Orca Wealth Management LLC Has $3.38 Million Stock Holdings in Chubb Limited $CB

Orca Wealth Management LLC reduced its position in shares of Chubb Limited (NYSE:CB) by 0.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,678 shares of the financial services provider’s stock after selling 58 shares during the quarter. Chubb comprises 2.8% of Orca Wealth Management LLC’s holdings, making the stock its 10th biggest position. Orca Wealth Management LLC’s holdings in Chubb were worth $3,383,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Modern Wealth Management LLC raised its holdings in Chubb by 6.2% during the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock worth $744,000 after purchasing an additional 143 shares during the last quarter. Jump Financial LLC grew its position in shares of Chubb by 633.6% during 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 period. Legato Capital Management LLC grew its position in shares of Chubb by 120.9% during 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 period. Davis Rea LTD. acquired a new position in shares of Chubb during the 1st quarter worth about $5,117,000. Finally, First Horizon Advisors Inc. grew its position in shares of Chubb by 3.3% during the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider’s stock worth $13,070,000 after buying an additional 1,375 shares during the period. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CB shares. Evercore ISI boosted their target price on Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday. Hsbc Global Res lowered Chubb from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Wells Fargo & Company decreased their target price on Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a research report on Thursday, July 24th. Morgan Stanley decreased their target price on Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Finally, Cantor Fitzgerald upgraded Chubb to a “hold” rating in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Chubb currently has an average rating of “Hold” and an average target price of $303.24.

Chubb Price Performance

Shares of CB opened at $283.99 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a 50 day simple moving average of $274.76 and a 200 day simple moving average of $282.15. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The firm has a market capitalization of $113.22 billion, a PE ratio of 12.53, a P/E/G ratio of 3.20 and a beta of 0.54.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the firm earned $5.38 EPS. Chubb’s quarterly revenue was up 6.3% compared to the same quarter last year. Sell-side analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were paid a $0.97 dividend. The ex-dividend date was Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb’s payout ratio is presently 17.12%.

Insider Buying and Selling

In other news, Director Michael Corbat bought 425 shares of the business’s stock in a transaction on Friday, July 25th. The shares were purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the purchase, the director owned 2,450 shares of the company’s stock, valued at approximately $661,010. The trade was a 20.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.77% of the company’s stock.

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.