HM Payson & Co. Raises Holdings in Chubb Limited (NYSE:CB)

HM Payson & Co. raised its holdings in shares of Chubb Limited (NYSE:CB) by 8.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,171 shares of the financial services provider’s stock after purchasing an additional 727 shares during the period. HM Payson & Co.’s holdings in Chubb were worth $2,770,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CB. Peoples Bank KS purchased a new position in shares of Chubb in the 1st quarter worth $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Chubb in the 1st quarter worth $25,000. North Capital Inc. purchased a new position in shares of Chubb in the 1st quarter worth $26,000. Crowley Wealth Management Inc. purchased a new position in shares of Chubb in the 4th quarter worth $29,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock worth $34,000 after buying an additional 89 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chubb

In other Chubb news, COO John W. Keogh sold 9,794 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the sale, the chief operating officer directly owned 247,538 shares of the company’s stock, valued at $72,526,158.62. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John J. Lupica sold 5,513 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,390 shares of company stock worth $29,163,135. Insiders own 0.77% of the company’s stock.

Chubb Price Performance

NYSE:CB opened at $281.99 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The business’s 50-day simple moving average is $287.96 and its two-hundred day simple moving average is $282.09. The stock has a market cap of $113.00 billion, a PE ratio of 13.57, a P/E/G ratio of 3.16 and a beta of 0.53. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91.

Chubb (NYSE:CB) last posted its quarterly 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. The business had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. As a group, analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb announced that its Board of Directors has initiated a stock buyback program on Thursday, May 15th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, June 13th. This is a boost from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.38%. Chubb’s dividend payout ratio (DPR) is currently 18.67%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CB. Raymond James Financial restated a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Piper Sandler raised their price target on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Jefferies Financial Group raised their target price on Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a report on Friday, April 11th. Wells Fargo & Company raised their target price on Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Finally, UBS Group raised their target price on Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $307.53.

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.