Orca Wealth Management LLC Has $3.38 Million Stock Holdings in Chubb Limited $CB

Orca Wealth Management LLC reduced its position in Chubb Limited (NYSE:CB) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,678 shares of the financial services provider’s stock after selling 58 shares during the quarter. Chubb makes up 2.8% of Orca Wealth Management LLC’s portfolio, making the stock its 10th largest holding. Orca Wealth Management LLC’s holdings in Chubb were worth $3,383,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on CB shares. Keefe, Bruyette & Woods lifted their price objective on Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Piper Sandler reissued a “neutral” rating and set a $283.00 price objective (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Chubb in a report on Saturday, September 27th. Evercore ISI lifted their price objective on Chubb from $312.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Cantor Fitzgerald raised Chubb to a “hold” rating in a report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Chubb has a consensus rating of “Hold” and an average price target of $303.24.

Insiders Place Their Bets

In other news, Director Michael Corbat acquired 425 shares of the company’s stock in a transaction on Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the acquisition, the director owned 2,450 shares of the company’s stock, valued at $661,010. This trade represents a 20.99% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.77% of the company’s stock.

Chubb Stock Performance

Chubb stock opened at $283.99 on Friday. The stock has a 50-day simple moving average of $274.76 and a 200 day simple moving average of $282.15. The company has a quick ratio of 0.28, a current 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 stock has a market capitalization of $113.22 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 3.20 and a beta of 0.54.

Chubb (NYSE:CB) last released its quarterly earnings results 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. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the previous year, the business posted $5.38 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

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

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.