Woodstock Corp increased its stake in Chubb Limited (NYSE:CB – Free Report) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,825 shares of the financial services provider’s stock after purchasing an additional 398 shares during the period. Woodstock Corp’s holdings in Chubb were worth $5,358,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of CB. Guardian Wealth Advisors LLC acquired a new stake in Chubb during the 1st quarter worth about $25,000. ICA Group Wealth Management LLC acquired a new stake in Chubb during the 4th quarter worth about $25,000. Grey Fox Wealth Advisors LLC acquired a new stake in Chubb during the 4th quarter valued at approximately $27,000. Altshuler Shaham Ltd acquired a new stake in Chubb during the 4th quarter valued at approximately $47,000. Finally, Almanack Investment Partners LLC. acquired a new stake in Chubb during the 3rd quarter valued at approximately $52,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.
Chubb Trading Down 0.3 %
Chubb stock traded down $0.67 during trading on Friday, reaching $211.31. 425,501 shares of the company were exchanged, compared to its average volume of 1,777,695. Chubb Limited has a 52-week low of $173.78 and a 52-week high of $231.37. The company has a market capitalization of $86.79 billion, a P/E ratio of 15.23, a PEG ratio of 1.15 and a beta of 0.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.34 and a quick ratio of 0.34. The stock’s 50 day simple moving average is $200.15 and its two-hundred day simple moving average is $197.43.
Chubb Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, September 14th. Chubb’s payout ratio is 24.71%.
Chubb declared that its Board of Directors has approved a share repurchase program on Monday, June 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Wall Street Analysts Forecast Growth
CB has been the subject of several analyst reports. JMP Securities reissued a “market outperform” rating and issued a $250.00 price objective on shares of Chubb in a report on Wednesday, July 26th. Morgan Stanley boosted their price objective on Chubb from $192.00 to $209.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. BMO Capital Markets boosted their target price on shares of Chubb from $200.00 to $210.00 in a research note on Thursday, July 27th. Piper Sandler decreased their target price on shares of Chubb from $248.00 to $237.00 in a research note on Thursday, July 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Chubb from $241.00 to $250.00 in a research note on Thursday, July 6th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $242.79.
Insider Buying and Selling
In related news, Director Theodore Shasta sold 699 shares of Chubb stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $201.94, for a total value of $141,156.06. Following the completion of the sale, the director now owns 14,511 shares in the company, valued at approximately $2,930,351.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chubb news, EVP Timothy Alan Boroughs sold 1,500 shares of Chubb stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $205.41, for a total value of $308,115.00. Following the completion of the transaction, the executive vice president now directly owns 2,335 shares of the company’s stock, valued at approximately $479,632.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Theodore Shasta sold 699 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $201.94, for a total transaction of $141,156.06. Following the completion of the transaction, the director now owns 14,511 shares of the company’s stock, valued at approximately $2,930,351.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,534 shares of company stock valued at $4,645,275. 0.37% of the stock is currently owned by insiders.
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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.
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