Chubb Limited $CB Shares Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its holdings in Chubb Limited (NYSE:CB) by 144.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,458 shares of the financial services provider’s stock after buying an additional 1,454 shares during the period. Provenance Wealth Advisors LLC’s holdings in Chubb were worth $799,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CB. IMG Wealth Management Inc. purchased a new stake in Chubb during the 2nd quarter valued at about $25,000. Dunhill Financial LLC acquired a new stake in Chubb in the 2nd quarter valued at about $25,000. Parvin Asset Management LLC acquired a new stake in Chubb in the 2nd quarter valued at about $26,000. Highland Investment Advisors LLC purchased a new position in Chubb in the 2nd quarter worth approximately $26,000. Finally, Frazier Financial Advisors LLC lifted its stake in Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Chubb

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Chubb’s partnership with Currys expands its embedded-insurance reach in the U.K., positioning it to capture demand for mobile-device protection through retail and digital channels. Can Chubb’s Currys Partnership Expand Embedded Insurance Growth?
• Positive Sentiment: Recent coverage highlighted Chubb as a momentum stock and noted that shares had reached a 52-week high. This may reinforce investor interest, although the articles do not identify a specific new company catalyst behind the run. What Makes Chubb (CB) a Strong Momentum Stock: Buy Now?
• Neutral Sentiment: An article on possible interest-rate hikes cited insurers among stocks that could benefit. Higher rates can improve investment income over time, but the outlook is conditional and not specific to Chubb. Rate Hikes Could Be Coming: History Likes These 4 Insurance Stocks
• Neutral Sentiment: Zacks Research made a mix of modest upward and downward earnings-estimate changes across coming quarters and fiscal years. The revisions offer no clear overall change in expectations. Chubb Limited analyst estimates
• Negative Sentiment: CEO Evan Greenberg sold 13,889 shares for about $5 million. Insider sales can weigh on sentiment, though he retained 277,274 shares after the transaction. Chubb CEO Sells 13,889 Shares

Chubb Stock Performance

NYSE:CB opened at $374.41 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $143.06 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 1.69 and a beta of 0.29. The company’s 50-day moving average is $344.94 and its two-hundred day moving average is $334.80. Chubb Limited has a 1-year low of $282.11 and a 1-year high of $374.60.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share for the quarter, beating the consensus estimate of $6.77 by $0.89. The business had revenue of $16.20 billion during the quarter, compared to analysts’ expectations of $15.66 billion. Chubb had a net margin of 18.15% and a return on equity of 14.41%. During the same quarter in the prior year, the company posted $7.49 EPS. Analysts forecast that Chubb Limited will post 28.89 EPS for the current year.

Chubb Dividend Announcement

The firm 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. The ex-dividend date was Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. Chubb’s dividend payout ratio is currently 14.28%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CB. Piper Sandler boosted their target price on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. TD Cowen increased their price target on Chubb from $360.00 to $379.00 and gave the company a “hold” rating in a report on Wednesday, October 28th. Mizuho lifted their price objective on Chubb from $336.00 to $350.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Atlantic Securities set a $301.00 price objective on Chubb in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $354.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Two investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $362.78.

Insider Activity at Chubb

In related news, CEO Evan G. Greenberg sold 13,889 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $360.02, for a total value of $5,000,317.78. Following the completion of the transaction, the chief executive officer directly owned 277,274 shares in the company, valued at approximately $99,824,185.48. This represents a 4.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael 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 sale, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 32,985 shares of company stock worth $11,748,463. Insiders own 0.37% of the company’s stock.

Chubb Company 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.