Firethorn Wealth Partners LLC Grows Stock Position in Chubb Limited $CB

Firethorn Wealth Partners LLC raised its holdings in Chubb Limited (NYSE:CB) by 19.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,782 shares of the financial services provider’s stock after acquiring an additional 289 shares during the quarter. Firethorn Wealth Partners LLC’s holdings in Chubb were worth $516,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. GQG Partners LLC grew its position in Chubb by 112.1% in the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock valued at $2,836,899,000 after acquiring an additional 4,964,298 shares during the last quarter. Demars Financial Group LLC grew its position in Chubb by 16.4% in the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock valued at $1,884,004,000 after acquiring an additional 878,177 shares during the last quarter. Ameriprise Financial Inc. grew its position in Chubb by 6.9% in the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock valued at $1,418,398,000 after acquiring an additional 304,751 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Chubb by 1.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider’s stock valued at $840,756,000 after acquiring an additional 30,334 shares during the last quarter. Finally, Nuveen LLC bought a new position in Chubb in the 1st quarter valued at $562,221,000. Institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of CB stock opened at $283.99 on Friday. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The stock’s 50-day moving average is $274.76 and its 200 day moving average is $282.15. The company has a market cap of $113.22 billion, a P/E ratio of 12.53, a PEG ratio of 3.20 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 (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter last year, the company earned $5.38 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb’s dividend payout ratio (DPR) is presently 17.12%.

Insiders Place Their Bets

In related news, Director Michael Corbat acquired 425 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.77% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wells Fargo & Company cut their price objective on Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 24th. HSBC downgraded Chubb from a “buy” rating to a “hold” rating and dropped their price target for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. Evercore ISI increased their price target on Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler reissued a “neutral” rating and set a $283.00 price target (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Finally, Cantor Fitzgerald raised Chubb to a “hold” rating in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $303.24.

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.