Trust Investment Advisors Makes New Investment in Chubb Limited (NYSE:CB)

Posted by Defense World Staff on Jun 18th, 2023

Trust Investment Advisors purchased a new position in Chubb Limited (NYSE:CB – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 958 shares of the financial services provider’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds also recently modified their holdings of CB. Hodges Capital Management Inc. boosted its stake in Chubb by 42.1% during the fourth quarter. Hodges Capital Management Inc. now owns 13,502 shares of the financial services provider’s stock valued at $2,978,000 after buying an additional 3,998 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in Chubb by 16.6% during the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,994 shares of the financial services provider’s stock valued at $660,000 after buying an additional 426 shares in the last quarter. OLD National Bancorp IN boosted its stake in Chubb by 4.7% during the fourth quarter. OLD National Bancorp IN now owns 7,380 shares of the financial services provider’s stock valued at $1,628,000 after buying an additional 333 shares in the last quarter. WoodTrust Financial Corp bought a new position in Chubb during the fourth quarter valued at about $203,000. Finally, Advisor Group Holdings Inc. boosted its stake in Chubb by 2.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 119,904 shares of the financial services provider’s stock valued at $26,463,000 after buying an additional 2,765 shares in the last quarter. Institutional investors own 87.12% of the company’s stock.

Analysts Set New Price Targets

CB has been the subject of several research reports. Jefferies Financial Group decreased their target price on Chubb from $237.00 to $221.00 and set a “hold” rating for the company in a research note on Monday, April 10th. Barclays increased their price objective on Chubb from $256.00 to $260.00 in a research note on Thursday, April 27th. Piper Sandler increased their price objective on Chubb from $240.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 4th. JPMorgan Chase & Co. increased their price objective on Chubb from $239.00 to $241.00 and gave the stock an “overweight” rating in a research note on Friday, March 31st. Finally, StockNews.com downgraded Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Chubb has an average rating of “Moderate Buy” and a consensus target price of $243.54.

Chubb Stock Up 1.9 %

CB opened at $194.94 on Friday. Chubb Limited has a fifty-two week low of $173.78 and a fifty-two week high of $231.37. The business has a 50-day moving average of $196.58 and a 200-day moving average of $206.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $80.74 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.09 and a beta of 0.65.

Chubb (NYSE:CB – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $4.41 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.04. Chubb had a return on equity of 13.13% and a net margin of 11.71%. The company had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.39 billion. During the same period last year, the business earned $3.82 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts forecast that Chubb Limited will post 17.62 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 16th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.76%. This is an increase from Chubb’s previous quarterly dividend of $0.83. The ex-dividend date is Thursday, June 15th. Chubb’s dividend payout ratio (DPR) is presently 27.61%.

Chubb announced that its board has initiated a share buyback plan on Monday, June 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Chubb

In related news, Director Theodore Shasta sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $189.73, for a total value of $189,730.00. Following the transaction, the director now directly owns 14,488 shares of the company’s stock, valued at approximately $2,748,808.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is owned by company insiders.

Chubb Profile

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Chubb Ltd. operates as a holding company, which engages in the provision of commercial and personal property and casualty insurance, personal accident and accident and health (A&H), reinsurance, and life insurance. It operates through the following segments: North America Commercial Property and Casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance.