Corient Private Wealth LP Makes New Investment in Chubb Limited $CB

Corient Private Wealth LP bought a new stake in Chubb Limited (NYSE:CB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 670,755 shares of the financial services provider’s stock, valued at approximately $228,554,000. Corient Private Wealth LP owned 0.17% of Chubb as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. IMG Wealth Management Inc. acquired a new position in shares of Chubb during the 2nd quarter worth $25,000. Dunhill Financial LLC acquired a new stake in shares of Chubb in the second quarter valued at about $25,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the period. Frazier Financial Advisors LLC grew its position in Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after buying an additional 38 shares during the period. Finally, Merkkuri Wealth Advisors LLC acquired a new position in Chubb during the first quarter worth about $29,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Performance

NYSE:CB opened at $344.08 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $132.75 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.39. The firm has a 50-day moving average price of $346.84 and a two-hundred day moving average price of $333.88. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (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 company had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the prior year, the firm earned $6.14 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, research analysts expect that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb’s payout ratio is currently 14.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CB shares. Citizens Jmp reiterated a “market outperform” rating and set a $400.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. UBS Group upped their price target on Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Mizuho raised their price objective on Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Morgan Stanley lifted their price objective on Chubb from $340.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th. Finally, Cantor Fitzgerald boosted their target price on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $361.00.

Insider Activity at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction 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 sale, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael P. Connors sold 5,500 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the transaction, the director directly owned 12,803 shares of the company’s stock, valued at $4,417,035. The trade was a 30.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.37% of the company’s stock.

Chubb Company Profile

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.