Vident Advisory LLC Has $8.21 Million Stake in Chubb Limited (NYSE:CB)

Vident Advisory LLC boosted its holdings in Chubb Limited (NYSE:CB) by 104.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,696 shares of the financial services provider’s stock after purchasing an additional 15,153 shares during the quarter. Vident Advisory LLC’s holdings in Chubb were worth $8,206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rede Wealth LLC raised its position in shares of Chubb by 2.0% in the 4th quarter. Rede Wealth LLC now owns 1,900 shares of the financial services provider’s stock valued at $525,000 after buying an additional 37 shares in the last quarter. United Asset Strategies Inc. raised its position in shares of Chubb by 1.3% in the 4th quarter. United Asset Strategies Inc. now owns 3,079 shares of the financial services provider’s stock valued at $851,000 after buying an additional 40 shares in the last quarter. Avitas Wealth Management LLC raised its position in shares of Chubb by 0.5% in the 4th quarter. Avitas Wealth Management LLC now owns 8,761 shares of the financial services provider’s stock valued at $2,421,000 after buying an additional 40 shares in the last quarter. Tandem Wealth Advisors LLC raised its position in shares of Chubb by 3.0% in the 4th quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider’s stock valued at $382,000 after buying an additional 40 shares in the last quarter. Finally, Unison Advisors LLC raised its position in shares of Chubb by 0.3% in the 4th quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider’s stock valued at $3,742,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CB. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 target price on shares of Chubb in a research report on Thursday, January 30th. HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a research report on Wednesday, March 5th. Morgan Stanley upped their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday. Piper Sandler upped their price objective on shares of Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 1st. Finally, Jefferies Financial Group upped their price objective on shares of Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $307.86.

Insider Activity

In other news, CEO Evan G. Greenberg sold 25,728 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the sale, the chief executive officer now directly owns 584,395 shares of the company’s stock, valued at approximately $170,321,922.75. This represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 12,231 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the transaction, the executive vice president now directly owns 78,422 shares in the company, valued at approximately $23,120,374.04. This represents a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,470 shares of company stock valued at $18,562,730. 0.77% of the stock is currently owned by insiders.

Chubb Trading Down 0.0%

CB opened at $294.29 on Tuesday. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week 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 firm has a market capitalization of $117.93 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 3.36 and a beta of 0.57. The company’s 50 day moving average price is $288.63 and its two-hundred day moving average price is $280.78.

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

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a $0.97 dividend. This is a positive change from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, June 13th. Chubb’s dividend payout ratio is currently 17.52%.

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

Chubb 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.