Meristem Family Wealth LLC Acquires 241 Shares of Chubb Ltd (NYSE:CB)

Meristem Family Wealth LLC increased its position in shares of Chubb Ltd (NYSE:CB) by 7.6% during the 1st quarter, Holdings Channel reports. The firm owned 3,410 shares of the financial services provider’s stock after acquiring an additional 241 shares during the period. Meristem Family Wealth LLC’s holdings in Chubb were worth $381,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CB. Norges Bank purchased a new stake in Chubb in the 4th quarter valued at about $629,466,000. Cullen Capital Management LLC increased its position in shares of Chubb by 221.1% in the 1st quarter. Cullen Capital Management LLC now owns 1,168,503 shares of the financial services provider’s stock valued at $130,510,000 after acquiring an additional 804,637 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Chubb by 27.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,251,181 shares of the financial services provider’s stock worth $506,079,000 after buying an additional 709,767 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Chubb by 4.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,740,607 shares of the financial services provider’s stock valued at $2,138,862,000 after purchasing an additional 613,562 shares in the last quarter. Finally, Nuance Investments LLC grew its stake in Chubb by 689.7% during the 4th quarter. Nuance Investments LLC now owns 543,468 shares of the financial services provider’s stock valued at $84,596,000 after acquiring an additional 474,646 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Shares of CB traded down $2.31 during mid-day trading on Monday, hitting $119.63. 43,307 shares of the company’s stock traded hands, compared to its average volume of 3,543,595. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $55.04 billion, a P/E ratio of 15.24, a PEG ratio of 1.24 and a beta of 0.72. The business’s 50-day moving average price is $109.57 and its 200-day moving average price is $136.66. Chubb Ltd has a 1 year low of $87.35 and a 1 year high of $167.74.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.68 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.01). Chubb had a net margin of 10.21% and a return on equity of 8.69%. The company had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $7.14 billion. During the same quarter last year, the firm earned $2.54 EPS. The business’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts anticipate that Chubb Ltd will post 9.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.61%. This is a boost from Chubb’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, June 18th. Chubb’s dividend payout ratio is presently 29.67%.

In other Chubb news, Director Robert W. Scully acquired 9,750 shares of the business’s stock in a transaction on Friday, May 1st. The shares were acquired at an average price of $102.40 per share, for a total transaction of $998,400.00. Following the completion of the acquisition, the director now owns 20,723 shares in the company, valued at $2,122,035.20. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Theodore Shasta bought 2,000 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were acquired at an average cost of $99.74 per share, with a total value of $199,480.00. Following the purchase, the director now directly owns 16,375 shares of the company’s stock, valued at approximately $1,633,242.50. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by corporate insiders.

A number of research firms have recently commented on CB. Atlantic Securities upgraded Chubb from an “underweight” rating to a “neutral” rating and set a $130.00 target price on the stock in a research report on Tuesday, March 24th. JMP Securities cut their price objective on Chubb from $175.00 to $165.00 and set a “market outperform” rating on the stock in a report on Thursday, April 16th. Raymond James reaffirmed a “buy” rating and set a $130.00 target price on shares of Chubb in a research report on Friday, May 8th. Royal Bank of Canada lowered their price target on shares of Chubb from $178.00 to $154.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Finally, Piper Sandler upgraded Chubb from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $145.00 to $131.00 in a report on Monday, April 6th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $147.53.

About Chubb

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional 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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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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