Elo Mutual Pension Insurance Co lifted its position in shares of Chubb Limited (NYSE:CB – Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,141 shares of the financial services provider’s stock after acquiring an additional 810 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Chubb were worth $6,435,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Guardian Wealth Advisors LLC acquired a new position in shares of Chubb during the 1st quarter worth approximately $25,000. ICA Group Wealth Management LLC acquired a new position in shares of Chubb during the 4th quarter worth approximately $25,000. Grey Fox Wealth Advisors LLC acquired a new position in shares of Chubb during the 4th quarter worth approximately $27,000. Hollencrest Capital Management acquired a new position in shares of Chubb during the 4th quarter worth approximately $30,000. Finally, Altshuler Shaham Ltd acquired a new position in shares of Chubb during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.
Insiders Place Their Bets
In other Chubb news, insider John J. Lupica sold 8,398 shares of Chubb stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $211.74, for a total transaction 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 approximately $32,618,335.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Annmarie T. Hagan sold 1,187 shares of Chubb stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $211.81, for a total value of $251,418.47. Following the completion of the sale, the chief accounting officer now owns 13,234 shares of the company’s stock, valued at approximately $2,803,093.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John J. Lupica sold 8,398 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $211.74, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 22,534 shares of company stock worth $4,645,275. Corporate insiders own 0.37% of the company’s stock.
Chubb Price Performance
Chubb stock traded up $2.04 during mid-day trading on Friday, hitting $202.91. The company’s stock had a trading volume of 306,811 shares, compared to its average volume of 1,785,564. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $83.34 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.10 and a beta of 0.64. Chubb Limited has a twelve month low of $173.78 and a twelve month high of $231.37. The stock’s fifty day moving average price is $197.63 and its two-hundred day moving average price is $197.93.
Chubb (NYSE:CB – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.41 by $0.51. The firm had revenue of $10.68 billion for the quarter, compared to analyst estimates of $11.24 billion. Chubb had a net margin of 12.47% and a return on equity of 13.56%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.20 earnings per share. Research analysts forecast that Chubb Limited will post 18.18 earnings per share for the current year.
Chubb declared that its board has initiated a stock repurchase program on Monday, June 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
Chubb Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 15th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, September 14th. Chubb’s payout ratio is 24.71%.
Wall Street Analyst Weigh In
CB has been the subject of several analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $250.00 price target on shares of Chubb in a report on Wednesday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $245.00 price target on shares of Chubb in a report on Tuesday. Morgan Stanley boosted their price target on Chubb from $192.00 to $209.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. BMO Capital Markets boosted their price target on Chubb from $200.00 to $210.00 in a report on Thursday, July 27th. Finally, StockNews.com initiated coverage on Chubb in a report on Thursday, August 17th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $242.79.
Get Our Latest Stock Analysis on Chubb
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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.
Further Reading
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