First Affirmative Financial Network Sells 173 Shares of Chubb Limited (NYSE:CB)

First Affirmative Financial Network lowered its position in shares of Chubb Limited (NYSE:CB) by 6.0% during the first quarter, Holdings Channel.com reports. The firm owned 2,714 shares of the financial services provider’s stock after selling 173 shares during the quarter. First Affirmative Financial Network’s holdings in Chubb were worth $820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in CB. Peoples Bank KS bought a new position in Chubb during the 1st quarter worth $25,000. Sierra Ocean LLC acquired a new position in Chubb in the 4th quarter valued at $29,000. Crowley Wealth Management Inc. acquired a new position in Chubb in the 4th quarter valued at $29,000. Strategic Financial Concepts LLC acquired a new position in Chubb in the 4th quarter valued at $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 89 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CB shares. Wells Fargo & Company lifted their price objective on Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft cut Chubb from a “buy” rating to a “hold” rating and set a $303.00 price objective for the company. in a report on Tuesday, May 20th. Piper Sandler lifted their price objective on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a report on Tuesday, April 1st. Jefferies Financial Group lifted their price objective on Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a report on Friday, April 11th. Finally, Raymond James reaffirmed a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $307.53.

Insider Buying and Selling

In other Chubb news, EVP Timothy Alan Boroughs sold 14,748 shares of Chubb stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the transaction, the executive vice president now directly owns 29,194 shares of the company’s stock, valued at approximately $8,644,927.28. The trade was a 33.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO George F. Ohsiek sold 763 shares of Chubb stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.41, for a total value of $221,582.83. Following the transaction, the chief accounting officer now directly owns 20,044 shares in the company, valued at $5,820,978.04. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,553 shares of company stock worth $40,387,620 in the last 90 days. Insiders own 0.77% of the company’s stock.

Chubb Trading Up 0.8%

Shares of CB opened at $293.95 on Friday. The firm has a market cap of $117.79 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 3.36 and a beta of 0.54. Chubb Limited has a 52-week low of $251.42 and a 52-week high of $306.91. 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 business’s fifty day moving average is $287.64 and its 200-day moving average is $281.72.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.32%. This is a positive change from Chubb’s previous quarterly dividend of $0.91. Chubb’s payout ratio is currently 18.67%.

Chubb declared that its Board of Directors has approved a stock buyback program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Chubb 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.