Savvy Advisors Inc. Increases Stock Holdings in Chubb Limited $CB

Savvy Advisors Inc. lifted its stake in shares of Chubb Limited (NYSE:CB) by 28.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,380 shares of the financial services provider’s stock after buying an additional 306 shares during the period. Savvy Advisors Inc.’s holdings in Chubb were worth $400,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CB. GQG Partners LLC lifted its holdings 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 acquiring an additional 4,964,298 shares during the period. Nuveen LLC purchased a new stake in shares of Chubb during the 1st quarter valued at $562,221,000. Ameriprise Financial Inc. increased its position in shares of Chubb by 6.9% during 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 purchasing an additional 304,751 shares during the last quarter. Citigroup Inc. increased its position in shares of Chubb by 79.0% during the 1st quarter. Citigroup Inc. now owns 631,628 shares of the financial services provider’s stock valued at $190,745,000 after purchasing an additional 278,697 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Chubb by 19.6% during the 1st quarter. AQR Capital Management LLC now owns 1,410,449 shares of the financial services provider’s stock valued at $423,826,000 after purchasing an additional 231,404 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

NYSE:CB opened at $277.13 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.27. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The firm has a market cap of $109.07 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.74 and a beta of 0.54. The business’s fifty day moving average is $277.80 and its 200 day moving average is $280.64.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company had revenue of $14.87 billion for the quarter, compared to analyst estimates of $12.95 billion. During the same period in the previous year, the company posted $5.72 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. Research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

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 dividend yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb’s payout ratio is presently 16.19%.

Insider Activity

In related news, insider John J. Lupica sold 23,698 shares of the business’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $281.00, for a total transaction of $6,659,138.00. Following the sale, the insider directly owned 90,600 shares in the company, valued at approximately $25,458,600. The trade was a 20.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CB. Wolfe Research raised their target price on Chubb from $320.00 to $336.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Citigroup raised their target price on Chubb from $326.00 to $331.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Piper Sandler restated a “neutral” rating and issued a $283.00 target price (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of Chubb in a research note on Wednesday, October 8th. Finally, Barclays boosted their target price on Chubb from $298.00 to $310.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Chubb presently has an average rating of “Hold” and a consensus price target of $307.79.

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.