Alpine Bank Wealth Management Makes New Investment in Chubb Limited (NYSE:CB)

Alpine Bank Wealth Management purchased a new stake in Chubb Limited (NYSE:CB) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 304 shares of the financial services provider’s stock, valued at approximately $92,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Peoples Bank KS acquired a new stake in Chubb in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Chubb in the 1st quarter valued at approximately $25,000. Crowley Wealth Management Inc. acquired a new stake in shares of Chubb in the 4th quarter valued at $29,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Chubb by 254.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Finally, Cherry Tree Wealth Management LLC grew its stake in shares of Chubb by 56.6% during the first quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the transaction, the chief operating officer now owns 247,538 shares in the company, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.77% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Jefferies Financial Group increased their target price on shares of Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research report on Friday, April 11th. Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. Raymond James Financial reiterated a “strong-buy” rating on shares of Chubb in a research report on Thursday, April 24th. Wells Fargo & Company raised their price objective on shares of Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Finally, HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price for the company in a report on Wednesday, March 5th. Two equities research 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. Based on data from MarketBeat.com, Chubb presently has a consensus rating of “Moderate Buy” and an average price target of $307.53.

Chubb Stock Performance

NYSE:CB opened at $282.76 on Thursday. The firm’s fifty day simple moving average is $287.87 and its 200-day simple moving average is $281.61. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a market cap of $113.31 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 3.19 and a beta of 0.54. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91.

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

Chubb announced that its board has approved a share repurchase program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a dividend of $0.97 per share. The ex-dividend date is Friday, June 13th. This is a boost from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.37%. Chubb’s payout ratio is currently 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.