Phillips Wealth Planners LLC Has $482,000 Position in Chubb Limited (NYSE:CB)

Phillips Wealth Planners LLC raised its holdings in Chubb Limited (NYSE:CB) by 18.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,702 shares of the financial services provider’s stock after buying an additional 262 shares during the period. Phillips Wealth Planners LLC’s holdings in Chubb were worth $482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Perigon Wealth Management LLC increased its stake in Chubb by 4.6% in the 1st quarter. Perigon Wealth Management LLC now owns 8,424 shares of the financial services provider’s stock valued at $2,544,000 after buying an additional 370 shares during the last quarter. Omnia Family Wealth LLC increased its stake in Chubb by 13.7% in the 1st quarter. Omnia Family Wealth LLC now owns 788 shares of the financial services provider’s stock valued at $239,000 after buying an additional 95 shares during the last quarter. Alpine Bank Wealth Management acquired a new stake in Chubb in the 1st quarter valued at $92,000. HBK Sorce Advisory LLC increased its stake in Chubb by 12.5% in the 1st quarter. HBK Sorce Advisory LLC now owns 1,494 shares of the financial services provider’s stock valued at $451,000 after buying an additional 166 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its stake in Chubb by 183.5% in the 1st quarter. Golden State Wealth Management LLC now owns 1,426 shares of the financial services provider’s stock valued at $431,000 after buying an additional 923 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Down 1.4%

Shares of CB opened at $282.76 on Thursday. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91. The firm has a market cap of $113.31 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 3.19 and a beta of 0.54. The firm’s 50-day simple moving average is $287.87 and its 200 day simple moving average is $281.61. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating 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 business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. On average, analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a $0.97 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.37%. This is a positive change from Chubb’s previous quarterly dividend of $0.91. Chubb’s dividend payout ratio is 18.67%.

Chubb announced that its board has initiated a share buyback plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have issued reports on CB. Wells Fargo & Company lifted their price target on shares of Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective on the stock in a research note on Wednesday, March 5th. UBS Group boosted their price objective on shares of Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Raymond James Financial restated a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Finally, Morgan Stanley boosted their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Chubb currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.53.

Insider Buying and Selling at Chubb

In other Chubb news, COO John W. Keogh sold 85,083 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 237,728 shares of the company’s stock, valued at $68,998,174.72. The trade was a 26.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.77% of the company’s stock.

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.