SOA Wealth Advisors LLC. purchased a new position in shares of Chubb Limited (NYSE:CB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 598 shares of the financial services provider’s stock, valued at approximately $98,000.
Several other large investors have also recently added to or reduced their stakes in CB. Childress Capital Advisors LLC bought a new stake in Chubb in the fourth quarter valued at approximately $144,000. tru Independence LLC boosted its holdings in Chubb by 703.9% in the fourth quarter. tru Independence LLC now owns 410 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 359 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Chubb by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,980,455 shares of the financial services provider’s stock valued at $304,802,000 after acquiring an additional 20,282 shares during the last quarter. SkyView Investment Advisors LLC bought a new stake in Chubb in the fourth quarter valued at approximately $533,000. Finally, Norges Bank bought a new stake in Chubb in the fourth quarter valued at approximately $493,517,000. Institutional investors own 85.79% of the company’s stock.
In other news, insider John J. Lupica sold 4,337 shares of the stock in a transaction on Monday, March 15th. The stock was sold at an average price of $175.03, for a total transaction of $759,105.11. Following the completion of the transaction, the insider now owns 145,604 shares in the company, valued at approximately $25,485,068.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Paul J. Krump sold 5,600 shares of the stock in a transaction on Monday, February 8th. The stock was sold at an average price of $165.05, for a total value of $924,280.00. Following the transaction, the insider now owns 101,921 shares of the company’s stock, valued at approximately $16,822,061.05. The disclosure for this sale can be found here. Insiders have sold a total of 22,087 shares of company stock valued at $3,690,300 in the last quarter. 0.37% of the stock is owned by corporate insiders.
Chubb (NYSE:CB) last announced its quarterly earnings data on Monday, February 1st. The financial services provider reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.36. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.83 billion. Chubb had a return on equity of 5.33% and a net margin of 6.24%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 EPS. As a group, sell-side analysts predict that Chubb Limited will post 7.02 EPS for the current fiscal year.
Chubb declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 3rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 9th. Stockholders of record on Friday, March 19th will be paid a dividend of $0.78 per share. The ex-dividend date is Thursday, March 18th. This represents a $3.12 annualized dividend and a dividend yield of 1.94%. Chubb’s payout ratio is 30.86%.
Several brokerages recently commented on CB. JPMorgan Chase & Co. cut Chubb from an “overweight” rating to a “neutral” rating and upped their target price for the company from $152.00 to $155.00 in a report on Monday, January 4th. Citigroup boosted their price target on Chubb from $178.00 to $187.00 in a research note on Wednesday, March 31st. Raymond James boosted their price target on Chubb from $190.00 to $200.00 and gave the company a “strong-buy” rating in a research note on Wednesday, March 17th. Morgan Stanley boosted their price target on Chubb from $149.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 12th. Finally, Barclays boosted their price target on Chubb from $173.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, February 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $163.17.
Chubb Limited, through its subsidiaries, 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 in the United States, Canada, and Bermuda.
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