Thrive Wealth Management LLC Makes New $212,000 Investment in Chubb Limited (NYSE:CB)

Thrive Wealth Management LLC acquired a new stake in Chubb Limited (NYSE:CB) during the first quarter, HoldingsChannel reports. The fund acquired 817 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other institutional investors also recently bought and sold shares of CB. Norges Bank purchased a new stake in shares of Chubb during the 4th quarter worth $957,756,000. Confluence Investment Management LLC purchased a new position in Chubb in the first quarter valued at about $165,932,000. Bank of Nova Scotia lifted its position in shares of Chubb by 198.8% during the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after acquiring an additional 518,535 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Chubb by 978.1% during the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock worth $113,781,000 after acquiring an additional 495,860 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Chubb by 19,454.2% in the 4th quarter. International Assets Investment Management LLC now owns 485,336 shares of the financial services provider’s stock worth $1,096,860,000 after acquiring an additional 482,854 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on CB shares. Morgan Stanley upped their target price on Chubb from $258.00 to $260.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. JMP Securities restated a “market outperform” rating and set a $280.00 target price on shares of Chubb in a research report on Monday, April 15th. Citigroup reiterated a “neutral” rating and issued a $275.00 price target (up from $238.00) on shares of Chubb in a research report on Thursday, March 14th. Evercore ISI increased their target price on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Finally, Royal Bank of Canada decreased their price objective on Chubb from $295.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Chubb presently has an average rating of “Moderate Buy” and an average price target of $266.70.

Insider Activity at Chubb

In related news, CAO Annmarie T. Hagan sold 1,529 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $263.81, for a total transaction of $403,365.49. Following the transaction, the chief accounting officer now directly owns 7,718 shares in the company, valued at $2,036,085.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Annmarie T. Hagan sold 1,529 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the sale, the chief accounting officer now owns 7,718 shares of the company’s stock, valued at $2,036,085.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO John W. Keogh sold 34,707 shares of Chubb stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total value of $8,745,469.86. Following the sale, the chief operating officer now directly owns 284,136 shares in the company, valued at $71,596,589.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,552 shares of company stock valued at $12,149,985. Corporate insiders own 0.86% of the company’s stock.

Chubb Stock Performance

CB stock traded up $2.04 during trading on Thursday, hitting $262.05. 941,974 shares of the company’s stock traded hands, compared to its average volume of 1,678,678. The stock has a market capitalization of $106.41 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 6.32 and a beta of 0.66. Chubb Limited has a 52 week low of $183.71 and a 52 week high of $275.41. The stock has a fifty day moving average price of $258.87 and a two-hundred day moving average price of $248.17. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter in the prior year, the firm earned $4.41 EPS. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, equities analysts anticipate that Chubb Limited will post 21.15 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders 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 dividend yield of 1.39%. The ex-dividend date is Friday, June 14th. This is an increase from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio is 16.16%.

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.