Cetera Investment Advisers Purchases 11,224 Shares of Chubb Limited $CB

Key Points

• Cetera Investment Advisers increased its Chubb stake by 6.9% in the first quarter, buying 11,224 additional shares and bringing its total holding to 174,763 shares valued at about $56.96 million.
• Chubb posted stronger-than-expected quarterly results, reporting EPS of $7.26 versus estimates of $6.77 and revenue of $16.01 billion versus expectations of $15.07 billion. Revenue rose 3.6% year over year.
• The company raised its dividend to $1.02 per quarter from $0.97, implying an annualized dividend of $4.08 and a yield of about 1.1%.

Cetera Investment Advisers boosted its position in Chubb Limited (NYSE:CB - Free Report) by 6.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 174,763 shares of the financial services provider's stock after purchasing an additional 11,224 shares during the quarter. Cetera Investment Advisers' holdings in Chubb were worth $56,961,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CB. Brighton Jones LLC increased its position in Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after buying an additional 221 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Chubb in the fourth quarter worth $205,000. Woodline Partners LP increased its holdings in shares of Chubb by 13.0% during the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider's stock valued at $3,805,000 after acquiring an additional 1,449 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Chubb by 14.4% in the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider's stock worth $403,000 after buying an additional 175 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Chubb by 9.3% during the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider's stock valued at $58,305,000 after acquiring an additional 17,155 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CB shares. Mizuho upped their price objective on Chubb from $335.00 to $352.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Citigroup reiterated a "market outperform" rating on shares of Chubb in a research note on Wednesday. Evercore reissued an "outperform" rating and set a $374.00 price target on shares of Chubb in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $354.00 target price on shares of Chubb in a research report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Chubb currently has an average rating of "Hold" and a consensus price target of $360.09.

Insider Activity

In other news, COO John W. Keogh sold 23,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the transaction, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by company insiders.

Chubb Price Performance

Shares of Chubb stock opened at $359.78 on Friday. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $365.29. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $139.55 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.77 and a beta of 0.40. The stock's 50-day simple moving average is $335.55 and its 200-day simple moving average is $327.09.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. The firm had revenue of $16.01 billion for the quarter, compared to analysts' expectations of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $6.14 earnings per share. As a group, analysts expect that Chubb Limited will post 27.08 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. This is a positive change from Chubb's previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, June 12th. Chubb's 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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