Anchor Investment Management LLC Has $1.69 Million Stock Holdings in Chubb Limited $CB

Key Points

• Anchor Investment Management increased its Chubb position by 1,702.5% in the second quarter, ending with 4,957 shares valued at approximately $1.69 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, beating the $6.77 consensus estimate, while revenue rose 3.6% year over year to $11.97 billion. Analysts maintain a consensus “Hold” rating with a $361 average price target.
• Chubb declared a quarterly dividend of $1.02, equivalent to $4.08 annually and a 1.2% yield. Two company insiders recently sold shares, while insiders collectively own 0.37% of the stock.

Anchor Investment Management LLC lifted its position in Chubb Limited (NYSE:CB - Free Report) by 1,702.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,957 shares of the financial services provider's stock after purchasing an additional 4,682 shares during the quarter. Anchor Investment Management LLC's holdings in Chubb were worth $1,689,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. XXEC Inc. bought a new position in shares of Chubb in the second quarter valued at approximately $228,226,000. Berkshire Hathaway Inc raised its position in Chubb by 9.3% in the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider's stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares during the last quarter. BlackRock Inc. bought a new position in Chubb in the 2nd quarter valued at $9,913,336,000. GQG Partners LLC acquired a new position in Chubb in the second quarter worth $4,250,113,000. Finally, Bank of America Corp DE boosted its stake in Chubb by 3.1% in the first quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider's stock worth $1,599,868,000 after purchasing an additional 147,876 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Stock Performance

Shares of NYSE:CB opened at $341.99 on Wednesday. The stock has a market capitalization of $131.94 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.63 and a beta of 0.37. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $346.35 and a two-hundred day moving average price of $334.87.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $6.14 EPS. Equities analysts predict that Chubb Limited will post 27.35 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently disclosed 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 is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb's dividend payout ratio is currently 14.43%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CB shares. Cantor Fitzgerald raised their target price on Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday. Piper Sandler upped their price target on shares of Chubb from $340.00 to $374.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. HSBC lowered shares of Chubb from a "buy" rating to a "hold" rating and increased their price objective for the stock from $370.00 to $373.00 in a report on Monday, July 6th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $374.00 to $389.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $361.00.

Insider Buying and Selling at Chubb

In related news, Director Michael Connors sold 5,500 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares of the company's stock, valued at approximately $4,417,035. This represents a 30.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares of the company's stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.37% of the company's stock.

Chubb Company Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. The company serves businesses, individuals, and institutional clients, offering coverage for commercial property, liability, marine, cyber risk, workers' compensation, professional lines, personal assets, and other specialty risks.

Chubb distributes its products through brokers, agents, banks, and other business partners. Its commercial insurance operations serve companies ranging from small businesses to multinational corporations, while its personal insurance business provides coverage for homes, automobiles, valuable possessions, and other personal risks.

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