Brooks Moore & Associates Inc. Makes New $2.74 Million Investment in Chubb Limited $CB

Key Points

• Brooks Moore & Associates acquired 8,030 Chubb shares worth approximately $2.74 million in the second quarter, making Chubb 1.2% of its portfolio. Institutional investors collectively own 83.81% of the company.
• Chubb exceeded quarterly earnings expectations, reporting $7.26 EPS versus the $6.77 consensus estimate, while revenue rose 3.6% year over year to $11.97 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $361, while Chubb announced a quarterly dividend of $1.02, equivalent to a 1.2% annual yield.

Brooks Moore & Associates Inc. bought a new stake in shares of Chubb Limited (NYSE:CB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 8,030 shares of the financial services provider's stock, valued at approximately $2,736,000. Chubb comprises approximately 1.2% of Brooks Moore & Associates Inc.'s portfolio, making the stock its 27th largest holding.

A number of other large investors also recently made changes to their positions in CB. Dunhill Financial LLC acquired a new position in Chubb in the second quarter valued at about $25,000. IMG Wealth Management Inc. bought a new position in Chubb during the second quarter worth about $25,000. CBIZ Investment Advisory Services LLC grew its position in shares of Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock worth $26,000 after buying an additional 49 shares during the period. Parvin Asset Management LLC acquired a new position in shares of Chubb during the 2nd quarter worth about $26,000. Finally, Frazier Financial Advisors LLC increased its stake in shares of Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 38 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Transactions at Chubb

In other news, EVP Joseph F. Wayland sold 8,502 shares of the business's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael P. Connors sold 5,500 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director owned 12,803 shares in the company, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Cantor Fitzgerald increased their price target on shares of Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and boosted their price objective for the company from $370.00 to $373.00 in a report on Monday, July 6th. Piper Sandler upped their target price on shares of Chubb from $340.00 to $374.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. UBS Group increased their target price on shares of Chubb from $340.00 to $369.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Finally, Mizuho boosted their price target on shares of Chubb from $335.00 to $352.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $361.00.

Chubb Stock Performance

Shares of CB opened at $338.19 on Friday. The firm has a market cap of $130.47 billion, a P/E ratio of 11.96, a PEG ratio of 1.67 and a beta of 0.39. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The firm's 50 day moving average price is $347.13 and its two-hundred day moving average price is $333.92.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the prior year, the firm earned $6.14 earnings per share. The firm's revenue was up 3.6% compared to the same quarter last year. On average, analysts forecast that Chubb Limited will post 27.49 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb's dividend payout ratio is presently 14.43%.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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