NewEdge Wealth LLC Grows Stock Position in Chubb Limited (NYSE:CB)

NewEdge Wealth LLC increased its position in shares of Chubb Limited (NYSE:CB) by 15.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,167 shares of the financial services provider’s stock after purchasing an additional 959 shares during the quarter. NewEdge Wealth LLC’s holdings in Chubb were worth $1,620,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Americana Partners LLC purchased a new stake in shares of Chubb during the 3rd quarter valued at approximately $292,000. Lazard Asset Management LLC raised its position in Chubb by 978.1% in the third quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock valued at $113,781,000 after purchasing an additional 495,860 shares during the period. Alphinity Investment Management Pty Ltd raised its position in Chubb by 155.8% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock valued at $120,235,000 after purchasing an additional 324,019 shares during the period. BKM Wealth Management LLC purchased a new stake in Chubb in the fourth quarter valued at approximately $1,403,000. Finally, Royal Bank of Canada raised its position in Chubb by 14.1% in the third quarter. Royal Bank of Canada now owns 1,550,856 shares of the financial services provider’s stock valued at $322,857,000 after purchasing an additional 191,317 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of NYSE:CB opened at $245.81 on Monday. The company has a 50-day simple moving average of $252.64 and a 200-day simple moving average of $233.25. Chubb Limited has a one year low of $183.71 and a one year high of $260.58. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $99.80 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.16 and a beta of 0.62.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $8.30 EPS for the quarter, beating analysts’ consensus estimates of $5.07 by $3.23. Chubb had a net margin of 18.11% and a return on equity of 16.45%. The business had revenue of $13.38 billion during the quarter, compared to analysts’ expectations of $12.88 billion. On average, analysts predict that Chubb Limited will post 21.15 EPS for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.86 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.40%. Chubb’s payout ratio is 15.76%.

Insider Activity

In other news, CAO Annmarie T. Hagan sold 7,180 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.04, for a total value of $1,759,387.20. Following the completion of the sale, the chief accounting officer now directly owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chubb news, EVP Timothy Alan Boroughs sold 14,303 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $258.78, for a total transaction of $3,701,330.34. Following the transaction, the executive vice president now directly owns 35,662 shares in the company, valued at $9,228,612.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Annmarie T. Hagan sold 7,180 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the transaction, the chief accounting officer now owns 6,105 shares in the company, valued at $1,495,969.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,043 shares of company stock valued at $29,766,694. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

CB has been the topic of a number of research analyst reports. HSBC reissued a “hold” rating and issued a $270.00 target price (down previously from $275.00) on shares of Chubb in a research report on Thursday, April 4th. TD Cowen initiated coverage on Chubb in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $254.00 target price on the stock. Roth Mkm boosted their target price on Chubb from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. JMP Securities boosted their price target on shares of Chubb from $250.00 to $280.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 31st. Finally, Citigroup restated a “neutral” rating and issued a $275.00 price target (up previously from $238.00) on shares of Chubb in a research note on Thursday, March 14th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Chubb has an average rating of “Moderate Buy” and a consensus price target of $264.58.

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