Gabelli Funds LLC Increases Position in Chubb Limited $CB

Gabelli Funds LLC boosted its position in Chubb Limited (NYSE:CB) by 60.9% during the first quarter, Holdings Channel reports. The fund owned 19,215 shares of the financial services provider’s stock after acquiring an additional 7,271 shares during the period. Gabelli Funds LLC’s holdings in Chubb were worth $6,263,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC grew its position in Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 49 shares during the last quarter. Frazier Financial Advisors LLC lifted its holdings in shares of Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. Merkkuri Wealth Advisors LLC bought a new stake in shares of Chubb in the 1st quarter worth approximately $29,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Chubb in the 4th quarter valued at $31,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Chubb in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Mizuho upped their price target on shares of Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Evercore reaffirmed an “outperform” rating and set a $374.00 price objective on shares of Chubb in a research note on Friday, July 10th. Barclays set a $387.00 price objective on Chubb in a report on Tuesday, July 7th. Finally, The Goldman Sachs Group boosted their target price on Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $360.09.

Chubb Trading Down 0.2%

NYSE:CB opened at $359.00 on Tuesday. The firm has a market capitalization of $139.24 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.80 and a beta of 0.40. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average of $336.13 and a 200 day moving average of $327.52. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $365.29.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping 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 business had revenue of $16.01 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same quarter last year, the firm earned $6.14 EPS. The company’s revenue was up 3.6% on a year-over-year basis. On average, research analysts predict that Chubb Limited will post 27.15 earnings per share for the current year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were issued a dividend of $1.02 per share. This is an increase from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, June 12th. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Insider Activity

In related news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction dated 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 directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.