Advisory Services Network LLC Decreases Stock Position in Chubb Limited (NYSE:CB)

Advisory Services Network LLC cut its stake in shares of Chubb Limited (NYSE:CB) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,646 shares of the financial services provider’s stock after selling 72 shares during the period. Advisory Services Network LLC’s holdings in Chubb were worth $6,248,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Americana Partners LLC purchased a new stake in Chubb during the 3rd quarter valued at $292,000. Lazard Asset Management LLC increased its stake in shares of Chubb by 978.1% in the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock worth $113,781,000 after purchasing an additional 495,860 shares in the last quarter. Alphinity Investment Management Pty Ltd increased its stake in shares of Chubb by 155.8% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock worth $120,235,000 after purchasing an additional 324,019 shares in the last quarter. ING Groep NV increased its stake in shares of Chubb by 175,378.1% in the 4th quarter. ING Groep NV now owns 112,306 shares of the financial services provider’s stock worth $25,381,000 after purchasing an additional 112,242 shares in the last quarter. Finally, Graypoint LLC increased its stake in shares of Chubb by 1,275.7% in the 4th quarter. Graypoint LLC now owns 31,599 shares of the financial services provider’s stock worth $7,141,000 after purchasing an additional 29,302 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of NYSE CB traded up $1.68 during mid-day trading on Friday, hitting $264.76. 862,636 shares of the company’s stock traded hands, compared to its average volume of 1,701,991. The company’s 50-day moving average is $253.77 and its two-hundred day moving average is $241.57. 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 capitalization of $107.51 billion, a P/E ratio of 11.75, a PEG ratio of 9.33 and a beta of 0.63. Chubb Limited has a 1 year low of $183.71 and a 1 year high of $275.41.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, topping 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 company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same period in the prior year, the company posted $4.41 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts anticipate that Chubb Limited will post 21.21 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.37%. Chubb’s dividend payout ratio (DPR) is 15.27%.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 34,707 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the transaction, the chief operating officer now directly owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Michael G. Atieh sold 716 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $269.70, for a total transaction of $193,105.20. Following the transaction, the director now directly owns 39,295 shares in the company, valued at $10,597,861.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO John W. Keogh sold 34,707 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the transaction, the chief operating officer now owns 284,136 shares in the company, valued at $71,596,589.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,815 shares of company stock valued at $37,349,247. 0.86% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CB has been the subject of several analyst reports. Raymond James upped their price objective on Chubb from $270.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 1st. Bank of America upgraded Chubb from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $244.00 to $266.00 in a research note on Thursday. Keefe, Bruyette & Woods reduced their price objective on Chubb from $297.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday, May 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $280.00 target price on shares of Chubb in a report on Monday, April 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $282.00 target price on shares of Chubb in a report on Monday, April 1st. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $266.70.

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.