BerganKDV Wealth Management LLC Grows Stock Holdings in Chubb Limited (NYSE:CB)

BerganKDV Wealth Management LLC increased its stake in shares of Chubb Limited (NYSE:CBGet Rating) by 5.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,467 shares of the financial services provider’s stock after buying an additional 1,410 shares during the period. BerganKDV Wealth Management LLC’s holdings in Chubb were worth $6,089,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its holdings in shares of Chubb by 3.6% in the fourth quarter. First Horizon Advisors Inc. now owns 1,446 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 50 shares in the last quarter. Prestige Wealth Management Group LLC raised its position in shares of Chubb by 4.0% in the first quarter. Prestige Wealth Management Group LLC now owns 1,298 shares of the financial services provider’s stock valued at $277,000 after buying an additional 50 shares during the last quarter. Williams Jones Wealth Management LLC. raised its position in shares of Chubb by 2.7% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,996 shares of the financial services provider’s stock valued at $386,000 after buying an additional 53 shares during the last quarter. Private Trust Co. NA increased its position in Chubb by 1.1% during the first quarter. Private Trust Co. NA now owns 5,048 shares of the financial services provider’s stock worth $1,080,000 after purchasing an additional 55 shares during the last quarter. Finally, Rosenberg Matthew Hamilton increased its position in Chubb by 49.1% during the first quarter. Rosenberg Matthew Hamilton now owns 167 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 88.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Chubb from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Jefferies Financial Group decreased their price objective on shares of Chubb from $247.00 to $244.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. Citigroup initiated coverage on shares of Chubb in a research note on Monday, May 23rd. They set a “neutral” rating and a $209.00 price objective for the company. Barclays decreased their price objective on shares of Chubb from $250.00 to $249.00 and set an “overweight” rating for the company in a research note on Friday, May 20th. Finally, Morgan Stanley decreased their price objective on shares of Chubb from $224.00 to $216.00 and set an “equal weight” rating for the company in a research note on Monday, May 23rd. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.85.

Chubb Stock Up 0.1 %

Shares of CB stock traded up $0.23 on Friday, hitting $185.32. The stock had a trading volume of 1,282,618 shares, compared to its average volume of 1,977,182. The firm has a market capitalization of $77.40 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.18 and a beta of 0.68. The stock’s 50 day moving average is $193.82 and its 200-day moving average is $202.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.31 and a current ratio of 0.36. Chubb Limited has a 52-week low of $171.96 and a 52-week high of $218.99.

Chubb (NYSE:CBGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $4.20 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.57. Chubb had a net margin of 17.36% and a return on equity of 10.97%. During the same quarter in the prior year, the business posted $3.62 EPS. As a group, research analysts expect that Chubb Limited will post 15.64 earnings per share for the current year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Friday, June 17th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.79%. This is a boost from Chubb’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, June 16th. Chubb’s dividend payout ratio is 20.02%.

Chubb declared that its board has approved a stock buyback plan on Thursday, May 19th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 12,004 shares of the stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $205.41, for a total transaction of $2,465,741.64. Following the sale, the insider now directly owns 151,093 shares of the company’s stock, valued at $31,036,013.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John J. Lupica sold 12,004 shares of the stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $205.41, for a total value of $2,465,741.64. Following the sale, the insider now owns 151,093 shares of the company’s stock, valued at approximately $31,036,013.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO John W. Keogh sold 64,565 shares of the stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $208.39, for a total transaction of $13,454,700.35. Following the completion of the sale, the chief operating officer now directly owns 230,236 shares in the company, valued at approximately $47,978,880.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,891 shares of company stock valued at $26,199,246. Company insiders own 0.39% of the company’s stock.

Chubb Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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