Empowered Funds LLC Purchases Shares of 28,891 Chubb Limited $CB

Empowered Funds LLC acquired a new position in shares of Chubb Limited (NYSE:CB) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 28,891 shares of the financial services provider’s stock, valued at approximately $9,844,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. XXEC Inc. bought a new stake in shares of Chubb in the 2nd quarter worth about $228,226,000. Berkshire Hathaway Inc bought a new position in shares of Chubb in the 2nd quarter valued at about $11,670,067,000. BlackRock Inc. purchased a new position in Chubb in the second quarter worth about $9,913,336,000. GQG Partners LLC purchased a new position in Chubb in the second quarter worth about $4,250,113,000. Finally, Bank of America Corp DE bought a new stake in Chubb during the second quarter worth approximately $1,545,084,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Trading Up 0.6%

Shares of NYSE CB opened at $340.34 on Friday. 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 business’s 50 day moving average price is $347.46 and its 200-day moving average price is $333.97. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The company has a market cap of $131.30 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.65 and a beta of 0.39.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.14 EPS. On average, sell-side analysts expect that Chubb Limited will post 27.35 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio is presently 14.43%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CB shares. Morgan Stanley raised their price objective on Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. UBS Group boosted their target price on Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Barclays set a $387.00 price target on Chubb in a report on Tuesday, July 7th. Piper Sandler raised their price target on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Chubb in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $361.00.

Insider Activity

In related news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated 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 owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael P. Connors sold 5,500 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was 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 $4,417,035. This represents a 30.05% 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.

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.