KB Financial Partners LLC Makes New Investment in Chubb Limited (NYSE:CB)

KB Financial Partners LLC acquired a new stake in Chubb Limited (NYSE:CB) in the first quarter, according to its most recent filing with the SEC. The fund acquired 2,873 shares of the financial services provider’s stock, valued at approximately $558,000.

Several other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in Chubb by 17.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,821,856 shares of the financial services provider’s stock valued at $5,596,629,000 after buying an additional 4,210,564 shares during the period. FMR LLC lifted its position in Chubb by 21.8% during the first quarter. FMR LLC now owns 14,107,981 shares of the financial services provider’s stock valued at $2,739,488,000 after purchasing an additional 2,528,499 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of Chubb by 102,751.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,289,814 shares of the financial services provider’s stock worth $1,828,733,000 after buying an additional 8,281,754 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Chubb by 0.8% in the 1st quarter. Geode Capital Management LLC now owns 7,833,334 shares of the financial services provider’s stock worth $1,517,747,000 after buying an additional 60,630 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Chubb by 1.1% during the 4th quarter. Wells Fargo & Company MN now owns 5,786,479 shares of the financial services provider’s stock valued at $1,276,497,000 after buying an additional 65,270 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the topic of a number of research reports. Barclays raised their price objective on Chubb from $260.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. StockNews.com initiated coverage on shares of Chubb in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $245.00 price target on shares of Chubb in a research report on Tuesday, August 29th. Piper Sandler lowered their target price on Chubb from $248.00 to $237.00 in a research note on Thursday, July 6th. Finally, Morgan Stanley raised their price target on Chubb from $192.00 to $209.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. 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. According to data from MarketBeat.com, Chubb currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.79.

Insiders Place Their Bets

In other news, insider John J. Lupica sold 8,398 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $211.74, for a total value of $1,778,192.52. Following the sale, the insider now directly owns 154,049 shares of the company’s stock, valued at approximately $32,618,335.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO John W. Keogh sold 10,000 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $201.01, for a total transaction of $2,010,100.00. Following the sale, the chief operating officer now directly owns 265,184 shares of the company’s stock, valued at approximately $53,304,635.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John J. Lupica sold 8,398 shares of Chubb stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $211.74, for a total transaction of $1,778,192.52. Following the completion of the transaction, the insider now directly owns 154,049 shares of the company’s stock, valued at $32,618,335.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,534 shares of company stock worth $4,645,275. 0.37% of the stock is owned by corporate insiders.

Chubb Trading Up 0.9 %

NYSE:CB opened at $208.28 on Wednesday. The company has a 50-day moving average price of $199.77 and a 200-day moving average price of $197.34. The stock has a market cap of $85.55 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.12 and a beta of 0.65. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.26. Chubb Limited has a 12 month low of $173.78 and a 12 month high of $231.37.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share for the quarter, beating the consensus estimate of $4.41 by $0.51. Chubb had a return on equity of 13.56% and a net margin of 12.47%. The business had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $11.24 billion. During the same period in the previous year, the firm posted $4.20 EPS. The business’s revenue was up 9.8% on a year-over-year basis. Equities analysts predict that Chubb Limited will post 18.18 EPS for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be paid a $0.86 dividend. The ex-dividend date is Thursday, September 14th. This represents a $3.44 annualized dividend and a yield of 1.65%. Chubb’s payout ratio is 24.71%.

Chubb declared that its Board of Directors has authorized a share repurchase program on Monday, June 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Chubb 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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.