NewEdge Advisors LLC Grows Position in Chubb Limited $CB

NewEdge Advisors LLC boosted its position in Chubb Limited (NYSE:CB) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,590 shares of the financial services provider’s stock after acquiring an additional 2,956 shares during the quarter. NewEdge Advisors LLC’s holdings in Chubb were worth $33,934,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CB. Brighton Jones LLC increased its holdings in Chubb by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after buying an additional 221 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in Chubb during the 4th quarter worth about $205,000. Woodline Partners LP lifted its holdings in Chubb by 13.0% during the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock worth $3,805,000 after buying an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Chubb by 14.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 175 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Chubb by 9.3% during the 2nd quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock worth $58,305,000 after acquiring an additional 17,155 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 0.3%

Shares of NYSE CB opened at $337.59 on Thursday. The stock has a market cap of $130.24 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.61 and a beta of 0.37. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 52-week low of $265.30 and a 52-week high of $365.91. The business has a 50-day moving average price of $347.88 and a 200 day moving average price of $334.70.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS 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 analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.14 earnings per share. Equities research analysts forecast that Chubb Limited will post 27.35 earnings per share for the current year.

Chubb Announces Dividend

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

Insider Buying and Selling at Chubb

In other Chubb news, EVP Joseph Wayland sold 8,502 shares of the firm’s 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 transaction, the executive vice president directly owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael P. Connors sold 5,500 shares of Chubb stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CB has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. HSBC downgraded Chubb from a “buy” rating to a “hold” rating and upped their price target for the company from $370.00 to $373.00 in a report on Monday, July 6th. JPMorgan Chase & Co. increased their price target on shares of Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. The Goldman Sachs Group raised their price objective on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Finally, Citigroup restated a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus target price of $361.00.

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. The company serves businesses, individuals, and institutional clients, offering coverage for commercial property, liability, marine, cyber risk, workers’ compensation, professional lines, personal assets, and other specialty risks.

Chubb distributes its products through brokers, agents, banks, and other business partners. Its commercial insurance operations serve companies ranging from small businesses to multinational corporations, while its personal insurance business provides coverage for homes, automobiles, valuable possessions, and other personal risks.