Pallas Capital Advisors LLC acquired a new position in shares of Chubb Limited (NYSE:CB – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,566 shares of the financial services provider’s stock, valued at approximately $4,282,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC raised its stake in Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the last quarter. Frazier Financial Advisors LLC raised its position in shares of Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after buying an additional 38 shares during the last quarter. Merkkuri Wealth Advisors LLC acquired a new position in shares of Chubb during the first quarter valued at about $29,000. Laurel Wealth Advisors LLC bought a new stake in shares of Chubb in the fourth quarter valued at about $31,000. Finally, Kelleher Financial Advisors bought a new stake in shares of Chubb in the second quarter valued at about $34,000. Institutional investors and hedge funds own 83.81% of the company’s stock.
Insider Buying and Selling at Chubb
In related news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.37% of the company’s stock.
Chubb Price Performance
Chubb (NYSE:CB – Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. Chubb’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.14 earnings per share. On average, equities analysts predict that Chubb Limited will post 27.45 earnings per share for the current fiscal year.
Chubb Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s dividend payout ratio (DPR) is currently 14.43%.
Analysts Set New Price Targets
CB has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. UBS Group lifted their price target on shares of Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Mizuho boosted their price target on shares of Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Jefferies Financial Group dropped their price objective on shares of Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. Finally, Cantor Fitzgerald raised their price objective on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $360.09.
Read Our Latest Analysis on Chubb
About Chubb
Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.
In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.
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