180 Wealth Advisors LLC Takes $513,000 Position in Chubb Ltd (CB)
180 Wealth Advisors LLC bought a new position in Chubb Ltd (NYSE:CB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,513 shares of the financial services provider’s stock, valued at approximately $513,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new stake in shares of Chubb in the 4th quarter worth approximately $103,000. Welch Group LLC bought a new stake in shares of Chubb in the 4th quarter worth approximately $110,000. Horan Capital Advisors LLC. bought a new stake in shares of Chubb in the 3rd quarter worth approximately $133,000. Covenant Multifamily Offices LLC bought a new stake in shares of Chubb in the 4th quarter worth approximately $135,000. Finally, Zions Bancorporation lifted its holdings in shares of Chubb by 716.3% in the 3rd quarter. Zions Bancorporation now owns 1,151 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 1,010 shares during the last quarter. Institutional investors own 86.10% of the company’s stock.
In other news, CEO Evan G. Greenberg sold 95,761 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $145.56, for a total value of $13,938,971.16. Following the sale, the chief executive officer now owns 1,367,229 shares of the company’s stock, valued at approximately $199,013,853.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Juan C. Andrade sold 9,373 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $146.06, for a total value of $1,369,020.38. Following the completion of the sale, the insider now directly owns 110,195 shares in the company, valued at approximately $16,095,081.70. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.
Chubb (NYSE:CB) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $3.17 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.86. The firm had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.64 billion. Chubb had a return on equity of 7.52% and a net margin of 11.87%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.72 EPS. equities research analysts expect that Chubb Ltd will post 10.76 earnings per share for the current fiscal year.
Chubb announced that its board has approved a share buyback program on Thursday, December 21st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 20th. Shareholders of record on Thursday, March 29th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, March 28th. Chubb’s payout ratio is currently 32.20%.
Several analysts recently issued reports on CB shares. Wells Fargo & Co set a $169.00 price target on Chubb and gave the stock a “buy” rating in a report on Wednesday, November 29th. Barclays raised their price target on Chubb from $169.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Goldman Sachs Group started coverage on Chubb in a report on Monday, December 4th. They issued a “buy” rating and a $167.00 price target on the stock. JPMorgan Chase & Co. raised Chubb from a “neutral” rating to an “overweight” rating in a report on Wednesday, November 8th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $156.00 price target on shares of Chubb in a report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $165.25.
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Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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