Commerce Bank bought a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 107,590 shares of the financial services provider's stock, valued at approximately $36,660,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CB. IMG Wealth Management Inc. acquired a new stake in shares of Chubb during the second quarter worth about $25,000. Dunhill Financial LLC acquired a new position in shares of Chubb in the 2nd quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its stake in Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock worth $26,000 after purchasing an additional 49 shares in the last quarter. Frazier Financial Advisors LLC increased its stake in Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock worth $27,000 after purchasing an additional 38 shares in the last quarter. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in Chubb during the 1st quarter worth approximately $29,000. 83.81% of the stock is owned by institutional investors and hedge funds.
Chubb Price Performance
Shares of CB opened at $341.15 on Friday. The stock has a market capitalization of $131.62 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.65 and a beta of 0.39. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. The company has a 50 day moving average of $345.88 and a 200-day moving average of $333.31. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22.
Chubb (NYSE:CB - Get Free Report) 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 for the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm's revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $6.14 earnings per share. As a group, equities research analysts forecast that Chubb Limited will post 27.49 EPS for the current fiscal year.
Chubb Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be given a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb's dividend payout ratio (DPR) is 14.43%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on CB shares. Piper Sandler upped their price target on shares of Chubb from $340.00 to $374.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $354.00 price objective on shares of Chubb in a report on Wednesday, July 22nd. Morgan Stanley boosted their price objective on shares of Chubb from $340.00 to $360.00 and gave the company an "equal weight" rating in a research report on Wednesday. Barclays set a $387.00 target price on shares of Chubb in a research note on Tuesday, July 7th. Finally, Weiss Ratings upgraded Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $361.00.
Check Out Our Latest Stock Analysis on CB
Insider Buying and Selling at Chubb
In other Chubb news, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares of the company's stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares of the company's stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is currently owned by insiders.
Chubb Profile
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Free Report)
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.
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