Elite Wealth Management Inc. Invests $7.98 Million in Chubb Limited $CB

Elite Wealth Management Inc. bought a new position in shares of Chubb Limited (NYSE:CB) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 24,488 shares of the financial services provider’s stock, valued at approximately $7,981,000. Chubb comprises about 2.6% of Elite Wealth Management Inc.’s portfolio, making the stock its 11th biggest holding.

A number of other large investors have also added to or reduced their stakes in CB. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after buying an additional 49 shares during the period. Frazier Financial Advisors LLC grew 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 valued at $27,000 after buying an additional 38 shares during the last quarter. Merkkuri Wealth Advisors LLC bought a new position in Chubb in the 1st quarter valued at about $29,000. Laurel Wealth Advisors LLC bought a new position in Chubb in the 4th quarter valued at about $31,000. Finally, Ares Financial Consulting LLC acquired a new stake in Chubb during the fourth quarter worth approximately $32,000. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Chubb from $330.00 to $340.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Barclays set a $387.00 target price on Chubb in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $354.00 price target on shares of Chubb in a research note on Wednesday, July 22nd. Citigroup reaffirmed a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $360.09.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Chubb Price Performance

Shares of NYSE CB opened at $359.00 on Tuesday. The business has a fifty day moving average price of $336.13 and a two-hundred day moving average price of $327.52. The stock has a market capitalization of $139.24 billion, a PE ratio of 12.70, a P/E/G ratio of 1.80 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.36 and a quick ratio of 0.28. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $365.29.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company had revenue of $16.01 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same period in the prior year, the firm posted $6.14 EPS. Chubb’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities analysts predict that Chubb Limited will post 27.15 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, June 12th. This is a boost from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio is presently 14.43%.

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.