Chubb Limited (NYSE:CB) Shares Acquired by City Holding Co.

City Holding Co. increased its stake in Chubb Limited (NYSE:CB) by 98.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 196 shares of the financial services provider’s stock after acquiring an additional 97 shares during the quarter. City Holding Co.’s holdings in Chubb were worth $59,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Portside Wealth Group LLC grew its holdings in shares of Chubb by 18.9% in the 1st quarter. Portside Wealth Group LLC now owns 1,146 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 182 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its holdings in shares of Chubb by 17.0% during the first quarter. Moss Adams Wealth Advisors LLC now owns 1,102 shares of the financial services provider’s stock valued at $334,000 after buying an additional 160 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in shares of Chubb by 1.0% during the first quarter. Wesbanco Bank Inc. now owns 18,002 shares of the financial services provider’s stock valued at $5,436,000 after buying an additional 185 shares in the last quarter. Priebe Wealth Holdings LLC purchased a new position in shares of Chubb during the first quarter valued at $274,000. Finally, GoodHaven Capital Management LLC grew its holdings in shares of Chubb by 23.2% during the first quarter. GoodHaven Capital Management LLC now owns 42,955 shares of the financial services provider’s stock valued at $12,972,000 after buying an additional 8,090 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 85,083 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the completion of the sale, the chief operating officer now owns 237,728 shares of the company’s stock, valued at $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO George F. Ohsiek sold 763 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.41, for a total value of $221,582.83. Following the completion of the sale, the chief accounting officer now directly owns 20,044 shares of the company’s stock, valued at $5,820,978.04. This represents a 3.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,825 shares of company stock valued at $32,889,194 over the last quarter. Insiders own 0.77% of the company’s stock.

Chubb Stock Performance

Shares of NYSE CB opened at $289.83 on Tuesday. The business’s 50-day moving average price is $287.40 and its two-hundred day moving average price is $281.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The company has a market capitalization of $116.14 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 3.36 and a beta of 0.54.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb declared that its board has authorized a stock repurchase program on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Chubb Increases Dividend

The business also recently declared 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 dividend yield of 1.34%. This is a boost 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 brokerages have recently weighed in on CB. Wells Fargo & Company lifted their price target on Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Raymond James reiterated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Jefferies Financial Group lifted their price target on Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a report on Friday, April 11th. Keefe, Bruyette & Woods lowered their price target on Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Finally, UBS Group lifted their price target on Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $307.53.

About Chubb

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.