Chubb Limited $CB Shares Purchased by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth increased its Chubb stake by 696.1% in the third quarter, bringing its holdings to 9,291 shares valued at approximately $3.03 million. Institutional investors and hedge funds collectively own 83.81% of Chubb.
• Chubb shares opened at $359.51, near their 52-week high of $365.91, while the company reported quarterly EPS of $7.26—above the $6.77 consensus estimate. Analysts maintain a consensus “Hold” rating with a $358.36 price target.
• Chubb paid a quarterly dividend of $1.02 per share, equivalent to an annualized dividend of $4.08 and a 1.1% yield. Two company insiders recently sold shares, while insider ownership stands at just 0.37%.

SteelPeak Wealth LLC grew its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 696.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,291 shares of the financial services provider's stock after buying an additional 8,124 shares during the quarter. SteelPeak Wealth LLC's holdings in Chubb were worth $3,031,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CB. Janney Montgomery Scott LLC lifted its stake in Chubb by 1.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider's stock valued at $102,959,000 after acquiring an additional 5,225 shares in the last quarter. Equitable Holdings Inc. bought a new stake in shares of Chubb in the 2nd quarter worth $4,139,000. Berkshire Hathaway Inc bought a new stake in shares of Chubb in the 2nd quarter worth $11,670,067,000. XXEC Inc. purchased a new stake in shares of Chubb in the second quarter valued at about $26,210,000. Finally, Douglas Lane & Associates LLC raised its holdings in shares of Chubb by 2,748.0% in the third quarter. Douglas Lane & Associates LLC now owns 467,591 shares of the financial services provider's stock valued at $152,084,000 after purchasing an additional 451,173 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Stock Performance

NYSE:CB opened at $359.51 on Monday. Chubb Limited has a 52-week low of $266.40 and a 52-week high of $365.91. The firm has a market cap of $138.70 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.57 and a beta of 0.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The business's fifty day moving average is $340.44 and its 200 day moving average is $336.46.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $6.14 EPS. Research analysts predict that Chubb Limited will post 27.72 EPS for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.1%. Chubb's dividend payout ratio (DPR) is currently 14.43%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CB. Keefe, Bruyette & Woods dropped their price target on shares of Chubb from $389.00 to $387.00 and set an "outperform" rating on the stock in a research report on Monday, October 12th. Atlantic Securities set a $301.00 target price on shares of Chubb in a research report on Wednesday, July 15th. Cantor Fitzgerald boosted their target price on Chubb from $330.00 to $333.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 7th. The Goldman Sachs Group upped their target price on Chubb from $362.00 to $386.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Chubb in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chubb has an average rating of "Hold" and a consensus target price of $358.36.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Joseph Wayland sold 8,502 shares of the company's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This represents a 20.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael P. Connors sold 5,500 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares in the company, valued at approximately $4,417,035. The trade was a 30.05% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by company insiders.

Chubb Company Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers' compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.

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