Chubb Limited (NYSE:CB) Stock Holdings Boosted by Stratos Wealth Partners LTD.

Posted by Defense World Staff on Oct 1st, 2023

Stratos Wealth Partners LTD. boosted its position in Chubb Limited (NYSE:CB – Free Report) by 15.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,984 shares of the financial services provider’s stock after purchasing an additional 803 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Chubb were worth $1,152,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC increased its holdings in shares of Chubb by 102,751.3% during the fourth 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 purchasing an additional 8,281,754 shares during the period. Price T Rowe Associates Inc. MD increased its stake in 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 valued at $5,596,629,000 after buying an additional 4,210,564 shares during the period. Norges Bank bought a new stake in shares of Chubb during the 4th quarter worth about $619,661,000. FMR LLC lifted its stake in shares of Chubb by 21.8% in the 1st quarter. FMR LLC now owns 14,107,981 shares of the financial services provider’s stock worth $2,739,488,000 after acquiring an additional 2,528,499 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Chubb by 165.1% in the first quarter. Envestnet Asset Management Inc. now owns 2,938,042 shares of the financial services provider’s stock valued at $209,485,000 after acquiring an additional 1,829,966 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Chubb Stock Down 1.9 %

NYSE:CB opened at $208.18 on Friday. Chubb Limited has a 1-year low of $181.23 and a 1-year high of $231.37. The firm has a market capitalization of $85.51 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 1.17 and a beta of 0.65. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average price is $204.91 and its 200 day moving average price is $198.12.

Chubb (NYSE:CB – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.41 by $0.51. Chubb had a net margin of 12.47% and a return on equity of 13.56%. The business had revenue of $10.68 billion during the quarter, compared to analyst estimates of $11.24 billion. During the same period in the prior year, the firm earned $4.20 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts forecast that Chubb Limited will post 18.18 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Thursday, September 14th. Chubb’s dividend payout ratio (DPR) is currently 24.71%.

Chubb announced that its board has initiated a stock 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 buy up to 6.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

CB has been the topic of several recent analyst reports. Piper Sandler dropped their target price on Chubb from $248.00 to $237.00 in a report on Thursday, July 6th. Royal Bank of Canada restated an “outperform” rating and issued a $245.00 price objective on shares of Chubb in a report on Tuesday, August 29th. Citigroup lifted their target price on Chubb from $229.00 to $235.00 in a report on Thursday, July 27th. JPMorgan Chase & Co. upped their price target on shares of Chubb from $241.00 to $250.00 in a report on Thursday, July 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $250.00 price objective on shares of Chubb in a research note on Wednesday, July 26th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $242.79.

Get Our Latest Analysis on Chubb

Insider Activity

In related news, EVP Joseph F. Wayland sold 11,537 shares of the 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 directly owns 93,315 shares in the company, valued at $19,938,616.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider John J. Lupica sold 8,398 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $211.74, for a total transaction of $1,778,192.52. Following the transaction, the insider now owns 154,049 shares in the company, valued at approximately $32,618,335.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 11,537 shares of Chubb stock in a transaction on Tuesday, September 19th. The shares were 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 directly owns 93,315 shares of the company’s stock, valued at approximately $19,938,616.05. The disclosure for this sale can be found here. Insiders have sold a total of 34,071 shares of company stock worth $7,110,385 in the last ninety days. Corporate insiders own 0.37% of the company’s stock.

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.