Empowered Funds LLC Boosts Position in Chubb Limited $CB

Key Points

• Empowered Funds LLC increased its stake in Chubb Limited by 18.3% during Q1, owning 14,786 shares valued at approximately $4.47 million.
• Chubb reported an earnings per share (EPS) of $6.14 for the last quarter, surpassing estimates of $5.84 and achieving a net margin of 16.08%.
• The company has declared a quarterly dividend of $0.97 per share, with an annualized dividend yield of 1.4%, to be paid on October 3rd.

Empowered Funds LLC grew its stake in Chubb Limited (NYSE:CB - Free Report) by 18.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,786 shares of the financial services provider's stock after acquiring an additional 2,285 shares during the quarter. Empowered Funds LLC's holdings in Chubb were worth $4,465,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GQG Partners LLC increased its position in shares of Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock worth $2,836,899,000 after purchasing an additional 4,964,298 shares during the last quarter. Demars Financial Group LLC increased its position in shares of Chubb by 16.4% during the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock worth $1,884,004,000 after purchasing an additional 878,177 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Chubb by 6.9% during the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider's stock worth $1,418,398,000 after purchasing an additional 304,751 shares during the last quarter. Royal Bank of Canada increased its position in shares of Chubb by 46.7% during the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock worth $1,217,392,000 after purchasing an additional 1,403,545 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Chubb by 15.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider's stock worth $760,853,000 after purchasing an additional 366,559 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research report on Thursday, July 24th. Hsbc Global Res cut Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Evercore ISI set a $312.00 target price on Chubb in a report on Wednesday, July 23rd. UBS Group lowered their target price on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Finally, Barclays cut 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 report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $302.00.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 5,513 shares of the business'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 transaction of $1,599,100.78. Following the completion of the sale, the insider owned 91,180 shares in the company, valued at $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Corbat bought 425 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the purchase, the director owned 2,450 shares of the company's stock, valued at $661,010. The trade was a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.86% of the stock is owned by insiders.

Chubb Stock Down 1.7%

Shares of CB traded down $4.87 during midday trading on Friday, hitting $278.02. The company had a trading volume of 2,115,158 shares, compared to its average volume of 1,651,878. The company's 50-day simple moving average is $274.38 and its 200-day simple moving average is $283.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $110.84 billion, a P/E ratio of 12.90, a P/E/G ratio of 3.14 and a beta of 0.56. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.84 by $0.30. The business had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $5.38 EPS. As a group, sell-side analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

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

Chubb Profile

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.