Brooks Moore & Associates Inc. Raises Stock Position in Chubb Limited $CB

Key Points

• Brooks Moore & Associates Inc. increased its stake in Chubb Limited by 56% in the first quarter, now holding 8,027 shares valued at approximately $2.42 million.
• Chubb's recent earnings report revealed an EPS of $6.14, exceeding expectations, with revenue hitting $14.20 billion, up 6.3% from the previous year.
• The company announced a quarterly dividend of $0.97 per share, scheduled for payment on October 3rd, with a current dividend yield of 1.4%.

Brooks Moore & Associates Inc. grew its stake in Chubb Limited (NYSE:CB - Free Report) by 56.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,027 shares of the financial services provider's stock after buying an additional 2,882 shares during the period. Chubb accounts for 1.4% of Brooks Moore & Associates Inc.'s investment portfolio, making the stock its 28th largest holding. Brooks Moore & Associates Inc.'s holdings in Chubb were worth $2,424,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Peoples Bank KS acquired a new position in Chubb in the first quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Chubb in the 1st quarter valued at about $25,000. North Capital Inc. acquired a new stake in shares of Chubb in the 1st quarter valued at about $26,000. IMA Advisory Services Inc. acquired a new stake in shares of Chubb in the 1st quarter valued at about $31,000. Finally, Cherry Tree Wealth Management LLC grew its stake in Chubb by 56.6% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock worth $36,000 after buying an additional 43 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CB has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a report on Thursday, July 24th. Cantor Fitzgerald upgraded shares of Chubb to a "hold" rating in a research note on Wednesday, August 13th. Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. UBS Group dropped their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Finally, Piper Sandler reiterated a "neutral" rating and set a $283.00 target price (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $302.00.

Insider Activity

In related news, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael Corbat bought 425 shares of the firm's stock in a transaction on Friday, July 25th. The shares were purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares of the company's stock, valued at $661,010. This represents a 20.99% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.77% of the company's stock.

Chubb Trading Down 0.5%

Shares of Chubb stock opened at $277.3750 on Monday. The firm has a market cap of $110.59 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 3.13 and a beta of 0.53. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The company's 50-day simple moving average is $276.76 and its 200-day simple moving average is $282.66. 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 (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $12.53 billion. During the same period last year, the firm earned $5.38 EPS. The company's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

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

Chubb declared that its Board of Directors has initiated a share repurchase 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 buy up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

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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