Beacon Investment Advisory Services Inc. Sells 1,504 Shares of Chubb Limited $CB

Beacon Investment Advisory Services Inc. trimmed its position in shares of Chubb Limited (NYSE:CB) by 4.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 31,756 shares of the financial services provider’s stock after selling 1,504 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Chubb were worth $10,821,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Chubb by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after buying an additional 221 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in Chubb in the 4th quarter worth approximately $205,000. Woodline Partners LP raised its holdings in Chubb by 13.0% in the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock worth $3,805,000 after acquiring an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Chubb by 14.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 175 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Chubb by 9.3% during the 2nd quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock valued at $58,305,000 after purchasing an additional 17,155 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Chubb Price Performance

Shares of CB opened at $350.17 on Friday. The firm has a fifty day simple moving average of $341.33 and a two-hundred day simple moving average of $330.43. The firm has a market cap of $135.10 billion, a PE ratio of 12.39, a P/E/G ratio of 1.75 and a beta of 0.39. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91.

Chubb (NYSE:CB) last released 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 return on equity of 14.47% and a net margin of 18.10%.The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same period last year, the business posted $6.14 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities analysts anticipate that Chubb Limited will post 27.45 EPS for the current year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were given a $1.02 dividend. The ex-dividend date of this dividend was Friday, June 12th. This is a positive change from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s payout ratio is 14.43%.

Insider Activity

In other news, COO John W. Keogh sold 23,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was 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 directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on CB shares. Wells Fargo & Company reduced their target price on Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. The Goldman Sachs Group increased their price objective on Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Barclays set a $387.00 price objective on Chubb in a report on Tuesday, July 7th. Piper Sandler boosted their target price on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Two research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $360.09.

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.