Verus Capital Partners LLC Buys Shares of 4,118 Chubb Limited $CB

Verus Capital Partners LLC purchased a new position in shares of Chubb Limited (NYSE:CB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,118 shares of the financial services provider’s stock, valued at approximately $1,342,000.

A number of other institutional investors also recently made changes to their positions in CB. CBIZ Investment Advisory Services LLC increased its position in 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 in the last quarter. Frazier Financial Advisors LLC lifted its holdings in Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 38 shares in the last quarter. Merkkuri Wealth Advisors LLC acquired a new stake in shares of Chubb during the 1st quarter worth about $29,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Chubb during the 4th quarter worth about $31,000. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Chubb during the 4th quarter worth about $32,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CB. Piper Sandler boosted their price objective on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Barclays set a $387.00 target price on shares of Chubb in a research report on Tuesday, July 7th. Jefferies Financial Group lowered their target price on shares of Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. HSBC downgraded Chubb from a “buy” rating to a “hold” rating and boosted their price target for the company from $370.00 to $373.00 in a report on Monday, July 6th. Finally, Wolfe Research increased their price target on Chubb from $372.00 to $373.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chubb has an average rating of “Hold” and a consensus price target of $360.09.

Chubb Trading Up 0.3%

Shares of CB stock opened at $351.08 on Friday. The firm’s 50-day simple moving average is $338.33 and its 200-day simple moving average is $328.73. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $365.91. The firm has a market cap of $135.45 billion, a P/E ratio of 12.42, a PEG ratio of 1.74 and a beta of 0.40.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same period in the previous year, the firm earned $6.14 earnings per share. Chubb’s revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Chubb Limited will post 27.4 EPS for the current year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were issued a $1.02 dividend. This is a boost from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio (DPR) is 14.43%.

Insider Buying and Selling at Chubb

In other news, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction 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 sale, the executive vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by insiders.

About Chubb

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.