Verdence Capital Advisors LLC grew its stake in Chubb Limited (NYSE:CB – Free Report) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,147 shares of the financial services provider’s stock after acquiring an additional 1,662 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Chubb were worth $10,183,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. GQG Partners LLC lifted its position in Chubb by 112.1% during the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after buying an additional 4,964,298 shares during the period. Demars Financial Group LLC raised its holdings in shares of 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 worth $1,884,004,000 after purchasing an additional 878,177 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Chubb by 6.9% in the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after purchasing an additional 304,751 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of 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 worth $840,756,000 after purchasing an additional 30,334 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Chubb in the 1st quarter worth about $562,221,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently commented on the company. Citigroup assumed coverage on Chubb in a report on Wednesday, August 13th. They issued a “buy” rating and a $326.00 price objective on the stock. Wolfe Research upgraded Chubb to a “strong-buy” rating in a report on Tuesday, September 16th. 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 report on Monday, August 18th. HSBC downgraded Chubb from a “buy” rating to a “hold” rating and dropped their target price for the company from $317.00 to $300.00 in a report on Friday, August 1st. Finally, Hsbc Global Res downgraded Chubb from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Chubb currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.82.
Chubb Price Performance
CB stock opened at $283.08 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The stock’s 50 day moving average is $276.67 and its two-hundred day moving average is $281.80. The company has a market capitalization of $112.86 billion, a PE ratio of 12.49, a P/E/G ratio of 3.18 and a beta of 0.54.
Chubb (NYSE:CB – Get Free Report) last posted 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 company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the previous year, the business earned $5.38 EPS. Chubb’s revenue for the quarter was up 6.3% compared to the same quarter last year. 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 paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb’s dividend payout ratio is presently 17.12%.
Insider Buying and Selling
In related news, Director Michael Corbat acquired 425 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the purchase, the director directly owned 2,450 shares in the company, valued at $661,010. This represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 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.
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