Atria Wealth Solutions Inc. Has $4.29 Million Stake in Chubb Limited (NYSE:CB)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Chubb Limited by 12.3%, holding $4.29 million worth of shares after selling 1,983 shares in the first quarter.
• Chubb reported $6.14 earnings per share for Q2, exceeding expectations of $5.84, alongside a revenue increase of 6.3% year-over-year.
• The company also announced a quarterly dividend increase from $0.91 to $0.97 per share, representing a yield of 1.4%, and initiated a $5 billion share repurchase program.

Atria Wealth Solutions Inc. trimmed its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 12.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,160 shares of the financial services provider's stock after selling 1,983 shares during the period. Atria Wealth Solutions Inc.'s holdings in Chubb were worth $4,289,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Costello Asset Management INC acquired a new position in shares of Chubb during the first quarter worth approximately $1,004,000. Thoroughbred Financial Services LLC lifted its holdings in Chubb by 2.6% in the first quarter. Thoroughbred Financial Services LLC now owns 9,853 shares of the financial services provider's stock valued at $2,975,000 after buying an additional 252 shares during the period. Sfmg LLC lifted its holdings in Chubb by 3.6% in the first quarter. Sfmg LLC now owns 1,319 shares of the financial services provider's stock valued at $398,000 after buying an additional 46 shares during the period. Earned Wealth Advisors LLC acquired a new position in Chubb in the first quarter valued at approximately $322,000. Finally, Commonwealth Equity Services LLC lifted its holdings in Chubb by 6.3% in the first quarter. Commonwealth Equity Services LLC now owns 85,909 shares of the financial services provider's stock valued at $25,944,000 after buying an additional 5,080 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Down 0.2%

Shares of CB stock opened at $269.14 on Friday. The firm has a fifty day moving average of $280.53 and a 200-day moving average of $282.31. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The company has a market capitalization of $107.31 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 3.05 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data 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. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the prior year, the firm earned $5.38 earnings per share. The firm's revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, June 13th. Chubb's payout ratio is 17.12%.

Chubb announced that its board has initiated a share repurchase program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have commented on CB. Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $321.00 to $298.00 in a research note on Monday, July 7th. Keefe, Bruyette & Woods upped their target price on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Jefferies Financial Group upped their target price on shares of Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Wells Fargo & Company lowered their target price on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research note on Thursday, July 24th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $283.00 target price (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Chubb presently has an average rating of "Hold" and an average target price of $301.50.

Insider Activity at Chubb

In other Chubb news, Director Michael Corbat bought 425 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average price of $269.80 per share, with a total value 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 trade represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John W. Keogh sold 85,083 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the transaction, the chief operating officer directly owned 237,728 shares of the company's stock, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,390 shares of company stock valued at $29,163,135. Corporate insiders own 0.77% of the company's stock.

About Chubb

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.

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