Chubb Limited (NYSE:CB) Stake Lessened by Goldstein Advisors LLC

Goldstein Advisors LLC cut its stake in Chubb Limited (NYSE:CB) by 4.4% in the 1st quarter, HoldingsChannel reports. The fund owned 2,369 shares of the financial services provider’s stock after selling 108 shares during the period. Goldstein Advisors LLC’s holdings in Chubb were worth $715,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CB. Brighton Jones LLC boosted its holdings in shares of Chubb by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after acquiring an additional 221 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Chubb in the fourth quarter valued at approximately $205,000. Bank Pictet & Cie Europe AG bought a new position in shares of Chubb in the fourth quarter valued at approximately $1,320,000. IFP Advisors Inc boosted its holdings in shares of Chubb by 106.6% in the fourth quarter. IFP Advisors Inc now owns 3,808 shares of the financial services provider’s stock valued at $1,052,000 after acquiring an additional 1,965 shares in the last quarter. Finally, Delta Financial Advisors LLC boosted its holdings in shares of Chubb by 7.0% in the fourth quarter. Delta Financial Advisors LLC now owns 7,883 shares of the financial services provider’s stock valued at $2,178,000 after acquiring an additional 513 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO John W. Keogh purchased 9,810 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was bought at an average cost of $292.99 per share, with a total value of $2,874,231.90. Following the purchase, the chief operating officer now directly owns 247,538 shares of the company’s stock, valued at approximately $72,526,158.62. This trade represents a 4.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Chubb from $316.00 to $314.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Barclays reduced their target price on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Raymond James Financial restated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Morgan Stanley raised their target price on shares of Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Finally, UBS Group raised their target price on shares of Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.53.

Chubb Trading Down 1.4%

Shares of NYSE CB opened at $282.76 on Thursday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The business has a 50-day moving average price of $287.87 and a two-hundred day moving average price of $281.61. The firm has a market capitalization of $113.31 billion, a PE ratio of 13.61, a PEG ratio of 3.19 and a beta of 0.54.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping the consensus estimate of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The business had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $11.22 billion. As a group, analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb announced that its Board of Directors has approved a stock buyback plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is 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 dividend of $0.97 per share. The ex-dividend date is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change from Chubb’s previous quarterly dividend of $0.91. Chubb’s dividend payout ratio (DPR) is 18.67%.

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.