Corient Private Wealth LP acquired a new stake in Chubb Limited (NYSE:CB – Free Report) in the second quarter, HoldingsChannel reports. The firm acquired 670,755 shares of the financial services provider’s stock, valued at approximately $228,554,000.
A number of other institutional investors have also modified their holdings of CB. IMG Wealth Management Inc. purchased a new stake in Chubb in the 2nd quarter worth approximately $25,000. Dunhill Financial LLC purchased a new position in shares of Chubb during the 2nd quarter worth $25,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 49 shares during the period. Frazier Financial Advisors LLC lifted its stake in shares of Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 38 shares during the period. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in shares of Chubb during the first quarter worth $29,000. Institutional investors and hedge funds own 83.81% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently commented on CB shares. Weiss Ratings raised Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $354.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. raised their price target on Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods lifted their price target on Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Finally, HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and upped their price objective for the company from $370.00 to $373.00 in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $361.00.
Chubb Stock Up 0.3%
Shares of NYSE CB opened at $344.08 on Thursday. Chubb Limited has a 52-week low of $265.30 and a 52-week high of $365.91. The firm has a fifty day moving average of $346.84 and a 200-day moving average of $333.88. The stock has a market capitalization of $132.75 billion, a PE ratio of 12.17, a P/E/G ratio of 1.66 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 (NYSE:CB – Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.49. The business had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company posted $6.14 EPS. On average, analysts anticipate that Chubb Limited will post 27.49 EPS for the current year.
Chubb Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio is currently 14.43%.
Insider Activity
In other news, Director Michael P. Connors sold 5,500 shares of Chubb stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the transaction, the director directly owned 12,803 shares of the company’s stock, valued at $4,417,035. The trade was a 30.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company’s stock.
Chubb 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.
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