Chubb Limited $CB Shares Purchased by Cove Private Wealth LLC

Key Points

• Cove Private Wealth LLC increased its stake in Chubb Limited by 106.2%, owning 2,336 shares valued at $677,000 after purchasing an additional 1,203 shares in the second quarter.
• Chubb recently declared a quarterly dividend of $0.97, representing an annual yield of 1.4%, with the ex-dividend date set for September 12th.
• The company's latest earnings report showed a 6.3% year-over-year revenue increase, achieving $14.20 billion against analyst expectations of $12.53 billion.

Cove Private Wealth LLC increased its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 106.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,336 shares of the financial services provider's stock after purchasing an additional 1,203 shares during the quarter. Cove Private Wealth LLC's holdings in Chubb were worth $677,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CB. Peoples Bank KS purchased a new stake in Chubb during the first quarter worth $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Chubb during the first quarter valued at approximately $25,000. North Capital Inc. acquired a new stake in shares of Chubb during the first quarter worth $26,000. IMA Advisory Services Inc. acquired a new stake in Chubb in the 1st quarter worth about $31,000. Finally, 1248 Management LLC purchased a new stake in Chubb in the first quarter valued at approximately $31,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CB has been the subject of a number of research analyst reports. Piper Sandler reissued a "neutral" rating and set a $283.00 target price (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Hsbc Global Res lowered Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Morgan Stanley reduced their target price on Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. UBS Group decreased their target price on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Finally, Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $321.00 to $298.00 in a research report on Monday, July 7th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $303.06.

Insider Activity

In related news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the insider owned 91,180 shares of the company's stock, valued at $26,447,670.80. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by corporate insiders.

Chubb Stock Up 0.9%

CB opened at $280.77 on Friday. 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 company has a market capitalization of $111.94 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 3.14 and a beta of 0.56. The business has a 50-day moving average of $273.84 and a 200-day moving average of $282.60. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91.

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

Chubb Dividend Announcement

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