Peterson Wealth Services Takes $1.87 Million Position in Chubb Limited (NYSE:CB)

Peterson Wealth Services acquired a new position in Chubb Limited (NYSE:CB) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,275 shares of the financial services provider’s stock, valued at approximately $1,870,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC purchased a new stake in shares of Chubb in the fourth quarter worth $25,000. IMA Wealth Inc. grew its position in Chubb by 275.7% during the 2nd quarter. IMA Wealth Inc. now owns 139 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 102 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new position in Chubb in the third quarter worth about $28,000. ZRC Wealth Management LLC bought a new position in shares of Chubb in the fourth quarter worth approximately $29,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Chubb during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Annmarie T. Hagan sold 7,180 shares of Chubb stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.04, for a total value of $1,759,387.20. Following the sale, the chief accounting officer now directly owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chubb news, EVP Timothy Alan Boroughs sold 33,150 shares of Chubb stock in a transaction on Monday, February 26th. The shares were sold at an average price of $255.11, for a total value of $8,456,896.50. Following the completion of the transaction, the executive vice president now directly owns 50,486 shares of the company’s stock, valued at approximately $12,879,483.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Annmarie T. Hagan sold 7,180 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the sale, the chief accounting officer now owns 6,105 shares in the company, valued at $1,495,969.20. The disclosure for this sale can be found here. Insiders have sold a total of 116,043 shares of company stock worth $29,766,694 in the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Chubb Price Performance

Shares of Chubb stock traded up $1.78 during trading hours on Thursday, hitting $245.31. The company’s stock had a trading volume of 239,394 shares, compared to its average volume of 1,699,232. The company has a market cap of $99.59 billion, a PE ratio of 11.15, a PEG ratio of 1.16 and a beta of 0.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. The business has a 50 day moving average price of $252.43 and a two-hundred day moving average price of $233.80. Chubb Limited has a 12-month low of $183.71 and a 12-month high of $260.58.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $8.30 EPS for the quarter, topping analysts’ consensus estimates of $5.07 by $3.23. Chubb had a return on equity of 16.45% and a net margin of 18.11%. The company had revenue of $13.38 billion for the quarter, compared to analysts’ expectations of $12.88 billion. Analysts expect that Chubb Limited will post 21.13 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.86 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a yield of 1.40%. Chubb’s dividend payout ratio is currently 15.76%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CB shares. TD Cowen began coverage on Chubb in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $254.00 price objective on the stock. Wells Fargo & Company boosted their target price on Chubb from $234.00 to $255.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. Piper Sandler reiterated an “overweight” rating and issued a $282.00 price target on shares of Chubb in a research note on Monday, April 1st. Keefe, Bruyette & Woods increased their price objective on shares of Chubb from $275.00 to $297.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, Evercore ISI lifted their target price on shares of Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Chubb has a consensus rating of “Moderate Buy” and an average price target of $266.37.

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.