Chubb Limited $CB Shares Bought by Avior Wealth Management LLC

Key Points

• Avior Wealth Management LLC significantly increased its stake in Chubb Limited by 609.0% in Q2, acquiring an additional 3,234 shares, bringing its total holdings to 3,765 shares worth approximately $1.09 million.
• Chubb reported better-than-expected quarterly earnings, with an EPS of $6.14, exceeding analysts' estimates of $5.84 and a revenue of $14.20 billion against a consensus estimate of $12.53 billion.
• The company's board member, Michael Corbat, purchased 425 shares at an average price of $269.80, increasing his stake in the company by approximately 20.99% to a total of 2,450 shares.

Avior Wealth Management LLC raised its stake in Chubb Limited (NYSE:CB - Free Report) by 609.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,765 shares of the financial services provider's stock after acquiring an additional 3,234 shares during the quarter. Avior Wealth Management LLC's holdings in Chubb were worth $1,091,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. E Fund Management Co. Ltd. increased its stake in Chubb by 3.9% in the first quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock valued at $291,000 after purchasing an additional 36 shares during the last quarter. Rise Advisors LLC increased its stake in Chubb by 4.6% in the first quarter. Rise Advisors LLC now owns 841 shares of the financial services provider's stock valued at $254,000 after purchasing an additional 37 shares during the last quarter. Sunflower Bank N.A. increased its stake in Chubb by 4.4% in the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock valued at $273,000 after purchasing an additional 38 shares during the last quarter. Avantax Planning Partners Inc. increased its stake in Chubb by 5.1% in the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock valued at $236,000 after purchasing an additional 38 shares during the last quarter. Finally, Sky Investment Group LLC increased its stake in Chubb by 1.6% in the second quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider's stock valued at $694,000 after purchasing an additional 38 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chubb

In other news, Director Michael Corbat acquired 425 shares of the business'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 purchase, the director directly owned 2,450 shares of the company's stock, valued at $661,010. This represents a 20.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.86% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CB shares. Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Wolfe Research raised Chubb to a "strong-buy" rating in a research report on Tuesday, September 16th. Citigroup started coverage on Chubb in a research report on Wednesday, August 13th. They set a "buy" rating and a $326.00 price target for the company. UBS Group lowered their price target on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Finally, Wells Fargo & Company decreased their target price 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. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $303.06.

Chubb Price Performance

Shares of NYSE CB opened at $279.41 on Tuesday. The company has a market capitalization of $111.40 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 3.17 and a beta of 0.56. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The business has a 50-day moving average of $273.94 and a 200-day moving average of $282.44.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.Chubb's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.38 earnings per share. On average, equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders 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 dividend payout ratio is presently 17.12%.

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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