Modern Wealth Management LLC Has $583,000 Stake in Chubb Limited (NYSE:CB)

Modern Wealth Management LLC lifted its position in shares of Chubb Limited (NYSE:CB) by 18.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,187 shares of the financial services provider’s stock after purchasing an additional 337 shares during the quarter. Modern Wealth Management LLC’s holdings in Chubb were worth $583,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Chubb by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider’s stock valued at $10,072,097,000 after acquiring an additional 271,648 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Chubb in the fourth quarter valued at approximately $1,158,897,000. Charles Schwab Investment Management Inc. lifted its position in shares of Chubb by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,235,155 shares of the financial services provider’s stock worth $617,573,000 after purchasing an additional 46,068 shares in the last quarter. Barclays PLC boosted its holdings in Chubb by 28.1% during the third quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock worth $511,226,000 after purchasing an additional 388,746 shares during the last quarter. Finally, Amundi grew its position in Chubb by 8.1% in the fourth quarter. Amundi now owns 1,308,179 shares of the financial services provider’s stock valued at $348,826,000 after purchasing an additional 97,705 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Trading Up 1.3 %

Shares of CB stock opened at $295.16 on Thursday. Chubb Limited has a 12-month low of $238.85 and a 12-month high of $302.05. The firm has a 50 day moving average price of $278.22 and a two-hundred day moving average price of $281.35. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $118.19 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.23%. Chubb’s dividend payout ratio (DPR) is presently 16.02%.

Insider Buying and Selling

In related news, EVP Joseph F. Wayland sold 12,231 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the sale, the executive vice president now owns 78,422 shares of the company’s stock, valued at $23,120,374.04. This represents a 13.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Timothy Alan Boroughs sold 14,748 shares of Chubb stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the completion of the transaction, the executive vice president now directly owns 29,194 shares of the company’s stock, valued at $8,644,927.28. This 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 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is owned by company insiders.

Analyst Ratings Changes

CB has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. JMP Securities reiterated a “market outperform” rating and set a $325.00 target price on shares of Chubb in a report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price target on Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Barclays dropped their price objective on Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company decreased their target price on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb currently has a consensus rating of “Hold” and an average target price of $301.00.

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.