Park Avenue Securities LLC Increases Stock Position in Chubb Limited (NYSE:CB)

Park Avenue Securities LLC raised its position in shares of Chubb Limited (NYSE:CB) by 14.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,905 shares of the financial services provider’s stock after buying an additional 3,061 shares during the period. Park Avenue Securities LLC’s holdings in Chubb were worth $7,219,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Peoples Bank KS purchased a new stake in Chubb during the 1st quarter valued at $25,000. Sierra Ocean LLC purchased a new stake in Chubb during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. bought a new position in Chubb in the 4th quarter worth $29,000. Strategic Financial Concepts LLC bought a new position in Chubb in the 4th quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in Chubb by 254.3% in 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 in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

CB opened at $293.95 on Monday. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a market cap of $117.79 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 3.36 and a beta of 0.54. The company’s 50 day moving average is $287.64 and its 200 day moving average is $281.68. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. On average, equities research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Chubb Increases Dividend

The firm 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 $0.97 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.32%. Chubb’s dividend payout ratio (DPR) is presently 18.67%.

Insider Buying and Selling

In other Chubb news, EVP Timothy Alan Boroughs sold 14,748 shares of Chubb stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the transaction, the executive vice president now owns 29,194 shares of the company’s stock, valued at $8,644,927.28. The trade was a 33.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 12,231 shares of Chubb 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 transaction, the executive vice president now directly owns 78,422 shares in the company, valued at $23,120,374.04. This represents a 13.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,553 shares of company stock valued at $40,387,620. 0.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CB shares. UBS Group upped their price objective on shares of Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Deutsche Bank Aktiengesellschaft lowered shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 price objective for the company. in a report on Tuesday, May 20th. HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. upped their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Finally, Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $307.53.

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.