Prosperitas Financial LLC Acquires New Stake in Chubb Limited $CB

Prosperitas Financial LLC acquired a new position in shares of Chubb Limited (NYSE:CB) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,336 shares of the financial services provider’s stock, valued at approximately $2,386,000.

Other institutional investors also recently made changes to their positions in the company. IMG Wealth Management Inc. acquired a new stake in shares of Chubb during the second quarter worth approximately $25,000. Dunhill Financial LLC bought a new position in Chubb during the 2nd quarter valued at $25,000. Parvin Asset Management LLC bought a new position in Chubb during the 2nd quarter valued at $26,000. Highland Investment Advisors LLC acquired a new position in Chubb during the 2nd quarter worth $26,000. Finally, Frazier Financial Advisors LLC grew its holdings in Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 38 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

Shares of NYSE CB opened at $364.12 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.28 and a quick ratio of 0.29. The firm has a market capitalization of $139.12 billion, a PE ratio of 12.74, a P/E/G ratio of 1.68 and a beta of 0.36. Chubb Limited has a 1-year low of $273.35 and a 1-year high of $369.00. The business’s fifty day moving average price is $343.33 and its two-hundred day moving average price is $333.76.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.89. Chubb had a net margin of 18.15% and a return on equity of 14.41%. The company had revenue of $16.20 billion during the quarter, compared to the consensus estimate of $15.66 billion. During the same quarter in the previous year, the company posted $7.49 earnings per share. On average, research analysts expect that Chubb Limited will post 28.82 EPS for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, September 11th. Chubb’s dividend payout ratio (DPR) is 14.28%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CB shares. HSBC reissued a “hold” rating and issued a $359.00 target price on shares of Chubb in a research report on Wednesday, October 7th. Piper Sandler increased their price target on shares of Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Citizens Jmp reiterated a “market outperform” rating and issued a $400.00 price target on shares of Chubb in a research note on Wednesday, July 22nd. TD Cowen boosted their price objective on Chubb from $360.00 to $379.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on Chubb from $343.00 to $366.00 and gave the company an “equal weight” rating in a report on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $362.78.

Insider Activity

In other Chubb news, Director Michael P. Connors sold 5,500 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the transaction, the director owned 12,803 shares in the company, valued at approximately $4,417,035. This represents a 30.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Boroughs sold 13,596 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $356.77, for a total transaction of $4,850,644.92. Following the completion of the transaction, the executive vice president owned 5,588 shares of the company’s stock, valued at approximately $1,993,630.76. This trade represents a 70.87% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.37% of the company’s stock.

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.