Elevation Point Wealth Partners LLC Takes Position in Chubb Limited $CB

Elevation Point Wealth Partners LLC acquired a new stake in Chubb Limited (NYSE:CB) in the 2nd quarter, Holdings Channel reports. The fund acquired 5,408 shares of the financial services provider’s stock, valued at approximately $1,843,000.

Several other institutional investors and hedge funds have also made changes to their positions in CB. IMG Wealth Management Inc. purchased a new position in Chubb during the 2nd quarter worth approximately $25,000. Dunhill Financial LLC acquired a new stake in shares of Chubb in the second quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC raised its position in Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the last quarter. Frazier Financial Advisors LLC boosted its stake in shares of Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after buying an additional 38 shares during the period. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in Chubb during the 1st quarter worth approximately $29,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Performance

Chubb stock opened at $341.15 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The company has a fifty day moving average price of $345.88 and a two-hundred day moving average price of $333.46. The company has a market cap of $131.62 billion, a PE ratio of 12.07, a P/E/G ratio of 1.65 and a beta of 0.39.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $15.07 billion. During the same period in the prior year, the company earned $6.14 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. Research analysts expect that Chubb Limited will post 27.49 earnings per share for the current year.

Chubb Dividend Announcement

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

Analyst Ratings Changes

CB has been the subject of a number of recent analyst reports. UBS Group raised their price objective on shares of Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Mizuho increased their price target on Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods lifted their target price on Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Piper Sandler upped 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. Finally, The Goldman Sachs Group upped their target price on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Chubb has a consensus rating of “Hold” and a consensus target price of $361.00.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.37% of the company’s stock.

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.