Wealth Effects LLC Acquires 40 Shares of Chubb Limited (NYSE:CB)

Wealth Effects LLC boosted its holdings in Chubb Limited (NYSE:CB) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,370 shares of the financial services provider’s stock after acquiring an additional 40 shares during the quarter. Wealth Effects LLC’s holdings in Chubb were worth $395,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital Research Global Investors lifted its position in shares of Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after purchasing an additional 2,064,730 shares in the last quarter. Capital World Investors lifted its position in shares of Chubb by 6.6% during the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after buying an additional 685,677 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after buying an additional 457,881 shares during the last quarter. Troy Asset Management Ltd bought a new position in shares of Chubb in the second quarter valued at approximately $106,975,000. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new stake in shares of Chubb during the second quarter valued at approximately $93,411,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Price Performance

Shares of Chubb stock traded down $3.45 during trading on Monday, hitting $298.21. The stock had a trading volume of 367,618 shares, compared to its average volume of 1,612,525. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12 month low of $205.64 and a 12 month high of $302.05. The firm has a market cap of $121.09 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 5.87 and a beta of 0.66. The business’s 50-day moving average is $284.79 and its 200 day moving average is $268.09.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business had revenue of $13.36 billion for the quarter, compared to analyst estimates of $13.04 billion. During the same period in the prior year, the company earned $4.92 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chubb Limited will post 21.32 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were paid a $0.91 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.22%. Chubb’s dividend payout ratio is presently 16.16%.

Insider Transactions at Chubb

In related news, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the transaction, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the sale, the executive vice president now owns 44,632 shares in the company, valued at $12,187,213.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the sale, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,636 shares of company stock valued at $24,874,208 in the last quarter. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CB shares. JMP Securities reissued a “market outperform” rating and issued a $300.00 price objective on shares of Chubb in a research report on Tuesday, October 15th. Morgan Stanley decreased their price objective on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Bank of America boosted their target price on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Piper Sandler raised their price target on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Finally, Keefe, Bruyette & Woods increased their price objective on Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $282.37.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.