OneAscent Financial Services LLC Invests $523,000 in Chubb Limited $CB

OneAscent Financial Services LLC purchased a new position in Chubb Limited (NYSE:CB) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,534 shares of the financial services provider’s stock, valued at approximately $523,000.

Several other institutional investors have also recently added to or reduced their stakes in CB. BlackRock Inc. bought a new position in Chubb during the 2nd quarter valued at $9,913,336,000. Norges Bank bought a new stake in shares of Chubb in the 4th quarter worth about $1,081,190,000. Bank of New York Mellon Corp bought a new stake in shares of Chubb in the 2nd quarter worth about $1,042,549,000. Price T Rowe Associates Inc. MD raised its stake in shares of Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after purchasing an additional 3,049,987 shares in the last quarter. Finally, Berkshire Hathaway Inc raised its stake in shares of Chubb by 9.3% in the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Chubb Stock Up 0.6%

Shares of NYSE:CB opened at $342.98 on Friday. The company’s fifty day moving average is $345.61 and its two-hundred day moving average is $333.25. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91. The stock has a market capitalization of $132.32 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.68 and a beta of 0.39.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. During the same period in the previous year, the business posted $6.14 EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Equities analysts anticipate that Chubb Limited will post 27.45 EPS for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Analyst Ratings Changes

Several equities analysts have recently commented on CB shares. BMO Capital Markets increased their price target on shares of Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Barclays set a $387.00 price objective on Chubb in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $354.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Mizuho increased their target price on Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, Piper Sandler lifted their target price on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Two 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and an average price target of $361.00.

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.