PCM Encore LLC Invests $727,000 in Chubb Limited $CB

PCM Encore LLC bought a new stake in Chubb Limited (NYSE:CB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,133 shares of the financial services provider’s stock, valued at approximately $727,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CB. IMG Wealth Management Inc. purchased a new stake in Chubb in the 2nd quarter valued at approximately $25,000. Dunhill Financial LLC purchased a new position in shares of Chubb during the 2nd quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC raised its stake in shares of 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 buying an additional 49 shares in 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 valued at $27,000 after buying an additional 38 shares during the period. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in shares of Chubb in the 1st quarter valued at approximately $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CB. Wells Fargo & Company lowered their price target on shares of Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 23rd. Jefferies Financial Group reduced their price objective 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. Keefe, Bruyette & Woods boosted their price objective on shares of Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Atlantic Securities set a $301.00 target price on shares of Chubb in a research report on Wednesday, July 15th. Finally, Piper Sandler increased their target price on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $361.00.

Chubb Stock Up 0.6%

Chubb stock opened at $342.98 on Friday. 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 firm has a market capitalization of $132.32 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.68 and a beta of 0.39. 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 is $345.61 and its two-hundred day moving average is $333.25.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The business had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $6.14 earnings per share. Analysts predict that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s dividend payout ratio is presently 14.43%.

Insider Activity

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction dated 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 directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. This trade represents 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, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Company 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.