SeaCrest Wealth Management LLC Sells 105 Shares of Chubb Limited (NYSE:CB)

SeaCrest Wealth Management LLC lessened its stake in Chubb Limited (NYSE:CB) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,679 shares of the financial services provider’s stock after selling 105 shares during the period. SeaCrest Wealth Management LLC’s holdings in Chubb were worth $809,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Peoples Bank KS bought a new stake in shares of Chubb during the 1st quarter valued at $25,000. Sierra Ocean LLC purchased a new stake in Chubb in the 4th quarter worth $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Chubb in the 4th quarter worth about $29,000. Strategic Financial Concepts LLC bought a new stake in shares of Chubb in the 4th quarter worth about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of 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 worth $34,000 after buying an additional 89 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 0.8%

CB stock opened at $293.95 on Friday. The firm’s fifty day moving average is $287.64 and its 200 day moving average is $281.72. Chubb Limited has a one year low of $251.42 and a one year high of $306.91. The firm has a market cap of $117.79 billion, a PE ratio of 12.94, a P/E/G ratio of 3.36 and a beta of 0.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 16.63% and a return on equity of 13.75%. On average, research analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb Increases Dividend

The firm also recently declared 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 of this dividend is Friday, June 13th. This is a positive change from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.32%. Chubb’s payout ratio is presently 18.67%.

Chubb declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays reduced their price objective on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Morgan Stanley upped their target price on shares of Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 price objective on the stock. in a research note on Tuesday, May 20th. Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price for the company in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $307.53.

Insider Buying and Selling

In other news, COO John W. Keogh sold 85,083 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the sale, the chief operating officer now directly owns 237,728 shares of the company’s stock, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the business’s stock in a transaction that occurred 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 directly owns 29,194 shares in the company, valued at $8,644,927.28. This trade represents a 33.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,553 shares of company stock worth $40,387,620. 0.77% of the stock is owned by insiders.

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.