Provence Wealth Management Group Acquires 1,048 Shares of Chubb Limited (NYSE:CB)

Provence Wealth Management Group lifted its position in shares of Chubb Limited (NYSE:CB) by 4,763.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,070 shares of the financial services provider’s stock after purchasing an additional 1,048 shares during the quarter. Provence Wealth Management Group’s holdings in Chubb were worth $242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CB. ZRC Wealth Management LLC acquired a new stake in shares of Chubb in the fourth quarter valued at approximately $29,000. Tennessee Valley Asset Management Partners bought a new position in Chubb during the 4th quarter worth $32,000. Naples Money Management LLC bought a new position in Chubb during the 4th quarter worth $34,000. Bell Investment Advisors Inc boosted its holdings in shares of Chubb by 39.6% in the 3rd quarter. Bell Investment Advisors Inc now owns 208 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 59 shares in the last quarter. Finally, Addison Advisors LLC boosted its holdings in shares of Chubb by 87.0% in the 4th quarter. Addison Advisors LLC now owns 215 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 100 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chubb

In other news, EVP Timothy Alan Boroughs sold 33,150 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $255.11, for a total transaction of $8,456,896.50. Following the completion of the sale, the executive vice president now directly owns 50,486 shares in the company, valued at $12,879,483.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Chubb news, EVP Joseph F. Wayland sold 26,946 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.02, for a total transaction of $6,925,660.92. Following the completion of the transaction, the executive vice president now owns 95,252 shares of the company’s stock, valued at $24,481,669.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Alan Boroughs sold 33,150 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $255.11, for a total transaction of $8,456,896.50. Following the sale, the executive vice president now directly owns 50,486 shares of the company’s stock, valued at approximately $12,879,483.46. The disclosure for this sale can be found here. Insiders sold a total of 108,863 shares of company stock worth $28,007,307 over the last three months. Company insiders own 0.86% of the company’s stock.

Chubb Price Performance

Shares of Chubb stock traded down $1.71 during trading on Friday, hitting $248.54. The stock had a trading volume of 1,444,710 shares, compared to its average volume of 1,737,362. The firm has a market cap of $100.92 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 1.18 and a beta of 0.63. 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 12 month low of $183.71 and a 12 month high of $260.58. The business’s 50-day moving average is $251.96 and its 200 day moving average is $236.86.

Chubb (NYSE:CB) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.41 earnings per share. As a group, sell-side analysts anticipate that Chubb Limited will post 21.18 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.86 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.44 annualized dividend and a yield of 1.38%. Chubb’s payout ratio is 15.27%.

Wall Street Analyst Weigh In

CB has been the topic of several recent research reports. TD Cowen initiated coverage on Chubb in a report on Wednesday, January 10th. They set a “market perform” rating and a $254.00 price objective on the stock. HSBC reissued a “hold” rating and set a $270.00 price objective (down previously from $275.00) on shares of Chubb in a report on Thursday, April 4th. Piper Sandler reaffirmed an “overweight” rating and set a $282.00 target price on shares of Chubb in a report on Monday, April 1st. JPMorgan Chase & Co. lifted their target price on Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, UBS Group lifted their target price on Chubb from $245.00 to $256.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $266.89.

Chubb Company 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.