Chubb Limited $CB Stake Boosted by Delta Capital Management LLC

Key Points

• Delta Capital Management increased its Chubb stake by 22.9% in the third quarter, bringing its holdings to 14,945 shares valued at approximately $4.86 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly earnings of $7.26 per share, exceeding analyst expectations of $6.77, while revenue rose 3.6% year over year. The company also maintains a $1.02 quarterly dividend, equivalent to a 1.1% yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $358.36, near the stock’s reported opening price of $359.51.

Delta Capital Management LLC increased its holdings in Chubb Limited (NYSE:CB - Free Report) by 22.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,945 shares of the financial services provider's stock after buying an additional 2,785 shares during the quarter. Chubb accounts for about 1.5% of Delta Capital Management LLC's investment portfolio, making the stock its 9th largest position. Delta Capital Management LLC's holdings in Chubb were worth $4,861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. XXEC Inc. bought a new stake in shares of Chubb during the 2nd quarter valued at $228,226,000. Berkshire Hathaway Inc purchased a new stake in shares of Chubb in the 2nd quarter worth $11,670,067,000. BlackRock Inc. purchased a new stake in shares of Chubb in the 2nd quarter worth $9,913,336,000. GQG Partners LLC bought a new position in Chubb in the 2nd quarter worth $4,250,113,000. Finally, Bank of America Corp DE raised its holdings in Chubb by 3.1% in the 1st quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider's stock worth $1,599,868,000 after purchasing an additional 147,876 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Michael P. Connors sold 5,500 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the sale, the director owned 12,803 shares in the company, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph Wayland sold 8,502 shares of Chubb stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by insiders.

Chubb Stock Performance

Shares of NYSE CB opened at $359.51 on Friday. The stock has a market cap of $138.70 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.57 and a beta of 0.36. Chubb Limited has a 1 year low of $266.40 and a 1 year high of $365.91. The firm has a fifty day moving average price of $340.44 and a 200-day moving average price of $336.38. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating analysts' consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion for the quarter, compared to analysts' expectations of $15.07 billion. During the same quarter in the previous year, the company earned $6.14 EPS. Chubb's revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts anticipate that Chubb Limited will post 27.72 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Barclays set a $387.00 target price on Chubb in a research report on Tuesday, July 7th. UBS Group upped their price target on Chubb from $340.00 to $369.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Atlantic Securities set a $301.00 price target on Chubb in a research report on Wednesday, July 15th. Wells Fargo & Company decreased their price objective on Chubb from $356.00 to $343.00 and set an "equal weight" rating on the stock in a research note on Monday, October 12th. Finally, Piper Sandler lifted their price objective on Chubb from $340.00 to $374.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $358.36.

About Chubb

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.