Ascent Group LLC Grows Stock Holdings in Chubb Limited $CB

Key Points

• Ascent Group LLC increased its stake in Chubb Limited by 77.7% in the first quarter, acquiring an additional 1,985 shares, bringing their total holdings to 4,540 shares valued at approximately $1.37 million.
• Chubb recently reported quarterly earnings of $6.14 per share, exceeding analyst estimates, and announced a $5 billion share buyback program to purchase up to 4.3% of its shares.
• The company declared a quarterly dividend of $0.97 per share, with a payout ratio of 17.12%, to be paid on October 3rd to shareholders of record on September 12th.

Ascent Group LLC lifted its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 77.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,540 shares of the financial services provider's stock after purchasing an additional 1,985 shares during the period. Ascent Group LLC's holdings in Chubb were worth $1,371,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Peoples Bank KS bought a new stake in Chubb in the 1st quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Chubb in the 1st quarter worth about $25,000. North Capital Inc. purchased a new stake in shares of Chubb in the 1st quarter worth about $26,000. IMA Advisory Services Inc. purchased a new stake in shares of Chubb in the 1st quarter worth about $31,000. Finally, 1248 Management LLC purchased a new stake in shares of Chubb in the 1st quarter worth about $31,000. Institutional investors own 83.81% of the company's stock.

Insider Activity at Chubb

In other news, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the transaction, the insider 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Corbat bought 425 shares of the stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director directly owned 2,450 shares of the company's stock, valued at approximately $661,010. This represents a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.77% of the stock is owned by insiders.

Chubb Stock Performance

Shares of CB stock traded down $4.87 during trading hours on Friday, reaching $278.02. The company had a trading volume of 2,115,158 shares, compared to its average volume of 1,621,329. The business has a fifty day moving average price of $274.38 and a 200-day moving average price of $283.40. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The firm has a market cap of $110.84 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 3.19 and a beta of 0.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28.

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

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb's payout ratio is currently 17.12%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CB. Piper Sandler reissued a "neutral" rating and set a $283.00 price target (down from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a research report on Wednesday, August 13th. UBS Group lowered their price target on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Morgan Stanley decreased their target price on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Finally, HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and decreased their target price for the stock from $317.00 to $300.00 in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $302.00.

Chubb 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.