Provence Wealth Management Group Raises Stock Holdings in Chubb Limited (NYSE:CB)

Provence Wealth Management Group boosted its stake in Chubb Limited (NYSE:CB) by 4,763.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,070 shares of the financial services provider’s stock after buying an additional 1,048 shares during the period. Provence Wealth Management Group’s holdings in Chubb were worth $242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its stake in Chubb by 4.2% during the third quarter. Commonwealth Equity Services LLC now owns 76,125 shares of the financial services provider’s stock worth $15,848,000 after purchasing an additional 3,068 shares during the period. Stratos Wealth Advisors LLC increased its stake in Chubb by 2.1% during the third quarter. Stratos Wealth Advisors LLC now owns 4,767 shares of the financial services provider’s stock worth $992,000 after purchasing an additional 99 shares during the period. Northstar Asset Management LLC increased its stake in Chubb by 2.2% during the third quarter. Northstar Asset Management LLC now owns 3,550 shares of the financial services provider’s stock worth $739,000 after purchasing an additional 75 shares during the period. Compass Wealth Management LLC increased its stake in Chubb by 22.4% during the third quarter. Compass Wealth Management LLC now owns 4,909 shares of the financial services provider’s stock worth $1,022,000 after purchasing an additional 897 shares during the period. Finally, Sawyer & Company Inc increased its stake in Chubb by 17.8% during the third quarter. Sawyer & Company Inc now owns 1,351 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 204 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Price Performance

NYSE:CB traded down $1.71 during trading hours on Friday, hitting $248.54. The company’s stock had a trading volume of 1,444,710 shares, compared to its average volume of 1,737,362. The business’s 50-day moving average is $251.96 and its two-hundred day moving average is $236.86. The company has a market capitalization of $100.92 billion, a PE ratio of 11.03, a PEG ratio of 1.18 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. Chubb Limited has a 52-week low of $183.71 and a 52-week high of $260.58.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.29 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. Chubb’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.41 earnings per share. As a group, research analysts anticipate that Chubb Limited will post 21.18 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.44 annualized dividend and a yield of 1.38%. Chubb’s dividend payout ratio (DPR) is currently 15.27%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CB shares. The Goldman Sachs Group upped their target price on shares of Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Citigroup restated a “neutral” rating and set a $275.00 target price (up from $238.00) on shares of Chubb in a research note on Thursday, March 14th. Wells Fargo & Company upped their target price on shares of Chubb from $234.00 to $255.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. BMO Capital Markets upped their target price on shares of Chubb from $220.00 to $240.00 and gave the stock a “market perform” rating in a research note on Monday, February 5th. Finally, HSBC restated a “hold” rating and set a $270.00 target price (down from $275.00) on shares of Chubb in a research note on Thursday, April 4th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $266.89.

Insiders Place Their Bets

In related news, EVP Timothy Alan Boroughs sold 33,150 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $255.11, for a total value of $8,456,896.50. Following the sale, the executive vice president now owns 50,486 shares of the company’s stock, valued at approximately $12,879,483.46. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Chubb news, EVP Timothy Alan Boroughs sold 33,150 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $255.11, for a total transaction of $8,456,896.50. Following the sale, the executive vice president now directly owns 50,486 shares of the company’s stock, valued at approximately $12,879,483.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John J. Lupica sold 34,464 shares of Chubb stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the sale, the insider now owns 130,937 shares of the company’s stock, valued at $33,902,208.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,863 shares of company stock worth $28,007,307. 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.