Sandy Cove Advisors LLC Has $494,000 Position in Chubb Limited (NYSE:CB)

Sandy Cove Advisors LLC decreased its stake in Chubb Limited (NYSE:CB) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,907 shares of the financial services provider’s stock after selling 42 shares during the period. Sandy Cove Advisors LLC’s holdings in Chubb were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Chubb during the fourth quarter worth $29,000. ZRC Wealth Management LLC bought a new position in shares of Chubb in the 4th quarter worth about $29,000. EdgeRock Capital LLC acquired a new position in shares of Chubb in the 4th quarter valued at about $35,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Chubb during the 4th quarter valued at about $32,000. Finally, Northwest Financial Advisors acquired a new stake in Chubb during the fourth quarter worth approximately $33,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Performance

Shares of CB traded down $6.95 during trading hours on Friday, hitting $255.08. The company’s stock had a trading volume of 2,794,049 shares, compared to its average volume of 1,375,378. The business has a 50 day simple moving average of $259.30 and a two-hundred day simple moving average of $248.63. Chubb Limited has a 52-week low of $183.71 and a 52-week high of $275.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $103.58 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 6.12 and a beta of 0.66.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the previous year, the firm posted $4.41 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts expect that Chubb Limited will post 21.03 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.43%. This is an increase from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, June 14th. Chubb’s dividend payout ratio is presently 16.16%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CB. StockNews.com cut shares of Chubb from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Bank of America raised Chubb from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $244.00 to $266.00 in a research note on Thursday, May 23rd. HSBC reissued a “hold” rating and issued a $270.00 price objective (down previously from $275.00) on shares of Chubb in a research note on Thursday, April 4th. Evercore ISI upped their target price on Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group boosted their target price on shares of Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $266.70.

Insider Activity

In other Chubb news, EVP Juan Luis Ortega sold 2,400 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $260.98, for a total value of $626,352.00. Following the sale, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $11,648,059.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Juan Luis Ortega sold 2,400 shares of Chubb stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $260.98, for a total transaction of $626,352.00. Following the completion of the sale, the executive vice president now owns 44,632 shares in the company, valued at approximately $11,648,059.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the transaction, the executive vice president now owns 45,853 shares in the company, valued at $12,199,649.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,552 shares of company stock worth $12,149,985. 0.86% of the stock is owned by company insiders.

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.