PBMares Wealth Management LLC Purchases 95 Shares of Chubb Limited $CB

PBMares Wealth Management LLC lifted its position in Chubb Limited (NYSE:CB) by 12.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 833 shares of the financial services provider’s stock after purchasing an additional 95 shares during the quarter. PBMares Wealth Management LLC’s holdings in Chubb were worth $241,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in shares of Chubb in the first quarter worth $25,000. North Capital Inc. bought a new position in shares of Chubb in the first quarter worth $26,000. IMA Advisory Services Inc. bought a new position in shares of Chubb in the first quarter worth $31,000. 1248 Management LLC bought a new position in shares of Chubb in the first quarter worth $31,000. Finally, WPG Advisers LLC bought a new position in shares of Chubb in the first quarter worth $33,000. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 0.9%

Shares of NYSE:CB opened at $282.15 on Wednesday. The stock’s 50-day moving average price is $274.00 and its 200-day moving average price is $282.44. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The stock has a market capitalization of $112.49 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 3.16 and a beta of 0.56. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same period last year, the firm earned $5.38 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be issued 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 is Friday, September 12th. Chubb’s dividend payout ratio is currently 17.12%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CB. Evercore ISI set a $312.00 price target on shares of Chubb in a report on Wednesday, July 23rd. Wells Fargo & Company reduced their target price on Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 24th. Cantor Fitzgerald raised Chubb to a “hold” rating in a research note on Wednesday, August 13th. Barclays cut Chubb from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $321.00 to $298.00 in a research note on Monday, July 7th. Finally, HSBC cut Chubb from a “buy” rating to a “hold” rating and reduced their target price for the company from $317.00 to $300.00 in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chubb has an average rating of “Hold” and a consensus price target of $303.06.

Insider Buying and Selling at Chubb

In other news, Director Michael Corbat bought 425 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the acquisition, the director owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.86% of the company’s stock.

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.