Pacer Advisors Inc. Has $4.91 Million Stock Position in Chubb Limited (NYSE:CB)

Posted by Defense World Staff on Sep 24th, 2023

Pacer Advisors Inc. lowered its holdings in Chubb Limited (NYSE:CB – Free Report) by 1.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,488 shares of the financial services provider’s stock after selling 248 shares during the quarter. Pacer Advisors Inc.’s holdings in Chubb were worth $4,908,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CB. Moneta Group Investment Advisors LLC grew its holdings in Chubb by 102,751.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,289,814 shares of the financial services provider’s stock valued at $1,828,733,000 after buying an additional 8,281,754 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Chubb by 17.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,821,856 shares of the financial services provider’s stock worth $5,596,629,000 after purchasing an additional 4,210,564 shares in the last quarter. Norges Bank acquired a new stake in shares of Chubb during the 4th quarter worth approximately $619,661,000. Ontario Teachers Pension Plan Board grew its holdings in shares of Chubb by 28,222.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 2,619,273 shares of the financial services provider’s stock worth $577,812,000 after purchasing an additional 2,610,025 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Chubb by 21.8% during the 1st quarter. FMR LLC now owns 14,107,981 shares of the financial services provider’s stock worth $2,739,488,000 after purchasing an additional 2,528,499 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Chubb Trading Up 0.3 %

Shares of CB opened at $213.08 on Friday. The stock has a fifty day moving average price of $203.33 and a two-hundred day moving average price of $197.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.34 and a current ratio of 0.34. Chubb Limited has a 52-week low of $173.78 and a 52-week high of $231.37. The company has a market cap of $87.52 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.17 and a beta of 0.65.

Chubb (NYSE:CB – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.41 by $0.51. Chubb had a return on equity of 13.56% and a net margin of 12.47%. The firm had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $11.24 billion. During the same quarter in the previous year, the company posted $4.20 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts predict that Chubb Limited will post 18.18 EPS for the current fiscal year.

Chubb announced that its Board of Directors has approved a share repurchase program on Monday, June 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 15th will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.61%. Chubb’s payout ratio is currently 24.71%.

Insider Transactions at Chubb

In other news, EVP Joseph F. Wayland sold 11,537 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $213.67, for a total transaction of $2,465,110.79. Following the completion of the sale, the executive vice president now owns 93,315 shares in the company, valued at $19,938,616.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO John W. Keogh sold 10,000 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $201.01, for a total transaction of $2,010,100.00. Following the completion of the sale, the chief operating officer now owns 265,184 shares in the company, valued at $53,304,635.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 11,537 shares of Chubb stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $213.67, for a total value of $2,465,110.79. Following the sale, the executive vice president now directly owns 93,315 shares of the company’s stock, valued at $19,938,616.05. The disclosure for this sale can be found here. Insiders sold a total of 34,071 shares of company stock worth $7,110,385 over the last 90 days. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CB shares. JPMorgan Chase & Co. lifted their price objective on Chubb from $241.00 to $250.00 in a report on Thursday, July 6th. StockNews.com started coverage on Chubb in a report on Thursday, August 17th. They set a “buy” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $245.00 price objective on shares of Chubb in a report on Tuesday, August 29th. Barclays raised their target price on Chubb from $260.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Finally, JMP Securities restated a “market outperform” rating and set a $250.00 target price on shares of Chubb in a research report on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Chubb currently has an average rating of “Moderate Buy” and an average price target of $242.79.

Check Out Our Latest Stock Report on Chubb

Chubb Profile

(Free Report)

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.