LMG Wealth Partners LLC Boosts Stock Holdings in Chubb Limited (NYSE:CB)

by · The Cerbat Gem

LMG Wealth Partners LLC boosted its position in Chubb Limited (NYSE:CB – Free Report) by 14.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,858 shares of the financial services provider’s stock after purchasing an additional 1,701 shares during the period. LMG Wealth Partners LLC’s holdings in Chubb were worth $4,185,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Chubb by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider’s stock worth $10,072,097,000 after acquiring an additional 271,648 shares in the last quarter. FMR LLC lifted its position in shares of Chubb by 0.6% during the fourth quarter. FMR LLC now owns 15,668,377 shares of the financial services provider’s stock worth $4,329,173,000 after acquiring an additional 91,892 shares in the last quarter. Capital World Investors lifted its position in shares of Chubb by 1.9% during the fourth quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider’s stock worth $3,172,194,000 after acquiring an additional 212,889 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Chubb by 1.5% during the fourth quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider’s stock worth $2,457,402,000 after acquiring an additional 131,075 shares in the last quarter. Finally, Demars Financial Group LLC lifted its position in shares of Chubb by 16.4% during the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock worth $1,884,004,000 after acquiring an additional 878,177 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Down 1.6%

Shares of NYSE:CB opened at $275.63 on Wednesday. The stock’s 50-day moving average price is $287.00 and its 200-day moving average price is $282.25. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The stock has a market capitalization of $110.45 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 3.12 and a beta of 0.53. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB – Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. On average, equities analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb announced that its Board of Directors has approved a stock buyback program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, June 13th. This is a boost from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a dividend yield of 1.41%. Chubb’s dividend payout ratio (DPR) is presently 18.67%.

Insider Activity

In related news, insider John J. Lupica sold 5,513 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares of the company’s stock, valued at $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John W. Keogh sold 9,794 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the sale, the chief operating officer owned 247,538 shares of the company’s stock, valued at $72,526,158.62. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,390 shares of company stock worth $29,163,135 over the last three months. 0.86% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CB shares. JPMorgan Chase & Co. upped their price target on shares of Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Barclays cut shares of Chubb from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Jefferies Financial Group upped their price target on shares of Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a report on Friday, April 11th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 price target on the stock. in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $307.13.

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Chubb Profile

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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.

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