Aspire Growth Partners LLC Invests $501,000 in Chubb Limited $CB

Key Points

• Aspire Growth Partners LLC has acquired a new stake in Chubb Limited, investing approximately $501,000 for 1,726 shares during the first quarter.
• Chubb recently reported a strong earnings performance with $6.14 earnings per share, exceeding expectations, and a year-over-year revenue growth of 6.3%.
• The company has approved a $5 billion stock buyback plan, indicative of management's belief that the stock is undervalued.

Aspire Growth Partners LLC purchased a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,726 shares of the financial services provider's stock, valued at approximately $501,000.

Other hedge funds also recently modified their holdings of the company. GQG Partners LLC increased its stake in Chubb by 112.1% in the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock valued at $2,836,899,000 after purchasing an additional 4,964,298 shares in the last quarter. Demars Financial Group LLC grew its stake in shares of Chubb by 16.4% in the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock valued at $1,884,004,000 after buying an additional 878,177 shares during the period. Royal Bank of Canada increased its position in Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock valued at $1,217,392,000 after buying an additional 1,403,545 shares in the last quarter. Northern Trust Corp grew its stake in Chubb by 15.3% in the fourth quarter. Northern Trust Corp now owns 3,923,754 shares of the financial services provider's stock valued at $1,084,133,000 after acquiring an additional 522,049 shares during the period. Finally, Deutsche Bank AG grew its stake in Chubb by 9.2% in the fourth quarter. Deutsche Bank AG now owns 3,603,145 shares of the financial services provider's stock valued at $995,549,000 after acquiring an additional 302,699 shares during the period. Institutional investors own 83.81% of the company's stock.

Chubb Stock Performance

Shares of NYSE CB traded down $1.4450 during mid-day trading on Friday, hitting $277.3750. The company had a trading volume of 1,401,699 shares, compared to its average volume of 1,895,244. 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 Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The company has a market capitalization of $110.59 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 3.15 and a beta of 0.53. The stock's 50-day moving average price is $276.76 and its 200-day moving average price is $282.53.

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 for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the previous year, the firm earned $5.38 EPS. The company's quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

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

Chubb declared that its Board of Directors has approved a stock buyback program on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CB shares. Piper Sandler reissued a "neutral" rating and issued a $283.00 price target (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Evercore ISI set a $312.00 price objective on shares of Chubb in a report on Wednesday, July 23rd. Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a research report on Wednesday, August 13th. HSBC lowered Chubb from a "buy" rating to a "hold" rating and dropped their target price for the company from $317.00 to $300.00 in a report on Friday, August 1st. Finally, Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. One equities research 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. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $302.00.

Insider Buying and Selling at Chubb

In related news, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider directly owned 91,180 shares in the company, valued at $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 is available through this hyperlink. Also, Director Michael Corbat purchased 425 shares of the stock in a transaction on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.77% of the company's stock.

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.