Chubb Limited $CB Shares Bought by Beacon Investment Advisory Services Inc.

Key Points

• Beacon Investment Advisory Services Inc. significantly increased its stake in Chubb Limited by 560.0% during the 2nd quarter, owning 28,202 shares valued at $8,171,000.
• Chubb's earnings report exceeded expectations with an EPS of $6.14 and revenue of $14.20 billion, a 6.3% increase year-over-year.
• The company announced a $0.97 quarterly dividend, representing an annualized dividend of $3.88 and a yield of 1.4%.

Beacon Investment Advisory Services Inc. raised its stake in Chubb Limited (NYSE:CB - Free Report) by 560.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,202 shares of the financial services provider's stock after acquiring an additional 23,929 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Chubb were worth $8,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in CB. Brighton Jones LLC raised its holdings in shares of Chubb by 12.8% in the fourth 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 during the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Chubb in the fourth quarter valued at about $205,000. Two Sigma Advisers LP raised its holdings in shares of Chubb by 83.8% in the fourth quarter. Two Sigma Advisers LP now owns 2,413 shares of the financial services provider's stock valued at $667,000 after buying an additional 1,100 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Chubb in the fourth quarter valued at about $89,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of Chubb in the fourth quarter valued at about $88,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of research reports. Piper Sandler reaffirmed a "neutral" rating and issued a $283.00 target price (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. Morgan Stanley cut their price target on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. UBS Group cut their price target on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Wolfe Research raised shares of Chubb to a "strong-buy" rating in a report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Chubb presently has a consensus rating of "Hold" and a consensus price target of $303.06.

Insider Activity at Chubb

In other Chubb news, Director Michael Corbat purchased 425 shares of the stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares of the company's stock, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were 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. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is owned by corporate insiders.

Chubb Trading Up 0.8%

Shares of Chubb stock opened at $278.22 on Thursday. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock has a market cap of $110.92 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 3.11 and a beta of 0.56. The company has a 50-day moving average of $273.63 and a two-hundred day moving average of $282.78.

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

Chubb Dividend Announcement

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

Chubb Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.