Fi3 FINANCIAL ADVISORS LLC Purchases New Shares in Chubb Limited (NYSE:CB)

by · The Markets Daily

Fi3 FINANCIAL ADVISORS LLC purchased a new stake in shares of Chubb Limited (NYSE:CB – Free Report) during the first quarter, HoldingsChannel reports. The fund purchased 793 shares of the financial services provider’s stock, valued at approximately $240,000.

Several other hedge funds have also recently made changes to their positions in CB. Demars Financial Group LLC raised its holdings in Chubb by 26,761.4% during the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider’s stock valued at $1,481,094,000 after buying an additional 5,340,499 shares during the period. GAMMA Investing LLC raised its stake in shares of Chubb by 36,831.3% in the first quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider’s stock valued at $629,357,000 after acquiring an additional 2,078,390 shares during the period. Royal Bank of Canada raised its stake in shares of Chubb by 46.7% in the fourth quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider’s stock valued at $1,217,392,000 after acquiring an additional 1,403,545 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in shares of Chubb in the fourth quarter valued at $336,972,000. Finally, SG Americas Securities LLC raised its stake in shares of Chubb by 1,243.9% in the first quarter. SG Americas Securities LLC now owns 680,456 shares of the financial services provider’s stock valued at $205,491,000 after acquiring an additional 629,822 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chubb

In other Chubb news, Director Michael Corbat acquired 425 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares in the company, valued at $661,010. This represents a 20.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the transaction, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,390 shares of company stock valued at $29,163,135 over the last ninety days. 0.86% of the stock is owned by company insiders.

Chubb Stock Performance

Shares of Chubb stock opened at $267.73 on Wednesday. The firm has a market cap of $106.74 billion, a P/E ratio of 11.81, a P/E/G ratio of 3.03 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 0.18. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The stock’s fifty day moving average price is $281.42 and its 200-day moving average price is $282.40.

Chubb (NYSE:CB – Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $5.38 EPS. On average, equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb declared that its board has initiated a stock repurchase plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes 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 board of directors believes its shares are undervalued.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, June 13th. This is a positive change from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb’s dividend payout ratio is 17.12%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Evercore ISI set a $312.00 price objective on shares of Chubb in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their price target on Chubb from $314.00 to $324.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Barclays downgraded Chubb from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. UBS Group reduced their price target on Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. increased their target price on Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $301.50.

Check Out Our Latest Stock Report on CB

Chubb Profile

(Free Report)

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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