Wedbush Securities Inc. Acquires 2,496 Shares of Chubb Limited (NYSE:CB)

Wedbush Securities Inc. boosted its stake in Chubb Limited (NYSE:CB) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,064 shares of the financial services provider’s stock after acquiring an additional 2,496 shares during the period. Wedbush Securities Inc.’s holdings in Chubb were worth $4,438,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CB. Vanguard Group Inc. boosted its stake in shares of Chubb by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider’s stock valued at $10,072,097,000 after purchasing an additional 271,648 shares in the last quarter. GQG Partners LLC boosted its position in Chubb by 36.3% during the 4th quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock valued at $1,223,932,000 after acquiring an additional 1,178,628 shares in the last quarter. Norges Bank purchased a new position in shares of Chubb during the 4th quarter worth approximately $1,169,720,000. Raymond James Financial Inc. bought a new position in shares of Chubb in the 4th quarter worth approximately $1,158,897,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Chubb by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,235,155 shares of the financial services provider’s stock valued at $617,573,000 after purchasing an additional 46,068 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

CB opened at $280.74 on Friday. The company’s 50-day simple moving average is $282.25 and its two-hundred day simple moving average is $281.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The stock has a market capitalization of $112.41 billion, a P/E ratio of 12.36, a P/E/G ratio of 3.36 and a beta of 0.66. Chubb Limited has a 52-week low of $238.85 and a 52-week high of $306.91.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Friday, March 14th. Chubb’s payout ratio is currently 16.02%.

Insider Activity at Chubb

In other news, EVP Timothy Alan Boroughs sold 14,748 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the completion of the sale, the executive vice president now owns 29,194 shares of the company’s stock, valued at $8,644,927.28. The trade was a 33.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Evan G. Greenberg sold 25,728 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total value of $7,498,425.60. Following the completion of the transaction, the chief executive officer now directly owns 584,395 shares in the company, valued at approximately $170,321,922.75. This represents a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,470 shares of company stock worth $18,562,730. 0.86% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CB shares. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price objective on shares of Chubb in a research report on Thursday, January 30th. Barclays dropped their price objective on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a report on Friday, January 31st. HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target on the stock in a research note on Wednesday, March 5th. Finally, JMP Securities reiterated a “market outperform” rating and set a $325.00 price objective on shares of Chubb in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $303.14.

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.