Principle Wealth Partners LLC Makes New Investment in Chubb Limited $CB

Principle Wealth Partners LLC purchased a new stake in shares of Chubb Limited (NYSE:CB) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,616 shares of the financial services provider’s stock, valued at approximately $1,232,000.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in shares of Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 221 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Chubb during the 4th quarter valued at $205,000. Woodline Partners LP raised its position in Chubb by 13.0% in the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock worth $3,805,000 after purchasing an additional 1,449 shares during the period. Sivia Capital Partners LLC raised its position in Chubb by 14.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 175 shares during the period. Finally, Sei Investments Co. lifted its stake in Chubb by 9.3% in the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock worth $58,305,000 after purchasing an additional 17,155 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of Chubb stock opened at $341.24 on Tuesday. The firm has a market cap of $131.65 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $344.69 and its two-hundred day simple moving average is $332.47.

Chubb (NYSE:CB) last released 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 firm had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.14 earnings per share. As a group, equities analysts expect that Chubb Limited will post 27.45 EPS for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be issued a dividend of $1.02 per share. 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 currently 14.43%.

Analysts Set New Price Targets

Several research firms have issued reports on CB. The Goldman Sachs Group upped their price target on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Wells Fargo & Company decreased their price objective on Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. Barclays set a $387.00 target price on Chubb in a research note on Tuesday, July 7th. UBS Group increased their target price on Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $360.09.

Insider Transactions at Chubb

In other Chubb news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was 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 of the company’s stock, valued at $65,370,056.22. This represents a 10.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the sale, the executive vice president owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.

About Chubb

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.