Chubb Limited $CB Shares Purchased by Trust Point Inc.

Trust Point Inc. increased its holdings in Chubb Limited (NYSE:CB) by 932.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 15,953 shares of the financial services provider’s stock after acquiring an additional 14,408 shares during the period. Trust Point Inc.’s holdings in Chubb were worth $5,436,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CBIZ Investment Advisory Services LLC increased its position in shares of Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 49 shares during the last quarter. Frazier Financial Advisors LLC lifted its position in Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after buying an additional 38 shares during the last quarter. Merkkuri Wealth Advisors LLC acquired a new position in Chubb in the first quarter valued at about $29,000. Laurel Wealth Advisors LLC purchased a new position in Chubb during the fourth quarter worth about $31,000. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Chubb during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup restated a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Jefferies Financial Group cut their target price on Chubb from $356.00 to $352.00 and set a “hold” rating on the stock in a research report on Thursday, April 23rd. Cantor Fitzgerald upped their price target on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Piper Sandler lifted their price objective on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Morgan Stanley boosted their price objective on Chubb from $330.00 to $340.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $360.09.

Chubb Stock Down 1.1%

Shares of NYSE CB opened at $350.17 on Friday. The stock has a market cap of $135.10 billion, a P/E ratio of 12.39, a PEG ratio of 1.75 and a beta of 0.39. The business’s fifty day simple moving average is $341.33 and its 200-day simple moving average is $330.43. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.49. The company had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.14 EPS. As a group, equities analysts predict that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, June 12th. This is an increase from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio is 14.43%.

Insider Buying and Selling

In related news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is currently owned by company insiders.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.