Chubb Limited $CB Position Reduced by Asset Advisors Investment Management LLC

Asset Advisors Investment Management LLC trimmed its stake in shares of Chubb Limited (NYSE:CB) by 0.6% during the second quarter, HoldingsChannel reports. The fund owned 62,880 shares of the financial services provider’s stock after selling 401 shares during the quarter. Chubb comprises approximately 1.8% of Asset Advisors Investment Management LLC’s holdings, making the stock its 16th largest position. Asset Advisors Investment Management LLC’s holdings in Chubb were worth $18,218,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Modern Wealth Management LLC lifted its position in shares of Chubb by 6.2% in the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock worth $744,000 after buying an additional 143 shares during the last quarter. Jump Financial LLC lifted its position in shares of Chubb by 633.6% in the 1st quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider’s stock worth $2,470,000 after buying an additional 7,065 shares during the last quarter. Legato Capital Management LLC lifted its position in shares of Chubb by 120.9% in the 1st quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider’s stock worth $3,080,000 after buying an additional 5,582 shares during the last quarter. Davis Rea LTD. bought a new stake in Chubb in the 1st quarter valued at about $5,117,000. Finally, First Horizon Advisors Inc. boosted its stake in Chubb by 3.3% during the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider’s stock valued at $13,070,000 after purchasing an additional 1,375 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Performance

Shares of CB opened at $281.73 on Friday. The firm’s 50 day moving average is $274.46 and its 200-day moving average is $282.32. The stock has a market capitalization of $112.32 billion, a P/E ratio of 12.43, a P/E/G ratio of 3.18 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.30. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.38 EPS. Equities research analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb’s dividend payout ratio (DPR) is currently 17.12%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CB. Evercore ISI boosted their target price on shares of Chubb from $312.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. UBS Group reduced their target price on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. Morgan Stanley dropped their price target on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Finally, Piper Sandler restated a “neutral” rating and set a $283.00 price target (down from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $303.24.

Insider Activity at Chubb

In related news, Director Michael Corbat purchased 425 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the acquisition, the director owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Chubb Company 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.