984 Shares in Chubb Limited (NYSE:CB) Purchased by Dover Advisors LLC

Dover Advisors LLC acquired a new position in Chubb Limited (NYSE:CB) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 984 shares of the financial services provider’s stock, valued at approximately $298,000.

Several other large investors also recently bought and sold shares of CB. Brighton Jones LLC increased its holdings in Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after buying an additional 221 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in Chubb in the 4th quarter worth about $205,000. Strategic Financial Concepts LLC bought a new stake in Chubb in the 4th quarter worth about $30,000. Allspring Global Investments Holdings LLC increased its holdings in Chubb by 137.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 82,758 shares of the financial services provider’s stock worth $22,579,000 after buying an additional 47,954 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Chubb by 2.9% in the 4th quarter. Van ECK Associates Corp now owns 13,391 shares of the financial services provider’s stock worth $3,700,000 after buying an additional 381 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CB. Deutsche Bank Aktiengesellschaft downgraded Chubb from a “buy” rating to a “hold” rating and set a $303.00 price target for the company. in a research note on Tuesday, May 20th. Raymond James restated a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Piper Sandler boosted their price target on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Finally, HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target for the company in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $307.53.

Chubb Stock Down 0.9%

NYSE CB opened at $286.59 on Friday. The stock’s 50 day moving average is $287.72 and its 200 day moving average is $281.78. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The stock has a market cap of $114.84 billion, a PE ratio of 12.61, a P/E/G ratio of 3.36 and a beta of 0.54.

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

Chubb Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.35%. Chubb’s payout ratio is currently 18.67%.

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

Insider Buying and Selling

In other news, EVP Timothy Alan Boroughs sold 14,748 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the sale, the executive vice president now directly owns 29,194 shares of the company’s stock, valued at $8,644,927.28. This represents a 33.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John W. Keogh acquired 9,810 shares of the firm’s stock in a transaction dated Friday, June 6th. The shares were purchased at an average cost of $292.99 per share, for a total transaction of $2,874,231.90. Following the completion of the acquisition, the chief operating officer now directly owns 247,538 shares in the company, valued at approximately $72,526,158.62. This represents a 4.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 121,856 shares of company stock valued at $35,537,155. Corporate insiders own 0.77% of the company’s stock.

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.