Meridian Wealth Management LLC Boosts Stock Position in Chubb Limited (NYSE:CB)

Meridian Wealth Management LLC raised its stake in shares of Chubb Limited (NYSE:CBFree Report) by 19.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,634 shares of the financial services provider’s stock after buying an additional 427 shares during the quarter. Meridian Wealth Management LLC’s holdings in Chubb were worth $595,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. ZRC Wealth Management LLC bought a new position in Chubb in the 4th quarter valued at approximately $29,000. EdgeRock Capital LLC purchased a new stake in shares of Chubb during the fourth quarter valued at $35,000. Tennessee Valley Asset Management Partners bought a new stake in Chubb in the 4th quarter worth about $32,000. Northwest Financial Advisors bought a new stake in Chubb in the 4th quarter worth about $33,000. Finally, Naples Money Management LLC purchased a new position in Chubb in the 4th quarter worth about $34,000. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Raymond James lifted their price target on shares of Chubb from $270.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 1st. JMP Securities reissued a “market outperform” rating and set a $280.00 price target on shares of Chubb in a report on Monday, April 15th. Wells Fargo & Company lifted their price objective 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 cut Chubb from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, HSBC reaffirmed a “hold” rating and set a $270.00 price target (down previously from $275.00) on shares of Chubb in a research report on Thursday, April 4th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb presently has an average rating of “Moderate Buy” and an average price target of $266.74.

Check Out Our Latest Stock Report on Chubb

Chubb Price Performance

CB traded up $9.40 during trading on Friday, hitting $274.28. 4,303,251 shares of the company traded hands, compared to its average volume of 1,722,022. The company has a market cap of $111.37 billion, a PE ratio of 12.18, a P/E/G ratio of 1.25 and a beta of 0.63. The stock’s 50-day simple moving average is $253.02 and its two-hundred day simple moving average is $239.96. Chubb Limited has a 1 year low of $183.71 and a 1 year high of $275.41. 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 (NYSE:CBGet Free Report) last posted 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. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. Chubb’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the company posted $4.41 earnings per share. As a group, sell-side analysts anticipate that Chubb Limited will post 21.21 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.33%. This is a boost from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, June 14th. Chubb’s dividend payout ratio (DPR) is presently 15.27%.

Insider Activity at Chubb

In other Chubb news, CAO Annmarie T. Hagan sold 1,529 shares of Chubb stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the completion of the transaction, the chief accounting officer now directly owns 7,718 shares of the company’s stock, valued at approximately $2,036,085.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Chubb news, CAO Annmarie T. Hagan sold 1,529 shares of Chubb stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the completion of the transaction, the chief accounting officer now directly owns 7,718 shares of the company’s stock, valued at approximately $2,036,085.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO John W. Keogh sold 34,707 shares of Chubb stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the completion of the transaction, the chief operating officer now directly owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,099 shares of company stock valued at $37,156,142. Corporate insiders own 0.86% of the company’s stock.

Chubb Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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