Prestige Wealth Management Group LLC Raises Stake in Chubb Limited (NYSE:CB)

Prestige Wealth Management Group LLC increased its stake in Chubb Limited (NYSE:CBFree Report) by 12.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,019 shares of the financial services provider’s stock after purchasing an additional 332 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Chubb were worth $685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG raised its stake in shares of Chubb by 426.8% during the 3rd quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock worth $3,355,762,000 after buying an additional 13,059,385 shares during the last quarter. Lazard Asset Management LLC raised its position in Chubb by 978.1% during the third quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock worth $113,781,000 after acquiring an additional 495,860 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Chubb by 19,454.2% in the fourth quarter. International Assets Investment Management LLC now owns 485,336 shares of the financial services provider’s stock valued at $1,096,860,000 after purchasing an additional 482,854 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Chubb by 43.4% in the third quarter. Envestnet Asset Management Inc. now owns 1,107,362 shares of the financial services provider’s stock valued at $230,531,000 after purchasing an additional 334,970 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd increased its stake in shares of Chubb by 155.8% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock worth $120,235,000 after purchasing an additional 324,019 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Trading Up 3.5 %

Shares of Chubb stock traded up $9.40 during trading hours on Friday, reaching $274.28. The stock had a trading volume of 4,303,251 shares, compared to its average volume of 1,722,022. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. Chubb Limited has a 1 year low of $183.71 and a 1 year high of $275.41. The firm has a market capitalization of $111.37 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 1.25 and a beta of 0.63. The firm has a 50 day simple moving average of $253.02 and a two-hundred day simple moving average of $240.13.

Chubb (NYSE:CBGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same period in the previous year, the company posted $4.41 earnings per share. Chubb’s revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Chubb Limited will post 21.21 earnings per share for the current year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued a $0.91 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, June 14th. Chubb’s dividend payout ratio is currently 16.16%.

Insider Buying and Selling at Chubb

In other news, insider John J. Lupica sold 34,464 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total value of $8,923,418.88. Following the completion of the sale, the insider now owns 130,937 shares of the company’s stock, valued at $33,902,208.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO John W. Keogh sold 34,707 shares of Chubb stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the sale, the chief operating officer now owns 284,136 shares of the company’s stock, valued at approximately $71,596,589.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John J. Lupica sold 34,464 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the completion of the transaction, the insider now directly owns 130,937 shares of the company’s stock, valued at $33,902,208.04. The disclosure for this sale can be found here. Insiders have sold 145,099 shares of company stock valued at $37,156,142 over the last three months. 0.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Morgan Stanley upped their target price on Chubb from $258.00 to $260.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Citigroup reissued a “neutral” rating and issued a $275.00 target price (up previously from $238.00) on shares of Chubb in a research note on Thursday, March 14th. Evercore ISI raised their price target on shares of Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Raymond James boosted their price objective on shares of Chubb from $270.00 to $285.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 1st. Finally, BMO Capital Markets raised their target price on shares of Chubb from $220.00 to $240.00 and gave the stock a “market perform” rating in a research report on Monday, February 5th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.74.

Check Out Our Latest Analysis on CB

Chubb Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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