NewEdge Wealth LLC Takes $4.50 Million Position in Chubb Limited $CB

NewEdge Wealth LLC purchased a new position in Chubb Limited (NYSE:CB) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 13,199 shares of the financial services provider’s stock, valued at approximately $4,497,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. purchased a new position in Chubb in the second quarter valued at about $25,000. Dunhill Financial LLC acquired a new position in Chubb in the 2nd quarter worth about $25,000. CBIZ Investment Advisory Services LLC raised its stake 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 purchasing an additional 49 shares in the last quarter. Frazier Financial Advisors LLC lifted its holdings in shares of Chubb by 86.4% during 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. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in shares of Chubb during the 1st quarter valued at about $29,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Performance

Shares of NYSE CB opened at $341.45 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $131.73 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 1.71 and a beta of 0.39. The business’s 50-day simple moving average is $345.32 and its 200-day simple moving average is $333.02. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same period last year, the business earned $6.14 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Chubb Limited will post 27.45 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Joseph F. Wayland sold 8,502 shares of the company’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 completion of the sale, the executive vice president directly owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CB. JPMorgan Chase & Co. boosted their price target on Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and raised their price objective for the company from $370.00 to $373.00 in a research report on Monday, July 6th. Morgan Stanley boosted their target price on shares of Chubb from $340.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Jefferies Financial Group dropped their price target on shares of Chubb from $356.00 to $352.00 and set a “hold” rating on the stock in a research note on Thursday, April 23rd. Finally, Wells Fargo & Company cut their price target on shares of Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. Two research 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 given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $361.00.

Chubb 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.