D.A. Davidson & CO. Has $74.17 Million Position in Chubb Limited (NYSE:CB)

D.A. Davidson & CO. raised its holdings in shares of Chubb Limited (NYSE:CB) by 2.2% in the 1st quarter, HoldingsChannel reports. The firm owned 245,612 shares of the financial services provider’s stock after buying an additional 5,344 shares during the period. D.A. Davidson & CO.’s holdings in Chubb were worth $74,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Demars Financial Group LLC boosted its holdings in shares of Chubb by 26,761.4% during the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider’s stock worth $1,481,094,000 after acquiring an additional 5,340,499 shares during the period. Norges Bank bought a new position in shares of Chubb during the fourth quarter worth approximately $1,169,720,000. Raymond James Financial Inc. acquired a new stake in Chubb during the 4th quarter worth approximately $1,158,897,000. GAMMA Investing LLC boosted its stake in Chubb by 36,831.3% in the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider’s stock valued at $629,357,000 after purchasing an additional 2,078,390 shares during the period. Finally, Royal Bank of Canada boosted its stake in Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider’s stock valued at $1,217,392,000 after purchasing an additional 1,403,545 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Buying and Selling

In other news, COO John W. Keogh sold 85,083 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the sale, the chief operating officer directly owned 237,728 shares in the company, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.77% of the company’s stock.

Chubb Stock Performance

Shares of NYSE:CB opened at $279.82 on Thursday. Chubb Limited has a 1 year low of $251.42 and a 1 year high of $306.91. The stock has a market capitalization of $112.13 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 3.22 and a beta of 0.53. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The company’s 50 day simple moving average is $287.90 and its 200 day simple moving average is $281.94.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a return on equity of 12.37% and a net margin of 15.05%. The company 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 EPS for the current fiscal year.

Chubb announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from Chubb’s previous quarterly dividend of $0.91. Chubb’s payout ratio is currently 18.67%.

Analyst Ratings Changes

CB has been the topic of several recent research reports. Morgan Stanley increased their price objective on Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Piper Sandler raised their price target 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. Keefe, Bruyette & Woods dropped their price objective on shares of Chubb from $316.00 to $314.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $307.53.

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 risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.