HB Wealth Management LLC Sells 1,562 Shares of Chubb Limited $CB

HB Wealth Management LLC cut its stake in shares of Chubb Limited (NYSE:CB) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,887 shares of the financial services provider’s stock after selling 1,562 shares during the period. HB Wealth Management LLC’s holdings in Chubb were worth $15,636,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its holdings in Chubb by 1.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock valued at $102,959,000 after purchasing an additional 5,225 shares during the period. Equitable Holdings Inc. bought a new position in shares of Chubb during the second quarter worth approximately $4,139,000. XXEC Inc. bought a new position in shares of Chubb during the second quarter worth approximately $26,210,000. Berkshire Hathaway Inc acquired a new stake in shares of Chubb in the second quarter valued at approximately $11,670,067,000. Finally, Glenview Trust Co acquired a new stake in shares of Chubb in the second quarter valued at approximately $11,147,000. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CB. Keefe, Bruyette & Woods increased their price target on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Atlantic Securities set a $301.00 price objective on Chubb in a report on Wednesday, July 15th. Piper Sandler upped their target price on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Evercore reissued an “outperform” rating and set a $374.00 target price on shares of Chubb in a report on Friday, July 10th. Finally, Barclays set a $387.00 price target on Chubb in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $361.00.

Chubb Trading Down 2.0%

Shares of CB stock opened at $341.16 on Friday. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The stock’s fifty day moving average price is $348.27 and its two-hundred day moving average price is $334.45. 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 company has a market cap of $131.62 billion, a PE ratio of 12.07, a P/E/G ratio of 1.63 and a beta of 0.37.

Chubb (NYSE:CB) last announced its quarterly earnings data 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. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same period in the prior year, the company earned $6.14 EPS. Chubb’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts predict that Chubb Limited will post 27.35 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors 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 yield of 1.2%. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Insider Activity at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the business’s 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Connors sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the transaction, the director owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by company insiders.

Chubb Company 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.