Armstrong Advisory Group Inc. Boosts Stake in Chubb Limited $CB

Armstrong Advisory Group Inc. lifted its position in shares of Chubb Limited (NYSE:CB) by 61.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 331 shares of the financial services provider’s stock after purchasing an additional 126 shares during the period. Armstrong Advisory Group Inc.’s holdings in Chubb were worth $96,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. GQG Partners LLC boosted its stake in shares of Chubb by 112.1% during 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 acquiring an additional 4,964,298 shares in the last quarter. Demars Financial Group LLC boosted its stake in shares of Chubb by 16.4% during 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 acquiring an additional 878,177 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Chubb by 6.9% during the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after acquiring an additional 304,751 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Chubb by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider’s stock worth $840,756,000 after acquiring an additional 30,334 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Chubb by 36,831.3% during the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider’s stock worth $629,357,000 after acquiring an additional 2,078,390 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CB has been the topic of several recent analyst reports. Morgan Stanley lowered their target price on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. 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. Keefe, Bruyette & Woods raised their price target on shares of Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and decreased their price target for the company from $317.00 to $300.00 in a research note on Friday, August 1st. Finally, Citigroup assumed coverage on shares of Chubb in a research note on Wednesday, August 13th. They issued a “buy” rating and a $326.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $303.06.

Chubb Stock Down 0.3%

CB stock opened at $272.99 on Tuesday. The company has a market cap of $108.84 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 3.09 and a beta of 0.56. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The firm has a 50-day moving average of $273.62 and a two-hundred day moving average of $282.86.

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

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be issued a $0.97 dividend. The ex-dividend date is Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb’s dividend payout ratio is presently 17.12%.

Insider Transactions at Chubb

In other Chubb news, insider John J. Lupica sold 5,513 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the sale, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Corbat acquired 425 shares of the business’s stock in a transaction on Friday, July 25th. The stock was acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the acquisition, the director owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.86% of the stock is currently 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.