Chubb Limited $CB Stock Position Decreased by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS lessened its holdings in shares of Chubb Limited (NYSE:CB) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,734 shares of the financial services provider’s stock after selling 404 shares during the period. Chubb accounts for approximately 1.3% of Legacy Wealth Management LLC MS’s holdings, making the stock its 16th biggest position. Legacy Wealth Management LLC MS’s holdings in Chubb were worth $4,269,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CB. GQG Partners LLC grew its position in Chubb by 112.1% in the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after purchasing an additional 4,964,298 shares during the last quarter. GAMMA Investing LLC grew its position in Chubb by 36,831.3% in the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider’s stock worth $629,357,000 after purchasing an additional 2,078,390 shares during the last quarter. Nuveen LLC bought a new position in Chubb in the 1st quarter worth about $562,221,000. Royal Bank of Canada grew its position in Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider’s stock worth $1,217,392,000 after purchasing an additional 1,403,545 shares during the last quarter. Finally, Demars Financial Group LLC grew its position in Chubb by 16.4% in the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock worth $1,884,004,000 after purchasing an additional 878,177 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Down 1.7%

CB stock opened at $278.02 on Friday. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The firm has a market cap of $110.84 billion, a PE ratio of 12.26, a P/E/G ratio of 3.19 and a beta of 0.56. The firm has a 50 day simple moving average of $274.38 and a 200 day simple moving average of $283.34. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period in the prior year, the business earned $5.38 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb’s dividend payout ratio is currently 17.12%.

Wall Street Analysts Forecast Growth

CB has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Evercore ISI set a $312.00 target price on shares of Chubb in a research report on Wednesday, July 23rd. Piper Sandler reaffirmed a “neutral” rating and issued a $283.00 price target (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Wells Fargo & Company reduced their price target on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a research note on Thursday, July 24th. Finally, UBS Group reduced their price target on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $302.00.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 5,513 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares of the company’s stock, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Corbat bought 425 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director owned 2,450 shares of the company’s stock, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.77% of the stock is owned by corporate insiders.

Chubb Company Profile

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.