Castlekeep Investment Advisors LLC Invests $1.05 Million in Chubb Limited $CB

Key Points

• Castlekeep Investment Advisors acquired 3,078 Chubb shares worth approximately $1.05 million in the second quarter. Institutional investors collectively own 83.81% of the company.
• Chubb reported quarterly EPS of $7.26, exceeding analyst expectations of $6.77, while revenue rose 3.6% year over year to $11.97 billion.
• Chubb declared a quarterly dividend of $1.02 per share, or $4.08 annualized, representing a 1.2% yield. Analysts maintain a consensus “Hold” rating with a $361 price target.

Castlekeep Investment Advisors LLC acquired a new stake in Chubb Limited (NYSE:CB - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 3,078 shares of the financial services provider's stock, valued at approximately $1,049,000.

A number of other large investors have also bought and sold shares of the business. Legal & General Group Plc bought a new position in Chubb in the second quarter valued at approximately $843,488,000. The Manufacturers Life Insurance Company bought a new stake in shares of Chubb during the second quarter worth $212,753,000. Jones Financial Companies Lllp bought a new stake in shares of Chubb during the second quarter worth $373,000. Sone Capital Management LLC acquired a new stake in shares of Chubb during the second quarter worth $10,452,000. Finally, Trajan Wealth LLC bought a new stake in Chubb in the 2nd quarter valued at $8,678,000. 83.81% of the stock is owned by institutional investors.

Insider Activity at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this link. Also, Director Michael P. Connors sold 5,500 shares of the firm's stock in a transaction on 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 directly owned 12,803 shares in the company, valued at approximately $4,417,035. This represents a 30.05% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is currently owned by insiders.

Chubb Trading Down 0.8%

Shares of NYSE:CB opened at $342.90 on Wednesday. The business's 50 day simple moving average is $346.53 and its 200 day simple moving average is $333.79. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $132.29 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.68 and a beta of 0.39.

Chubb (NYSE:CB - Get Free Report) last released its earnings results 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. The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb's quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $6.14 EPS. On average, research analysts anticipate that Chubb Limited will post 27.49 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb's dividend payout ratio (DPR) is currently 14.43%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CB. Piper Sandler lifted their target price on Chubb from $340.00 to $374.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Barclays set a $387.00 price target on shares of Chubb in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $354.00 price objective on shares of Chubb in a report on Wednesday, July 22nd. Weiss Ratings raised shares of Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, June 29th. Finally, Wells Fargo & Company cut their price objective on Chubb from $358.00 to $356.00 and set an "equal weight" rating for the company in a report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $361.00.

Chubb Profile

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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