Samalin Investment Counsel LLC Takes Position in Chubb Limited $CB

Key Points

• Samalin Investment Counsel LLC has acquired a new stake in Chubb Limited, purchasing 955 shares valued at approximately $288,000.
• Chubb reported a strong quarterly earnings report with $6.14 earnings per share, exceeding analyst estimates, and a 6.3% revenue increase year-over-year.
• The company has initiated a $5.00 billion share buyback program, indicating the board's belief that the shares are undervalued.

Samalin Investment Counsel LLC acquired a new position in Chubb Limited (NYSE:CB - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 955 shares of the financial services provider's stock, valued at approximately $288,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Gabelli Funds LLC raised its position in shares of Chubb by 31.3% in the first quarter. Gabelli Funds LLC now owns 18,650 shares of the financial services provider's stock worth $5,632,000 after buying an additional 4,448 shares in the last quarter. South Plains Financial Inc. raised its position in shares of Chubb by 32.2% in the first quarter. South Plains Financial Inc. now owns 969 shares of the financial services provider's stock worth $293,000 after buying an additional 236 shares in the last quarter. Brooks Moore & Associates Inc. raised its position in shares of Chubb by 56.0% in the first quarter. Brooks Moore & Associates Inc. now owns 8,027 shares of the financial services provider's stock worth $2,424,000 after buying an additional 2,882 shares in the last quarter. Apexium Financial LP raised its position in shares of Chubb by 2.5% in the first quarter. Apexium Financial LP now owns 2,618 shares of the financial services provider's stock worth $793,000 after buying an additional 63 shares in the last quarter. Finally, Tandem Wealth Advisors LLC raised its position in Chubb by 3.9% during the first quarter. Tandem Wealth Advisors LLC now owns 1,436 shares of the financial services provider's stock valued at $434,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Trading Up 0.7%

Shares of NYSE:CB traded up $1.87 on Monday, reaching $275.12. 1,248,361 shares of the company traded hands, compared to its average volume of 1,558,304. The business's 50-day simple moving average is $275.77 and its 200 day simple moving average is $282.88. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The stock has a market capitalization of $109.69 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 3.10 and a beta of 0.56. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.30. The company had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.Chubb's quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $5.38 earnings per share. As a group, equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb's dividend payout ratio (DPR) is presently 17.12%.

Chubb announced that its board has authorized a stock buyback plan on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CB. Evercore ISI set a $312.00 price target on Chubb in a research report on Wednesday, July 23rd. Piper Sandler restated a "neutral" rating and set a $283.00 price target (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Citigroup began coverage on Chubb in a research report on Wednesday, August 13th. They set a "buy" rating and a $326.00 price target on the stock. Morgan Stanley lowered their price target on Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Finally, Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $302.00.

Insider Buying and Selling

In other Chubb news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Corbat acquired 425 shares of the business's stock in a transaction on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.86% of the stock is owned by insiders.

Chubb Company Profile

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 risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.