Core Alternative Capital Has $7.29 Million Position in Chubb Limited (NYSE:CB)

Core Alternative Capital cut its holdings in Chubb Limited (NYSE:CB) by 17.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,147 shares of the financial services provider’s stock after selling 5,011 shares during the period. Chubb makes up approximately 1.8% of Core Alternative Capital’s portfolio, making the stock its 16th biggest position. Core Alternative Capital’s holdings in Chubb were worth $7,292,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CB. Sunflower Bank N.A. increased its holdings in Chubb by 4.4% in the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 38 shares in the last quarter. Avantax Planning Partners Inc. grew its position in shares of Chubb by 5.1% during the 1st quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider’s stock worth $236,000 after buying an additional 38 shares during the period. Tandem Wealth Advisors LLC increased its stake in shares of Chubb by 3.0% in the 4th quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 40 shares in the last quarter. Unison Advisors LLC lifted its position in shares of Chubb by 0.3% during the 4th quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider’s stock valued at $3,742,000 after acquiring an additional 41 shares during the period. Finally, Sage Mountain Advisors LLC boosted its stake in Chubb by 1.7% during the fourth quarter. Sage Mountain Advisors LLC now owns 2,467 shares of the financial services provider’s stock worth $682,000 after acquiring an additional 42 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chubb

In other Chubb news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the transaction, the insider owned 91,180 shares of the company’s stock, valued at $26,447,670.80. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John W. Keogh sold 9,794 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the transaction, the chief operating officer directly owned 247,538 shares of the company’s stock, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,390 shares of company stock valued at $29,163,135 over the last ninety days. 0.77% of the stock is currently owned by insiders.

Analyst Ratings Changes

CB has been the subject of several research analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Wells Fargo & Company raised their target price on Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Piper Sandler upped their price target on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods cut their price target on Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Finally, Barclays decreased their price objective on Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $307.53.

Chubb Stock Up 0.7%

Shares of NYSE:CB opened at $281.99 on Friday. The business’s 50 day moving average is $287.96 and its 200 day moving average is $282.09. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The stock has a market cap of $113.00 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 3.16 and a beta of 0.53. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. On average, sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, June 13th. This is a boost from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.38%. Chubb’s payout ratio is 18.67%.

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.