly owns 13,234 shares of the company’s stock, valued at approximately $2,803,093.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,534 shares of company stock valued at $2,635,175. 0.37% of the stock is owned by corporate insiders.
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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.
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