Berry Wealth Group LP Acquires Shares of 19,683 Chubb Limited (NYSE:CB)

Berry Wealth Group LP bought a new position in shares of Chubb Limited (NYSE:CB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,683 shares of the financial services provider’s stock, valued at approximately $4,448,000. Chubb makes up 4.1% of Berry Wealth Group LP’s holdings, making the stock its 9th largest position.

A number of other institutional investors have also recently modified their holdings of CB. Americana Partners LLC purchased a new stake in shares of Chubb during the 3rd quarter worth approximately $292,000. Lazard Asset Management LLC boosted 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 purchasing an additional 495,860 shares in the last quarter. Alphinity Investment Management Pty Ltd boosted its position in Chubb by 155.8% during the fourth 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. Graypoint LLC raised its stake in shares of Chubb by 1,275.7% during the 4th quarter. Graypoint LLC now owns 31,599 shares of the financial services provider’s stock worth $7,141,000 after buying an additional 29,302 shares during the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in shares of Chubb in the 4th quarter worth about $1,403,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CB. Raymond James increased their price target 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. JMP Securities reiterated a “market outperform” rating and set a $280.00 target price on shares of Chubb in a report on Monday, April 15th. Wells Fargo & Company boosted their price target on Chubb from $234.00 to $255.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. StockNews.com lowered Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, Citigroup reiterated a “neutral” rating and set a $275.00 price objective (up previously from $238.00) on shares of Chubb in a research report on Thursday, March 14th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $266.89.

Insider Buying and Selling

In other news, CAO Annmarie T. Hagan sold 7,180 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Annmarie T. Hagan sold 7,180 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the transaction, the chief accounting officer now directly owns 6,105 shares in the company, valued at $1,495,969.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John J. Lupica sold 34,464 shares of the stock in a transaction that occurred on 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 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. In the last 90 days, insiders have sold 116,043 shares of company stock valued at $29,766,694. Insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of CB traded up $1.52 during mid-day trading on Wednesday, hitting $250.16. The stock had a trading volume of 424,413 shares, compared to its average volume of 1,739,102. Chubb Limited has a fifty-two week low of $183.71 and a fifty-two week high of $260.58. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.21. The company has a market cap of $101.58 billion, a PE ratio of 11.04, a PEG ratio of 1.18 and a beta of 0.62. The company’s fifty day simple moving average is $252.26 and its two-hundred day simple moving average is $236.43.

Chubb (NYSE:CB) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $11.75 billion. During the same quarter in the previous year, the firm earned $4.41 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts expect that Chubb Limited will post 21.18 earnings per share for the current year.

Chubb Dividend Announcement

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

About Chubb

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.