Griffin Asset Management Inc. Has $2.59 Million Position in Chubb Limited (NYSE:CB)

Griffin Asset Management Inc. raised its holdings in shares of Chubb Limited (NYSE:CB) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,988 shares of the financial services provider’s stock after purchasing an additional 154 shares during the quarter. Griffin Asset Management Inc.’s holdings in Chubb were worth $2,588,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Occidental Asset Management LLC increased its position in Chubb by 19.6% during the 1st quarter. Occidental Asset Management LLC now owns 10,136 shares of the financial services provider’s stock worth $2,627,000 after buying an additional 1,661 shares during the period. Webster Bank N. A. boosted its holdings in Chubb by 6.5% in the 1st quarter. Webster Bank N. A. now owns 5,077 shares of the financial services provider’s stock valued at $1,316,000 after purchasing an additional 312 shares during the period. Harbour Capital Advisors LLC grew its position in shares of Chubb by 1.6% during the 1st quarter. Harbour Capital Advisors LLC now owns 3,768 shares of the financial services provider’s stock worth $966,000 after purchasing an additional 59 shares in the last quarter. AMF Tjanstepension AB increased its holdings in shares of Chubb by 2.2% during the first quarter. AMF Tjanstepension AB now owns 45,242 shares of the financial services provider’s stock worth $11,753,000 after purchasing an additional 990 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its stake in shares of Chubb by 17.7% in the first quarter. Fifth Third Wealth Advisors LLC now owns 2,747 shares of the financial services provider’s stock valued at $712,000 after buying an additional 413 shares during the period. 83.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Evercore ISI upped their target price on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Piper Sandler reissued an “overweight” rating and issued a $282.00 price objective on shares of Chubb in a research note on Monday, April 1st. StockNews.com downgraded Chubb from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Keefe, Bruyette & Woods lowered their price target on Chubb from $297.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, May 7th. Finally, The Goldman Sachs Group raised their price objective on Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $266.70.

Chubb Trading Down 2.7 %

Shares of Chubb stock traded down $6.95 on Friday, hitting $255.08. 2,794,049 shares of the company’s stock traded hands, compared to its average volume of 1,375,378. The company has a market capitalization of $103.58 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 6.29 and a beta of 0.66. The company has a fifty day moving average of $259.30 and a two-hundred day moving average of $248.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29. Chubb Limited has a one year low of $183.71 and a one year high of $275.41.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) 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 firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same period last year, the company earned $4.41 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts expect that Chubb Limited will post 21.15 earnings per share for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio (DPR) is currently 16.16%.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 34,707 shares of the stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 284,136 shares in the company, valued at $71,596,589.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Chubb news, CAO Annmarie T. Hagan sold 1,529 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $263.81, for a total value of $403,365.49. Following the transaction, 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 can be accessed through the SEC website. Also, COO John W. Keogh sold 34,707 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 284,136 shares of the company’s stock, valued at approximately $71,596,589.28. The disclosure for this sale can be found here. Insiders have sold a total of 47,552 shares of company stock valued at $12,149,985 over the last 90 days. Insiders own 0.86% of the company’s stock.

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.