Chubb Limited (NYSE:CB) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its holdings in Chubb Limited (NYSE:CB) by 9.4% during the 1st quarter, Holdings Channel reports. The firm owned 3,541 shares of the financial services provider’s stock after buying an additional 305 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Chubb were worth $1,069,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Peoples Bank KS acquired a new stake in Chubb in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Chubb in the first quarter worth approximately $25,000. Crowley Wealth Management Inc. acquired a new stake in shares of Chubb in the fourth quarter worth approximately $29,000. Strategic Financial Concepts LLC acquired a new stake in shares of Chubb in the fourth quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chubb

In other Chubb news, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction on Friday, June 6th. The stock was sold at an average price of $292.99, for a total value of $2,869,544.06. Following the sale, the chief operating officer now owns 247,538 shares in the company, valued at $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.77% of the company’s stock.

Chubb Stock Performance

Shares of Chubb stock opened at $282.01 on Friday. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The company has a market cap of $113.01 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 3.14 and a beta of 0.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The business’s 50 day moving average price is $287.88 and its 200 day moving average price is $281.60.

Chubb (NYSE:CB) last announced its quarterly earnings data 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 12.37% and a net margin of 15.05%. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. On average, research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb announced that its board has approved a share buyback plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be given a $0.97 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.38%. This is an increase from Chubb’s previous quarterly dividend of $0.91. Chubb’s payout ratio is currently 18.67%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CB shares. Piper Sandler lifted their price target on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Wells Fargo & Company lifted their price target on Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Jefferies Financial Group lifted their price target on Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted their price target on Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $307.53.

Chubb Company 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.