KCS Wealth Advisory Acquires Shares of 1,712 Chubb Ltd (CB)
KCS Wealth Advisory purchased a new stake in shares of Chubb Ltd (NYSE:CB) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,712 shares of the financial services provider’s stock, valued at approximately $250,000.
A number of other institutional investors have also made changes to their positions in CB. CIBC World Markets Inc. acquired a new stake in Chubb during the 2nd quarter valued at $394,000. Riverhead Capital Management LLC lifted its holdings in Chubb by 12.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,288 shares of the financial services provider’s stock valued at $1,205,000 after purchasing an additional 891 shares during the last quarter. Comerica Securities Inc. lifted its holdings in Chubb by 6.4% during the 2nd quarter. Comerica Securities Inc. now owns 3,890 shares of the financial services provider’s stock valued at $568,000 after purchasing an additional 233 shares during the last quarter. Bahl & Gaynor Inc. lifted its holdings in Chubb by 4.1% during the 2nd quarter. Bahl & Gaynor Inc. now owns 6,860 shares of the financial services provider’s stock valued at $906,000 after purchasing an additional 271 shares during the last quarter. Finally, BT Investment Management Ltd acquired a new stake in Chubb during the 2nd quarter valued at $656,000. 88.17% of the stock is owned by institutional investors and hedge funds.
Chubb Ltd (CB) opened at $145.64 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $67,609.29, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.96. Chubb Ltd has a 12-month low of $127.15 and a 12-month high of $156.00.
Chubb declared that its Board of Directors has approved a share buyback program on Thursday, December 21st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, December 28th. Chubb’s payout ratio is 34.05%.
In related news, CEO Evan G. Greenberg sold 95,761 shares of the firm’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 transaction, the chief executive officer now owns 1,367,229 shares in the company, valued at $199,013,853.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Bennett Medini sold 5,180 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $150.48, for a total value of $779,486.40. Following the completion of the transaction, the insider now owns 91,775 shares in the company, valued at approximately $13,810,302. The disclosure for this sale can be found here. Insiders have sold a total of 164,956 shares of company stock worth $24,417,316 in the last quarter. Company insiders own 0.43% of the company’s stock.
Several equities research analysts have issued reports on the company. Citigroup raised their price target on Chubb from $167.00 to $173.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $153.00 price target on shares of Chubb in a report on Sunday, October 29th. Wells Fargo & Co set a $169.00 price objective on Chubb and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Goldman Sachs Group started coverage on Chubb in a research report on Monday, December 4th. They set a “buy” rating and a $167.00 price objective on the stock. Finally, UBS Group increased their price objective on Chubb from $160.00 to $169.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $161.33.
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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