Tyche Wealth Partners LLC Acquires Shares of 3,580 Chubb Limited (NYSE:CB)

Tyche Wealth Partners LLC bought a new position in shares of Chubb Limited (NYSE:CB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,580 shares of the financial services provider’s stock, valued at approximately $809,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Chubb by 4.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,492 shares of the financial services provider’s stock valued at $35,141,000 after acquiring an additional 6,170 shares during the period. Everence Capital Management Inc. increased its stake in shares of Chubb by 19.1% in the fourth quarter. Everence Capital Management Inc. now owns 10,550 shares of the financial services provider’s stock valued at $2,384,000 after purchasing an additional 1,690 shares during the period. Desjardins Global Asset Management Inc. raised its holdings in shares of Chubb by 6.7% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 7,887 shares of the financial services provider’s stock valued at $1,782,000 after buying an additional 498 shares during the last quarter. Cookson Peirce & Co. Inc. grew its holdings in Chubb by 71.3% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 5,464 shares of the financial services provider’s stock worth $1,235,000 after buying an additional 2,274 shares in the last quarter. Finally, Main Street Research LLC increased its position in Chubb by 2.4% in the 4th quarter. Main Street Research LLC now owns 108,202 shares of the financial services provider’s stock valued at $24,546,000 after acquiring an additional 2,492 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on CB. Piper Sandler reiterated an “overweight” rating and set a $282.00 price target on shares of Chubb in a research report on Monday, April 1st. Royal Bank of Canada raised their target price on shares of Chubb from $255.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. BMO Capital Markets upped their price target on shares of Chubb from $220.00 to $240.00 and gave the company a “market perform” rating in a research report on Monday, February 5th. Wells Fargo & Company boosted their target price on shares of Chubb from $234.00 to $255.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Finally, Keefe, Bruyette & Woods increased their target price on Chubb from $275.00 to $297.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $266.37.

Chubb Stock Performance

Shares of NYSE:CB traded up $0.77 on Wednesday, hitting $245.21. 1,257,334 shares of the company were exchanged, compared to its average volume of 1,448,250. The company’s 50 day moving average price is $252.50 and its two-hundred day moving average price is $233.73. The firm has a market capitalization of $99.55 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.16 and a beta of 0.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. Chubb Limited has a one year low of $183.71 and a one year high of $260.58.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $8.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.07 by $3.23. Chubb had a return on equity of 16.45% and a net margin of 18.11%. The firm had revenue of $13.38 billion for the quarter, compared to analyst estimates of $12.88 billion. Research analysts expect that Chubb Limited will post 21.15 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Thursday, March 14th. Chubb’s dividend payout ratio (DPR) is presently 15.76%.

Insider Buying and Selling at Chubb

In related news, insider John J. Lupica sold 34,464 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total value of $8,923,418.88. Following the sale, the insider now owns 130,937 shares of the company’s stock, valued at approximately $33,902,208.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Chubb news, insider John J. Lupica sold 34,464 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total value of $8,923,418.88. Following the transaction, the insider now directly owns 130,937 shares in the company, valued at $33,902,208.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Timothy Alan Boroughs sold 33,150 shares of Chubb stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 50,486 shares of the company’s stock, valued at approximately $12,879,483.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,043 shares of company stock valued at $29,766,694. 0.86% of the stock is currently owned by corporate 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.