Columbia Asset Management Acquires 48 Shares of Chubb Limited $CB

Columbia Asset Management lifted its holdings in Chubb Limited (NYSE:CB) by 1.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,550 shares of the financial services provider’s stock after acquiring an additional 48 shares during the quarter. Columbia Asset Management’s holdings in Chubb were worth $1,029,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Modern Wealth Management LLC lifted its holdings in shares of Chubb by 6.2% in the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock worth $744,000 after acquiring an additional 143 shares during the last quarter. Jump Financial LLC lifted its holdings in shares of Chubb by 633.6% in the 1st quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider’s stock worth $2,470,000 after acquiring an additional 7,065 shares during the last quarter. Legato Capital Management LLC lifted its holdings in shares of Chubb by 120.9% in the 1st quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider’s stock worth $3,080,000 after acquiring an additional 5,582 shares during the last quarter. Davis Rea LTD. bought a new stake in shares of Chubb in the 1st quarter worth approximately $5,117,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Chubb by 3.3% in the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider’s stock worth $13,070,000 after acquiring an additional 1,375 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wolfe Research upgraded shares of Chubb to a “strong-buy” rating in a report on Tuesday, September 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $283.00 target price (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $314.00 to $324.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. Cantor Fitzgerald raised shares of Chubb to a “hold” rating in a research note on Wednesday, August 13th. Finally, HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and decreased their target price for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus target price of $303.06.

Chubb Stock Up 0.9%

Shares of Chubb stock opened at $282.15 on Wednesday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The company’s fifty day simple moving average is $274.00 and its two-hundred day simple moving average is $282.44. The company has a market cap of $112.49 billion, a P/E ratio of 12.45, a PEG ratio of 3.16 and a beta of 0.56. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion for 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%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.38 EPS. Research analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

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

Insider Transactions at Chubb

In related news, Director Michael Corbat acquired 425 shares of Chubb stock in a transaction 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 transaction, the director owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.86% of the company’s stock.

Chubb 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.