Assetmark Inc. Acquires 4,756 Shares of Chubb Limited (NYSE:CB)

Assetmark Inc. raised its holdings in Chubb Limited (NYSE:CB) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,203 shares of the financial services provider’s stock after purchasing an additional 4,756 shares during the quarter. Assetmark Inc.’s holdings in Chubb were worth $12,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. ZRC Wealth Management LLC bought a new position in Chubb during the 4th quarter worth approximately $29,000. EdgeRock Capital LLC bought a new position in Chubb during the 4th quarter worth approximately $35,000. Tennessee Valley Asset Management Partners bought a new position in Chubb during the 4th quarter worth approximately $32,000. Northwest Financial Advisors bought a new position in Chubb during the 4th quarter worth approximately $33,000. Finally, Naples Money Management LLC bought a new position in Chubb during the 4th quarter worth approximately $34,000. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

CB has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. 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. UBS Group raised their price target on Chubb from $245.00 to $256.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. HSBC reissued a “hold” rating and set a $270.00 price target (down from $275.00) on shares of Chubb in a research note on Thursday, April 4th. Finally, StockNews.com lowered Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $266.74.

Chubb Trading Up 1.1 %

CB traded up $2.92 during trading hours on Wednesday, reaching $267.92. The company’s stock had a trading volume of 415,486 shares, compared to its average volume of 1,731,176. Chubb Limited has a fifty-two week low of $183.71 and a fifty-two week high of $275.41. The stock has a market cap of $108.79 billion, a PE ratio of 11.76, a P/E/G ratio of 1.25 and a beta of 0.63. The business’s 50-day moving average is $253.35 and its 200-day moving average is $240.92. 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 (NYSE:CB) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same period in the prior year, the firm earned $4.41 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts predict that Chubb Limited will post 21.21 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.91 per share. This is a positive change from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, June 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.36%. Chubb’s dividend payout ratio (DPR) is presently 15.27%.

Insiders Place Their Bets

In related news, CAO Annmarie T. Hagan sold 1,529 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the completion of the sale, the chief accounting officer now owns 7,718 shares in the company, valued at $2,036,085.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider John J. Lupica sold 34,464 shares of Chubb stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the completion of the sale, the insider now directly owns 130,937 shares in the company, valued at approximately $33,902,208.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Annmarie T. Hagan sold 1,529 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $263.81, for a total transaction of $403,365.49. Following the transaction, the chief accounting officer now directly owns 7,718 shares of the company’s stock, valued at $2,036,085.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,815 shares of company stock valued at $37,349,247. 0.86% of the stock is currently owned by 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.