L2 Asset Management LLC acquired a new stake in shares of Chubb Limited (NYSE:CB – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,046 shares of the financial services provider’s stock, valued at approximately $697,000.
Other large investors have also bought and sold shares of the company. Cetera Trust Company N.A purchased a new stake in Chubb in the second quarter worth $699,000. Aberdeen Wealth Management LLC bought a new position in shares of Chubb during the 2nd quarter worth $33,000. Visionary Wealth Advisors bought a new position in shares of Chubb during the 2nd quarter worth $401,000. Cullen Capital Management LLC purchased a new stake in Chubb in the 2nd quarter worth about $229,895,000. Finally, Flavin Financial Services Inc. purchased a new stake in Chubb in the 2nd quarter worth about $456,000. 83.81% of the stock is owned by hedge funds and other institutional investors.
Chubb Price Performance
Shares of NYSE CB opened at $345.63 on Tuesday. The stock’s 50-day simple moving average is $346.25 and its two-hundred day simple moving average is $333.69. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. The firm has a market capitalization of $133.34 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.65 and a beta of 0.39. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22.
Chubb Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be given a $1.02 dividend. The ex-dividend date is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s payout ratio is presently 14.43%.
Analyst Ratings Changes
CB has been the topic of several recent research reports. Barclays set a $387.00 price objective on shares of Chubb in a report on Tuesday, July 7th. The Goldman Sachs Group upped their price target on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Morgan Stanley raised their price objective on shares of Chubb from $340.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th. Piper Sandler lifted their price objective on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $354.00 target price on shares of Chubb in a report on Wednesday, July 22nd. Two 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $361.00.
Check Out Our Latest Stock Report on Chubb
Insider Buying and Selling
In other Chubb news, COO John W. Keogh sold 23,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This represents a 10.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company’s stock.
Chubb Company Profile
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.
Read More
- Five stocks we like better than Chubb
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB – Free Report).
Receive News & Ratings for Chubb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chubb and related companies with MarketBeat.com's FREE daily email newsletter.
