Gratus Wealth Advisors LLC Boosts Stake in Chubb Limited $CB

Gratus Wealth Advisors LLC raised its stake in shares of Chubb Limited (NYSE:CB) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,503 shares of the financial services provider’s stock after acquiring an additional 99 shares during the quarter. Gratus Wealth Advisors LLC’s holdings in Chubb were worth $1,015,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CB. Valeo Financial Advisors LLC boosted its position in Chubb by 30.6% during the second quarter. Valeo Financial Advisors LLC now owns 6,149 shares of the financial services provider’s stock valued at $1,782,000 after purchasing an additional 1,440 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in Chubb by 1.7% in the second quarter. DAVENPORT & Co LLC now owns 15,985 shares of the financial services provider’s stock worth $4,631,000 after purchasing an additional 271 shares in the last quarter. Woodmont Investment Counsel LLC lifted its position in shares of Chubb by 3.0% during the second quarter. Woodmont Investment Counsel LLC now owns 37,555 shares of the financial services provider’s stock valued at $10,880,000 after buying an additional 1,098 shares during the last quarter. Global Assets Advisory LLC bought a new stake in shares of Chubb in the 2nd quarter valued at about $255,000. Finally, Grimes & Company Inc. grew its position in shares of Chubb by 12.8% in the 2nd quarter. Grimes & Company Inc. now owns 2,185 shares of the financial services provider’s stock worth $633,000 after buying an additional 248 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Evercore ISI increased their target price on shares of Chubb from $312.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Wolfe Research raised Chubb to a “strong-buy” rating in a research report on Tuesday, September 16th. Wells Fargo & Company decreased their price objective on Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a report on Thursday, July 24th. Morgan Stanley dropped their target price on Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $283.00 target price (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, six have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $303.24.

Insider Buying and Selling

In other Chubb news, Director Michael Corbat acquired 425 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the acquisition, the director directly owned 2,450 shares of the company’s stock, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of CB opened at $283.99 on Monday. 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 moving average of $274.76 and a two-hundred day moving average of $282.06. The stock has a market cap of $113.22 billion, a P/E ratio of 12.53, a P/E/G ratio of 3.20 and a beta of 0.54. Chubb Limited has a one year low of $252.16 and a one year 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. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period last year, the business posted $5.38 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

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

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.