Everett Harris & Co. CA Acquires New Holdings in Chubb Limited $CB

Everett Harris & Co. CA bought a new position in shares of Chubb Limited (NYSE:CB) during the second quarter, Holdings Channel reports. The fund bought 2,412 shares of the financial services provider’s stock, valued at approximately $822,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. CBIZ Investment Advisory Services LLC boosted its holdings in Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the period. Frazier Financial Advisors LLC increased its holdings in shares of Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 38 shares during the period. Merkkuri Wealth Advisors LLC bought a new position in shares of Chubb in the first quarter worth $29,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Chubb in the fourth quarter worth $31,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Chubb in the fourth quarter worth $32,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Morgan Stanley upped their target price on Chubb from $330.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $400.00 price target on shares of Chubb in a report on Wednesday, July 22nd. Jefferies Financial Group dropped their price target on Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a research report on Thursday, April 23rd. Finally, Piper Sandler boosted their price objective on Chubb from $340.00 to $374.00 and gave the stock 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 given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $360.09.

Insider Transactions at Chubb

In related news, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction dated 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 directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents 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 currently owned by corporate insiders.

Chubb Stock Performance

NYSE CB opened at $343.80 on Friday. Chubb Limited has a 52-week low of $265.30 and a 52-week high of $365.91. 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 capitalization of $132.64 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.70 and a beta of 0.39. The company has a fifty day moving average of $344.31 and a 200-day moving average of $331.99.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $6.14 earnings per share. As a group, equities research analysts predict that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s payout ratio is 14.43%.

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.