Cerro Pacific Wealth Advisors LLC Has $595,000 Stock Position in Chubb Limited $CB

Cerro Pacific Wealth Advisors LLC cut its stake in Chubb Limited (NYSE:CB) by 11.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,054 shares of the financial services provider’s stock after selling 278 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Chubb were worth $595,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. E Fund Management Co. Ltd. raised its holdings in shares of Chubb by 3.9% in the 1st quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider’s stock worth $291,000 after buying an additional 36 shares in the last quarter. Rise Advisors LLC raised its holdings in shares of Chubb by 4.6% in the 1st quarter. Rise Advisors LLC now owns 841 shares of the financial services provider’s stock worth $254,000 after buying an additional 37 shares in the last quarter. Avantax Planning Partners Inc. raised its holdings in shares of Chubb by 5.1% in the 1st quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider’s stock worth $236,000 after buying an additional 38 shares in the last quarter. Sky Investment Group LLC raised its holdings in shares of Chubb by 1.6% in the 2nd quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider’s stock worth $694,000 after buying an additional 38 shares in the last quarter. Finally, Lincoln Capital LLC raised its holdings in shares of Chubb by 0.6% in the 1st quarter. Lincoln Capital LLC now owns 6,962 shares of the financial services provider’s stock worth $2,022,000 after buying an additional 39 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Michael Corbat acquired 425 shares of the firm’s stock in a transaction on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director owned 2,450 shares of the company’s stock, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.77% of the company’s stock.

Chubb Stock Down 0.4%

Shares of CB opened at $283.08 on Friday. The firm has a market capitalization of $112.86 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 3.18 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The business’s fifty day moving average price is $276.67 and its two-hundred day moving average price is $281.92. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91.

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

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb’s dividend payout ratio (DPR) is presently 17.12%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CB shares. Citigroup began coverage on Chubb in a report on Wednesday, August 13th. They issued a “buy” rating and a $326.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of Chubb in a research report on Wednesday. The Goldman Sachs Group increased their price target on Chubb from $299.00 to $303.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Evercore ISI increased their price target on Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Finally, HSBC lowered Chubb from a “buy” rating to a “hold” rating and decreased their price target for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Chubb currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.82.

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.