Evolve Private Wealth LLC Purchases New Holdings in Chubb Limited $CB

Evolve Private Wealth LLC purchased a new position in Chubb Limited (NYSE:CB) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,910 shares of the financial services provider’s stock, valued at approximately $2,703,000.

A number of other institutional investors and hedge funds have also modified their holdings of CB. Cherry Tree Wealth Management LLC boosted its stake in Chubb by 38.3% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 31 shares during the period. Phillips Wealth Planners LLC grew its stake in shares of Chubb by 1.8% in the fourth quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider’s stock worth $521,000 after acquiring an additional 31 shares during the last quarter. Hoxton Planning & Management LLC increased its position in Chubb by 4.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 31 shares during the period. South Plains Financial Inc. raised its stake in Chubb by 2.2% during the 4th quarter. South Plains Financial Inc. now owns 1,601 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 34 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. grew its position in Chubb by 0.8% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 4,105 shares of the financial services provider’s stock worth $1,338,000 after purchasing an additional 34 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Price Performance

Shares of CB stock opened at $341.15 on Friday. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91. The stock’s fifty day moving average is $345.88 and its 200-day moving average is $333.31. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $131.62 billion, a PE ratio of 12.07, a PEG ratio of 1.65 and a beta of 0.39.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $6.14 earnings per share. Equities research analysts expect that Chubb Limited will post 27.49 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. Chubb’s payout ratio is currently 14.43%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Weiss Ratings raised Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Piper Sandler upped their target price on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Evercore reiterated an “outperform” rating and set a $374.00 price target on shares of Chubb in a research note on Friday, July 10th. Morgan Stanley boosted their price target on shares of Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and lifted their target price for the company from $370.00 to $373.00 in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chubb has an average rating of “Hold” and a consensus target price of $361.00.

Insider Buying and Selling

In related news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction that occurred 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 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 at this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.