NewEdge Advisors LLC Boosts Stock Position in Chubb Limited (NYSE:CB)

NewEdge Advisors LLC increased its stake in shares of Chubb Limited (NYSE:CB) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,911 shares of the financial services provider’s stock after buying an additional 7,002 shares during the quarter. NewEdge Advisors LLC’s holdings in Chubb were worth $20,698,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First Financial Bank Trust Division raised its position in shares of Chubb by 3.7% during the 4th quarter. First Financial Bank Trust Division now owns 1,026 shares of the financial services provider’s stock valued at $283,000 after buying an additional 37 shares during the period. Rede Wealth LLC raised its position in Chubb by 2.0% in the fourth quarter. Rede Wealth LLC now owns 1,900 shares of the financial services provider’s stock valued at $525,000 after purchasing an additional 37 shares during the period. Sfmg LLC lifted its stake in shares of Chubb by 2.4% in the 3rd quarter. Sfmg LLC now owns 1,681 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 40 shares during the last quarter. United Asset Strategies Inc. grew its holdings in shares of Chubb by 1.3% during the 4th quarter. United Asset Strategies Inc. now owns 3,079 shares of the financial services provider’s stock worth $851,000 after purchasing an additional 40 shares during the period. Finally, Avitas Wealth Management LLC increased its position in shares of Chubb by 0.5% during the 4th quarter. Avitas Wealth Management LLC now owns 8,761 shares of the financial services provider’s stock worth $2,421,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insiders Place Their Bets

In other Chubb news, EVP Joseph F. Wayland sold 12,231 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the sale, the executive vice president now owns 78,422 shares of the company’s stock, valued at approximately $23,120,374.04. This trade represents a 13.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 25,728 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the completion of the transaction, the chief executive officer now owns 584,395 shares of the company’s stock, valued at approximately $170,321,922.75. The trade was a 4.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,470 shares of company stock valued at $18,562,730 in the last ninety days. Insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of Chubb stock opened at $285.51 on Thursday. The business has a 50-day simple moving average of $283.89 and a 200-day simple moving average of $281.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. Chubb Limited has a one year low of $238.85 and a one year high of $306.91. The company has a market cap of $114.40 billion, a PE ratio of 12.57, a P/E/G ratio of 3.36 and a beta of 0.47.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, topping the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. On average, equities research analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Friday, March 14th. Chubb’s dividend payout ratio is presently 16.02%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Chubb from $271.00 to $268.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. Piper Sandler boosted their target price on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. JMP Securities restated a “market outperform” rating and set a $325.00 price target on shares of Chubb in a research report on Wednesday, January 29th. Finally, Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $307.21.

Chubb 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.