Cumberland Partners Ltd Invests $1.63 Million in Chubb Limited $CB

Key Points

• Cumberland Partners Ltd opened a new stake in Chubb, buying 5,000 shares worth about $1.63 million in the first quarter.
• Chubb’s latest quarterly results beat expectations, with EPS of $7.26 versus $6.77 expected and revenue of $16.01 billion, up 3.6% year over year.
• The company also raised its quarterly dividend to $1.02 per share, while Wall Street’s overall view remains Hold with an average target price of $360.09.

Cumberland Partners Ltd bought a new position in shares of Chubb Limited (NYSE:CB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the financial services provider's stock, valued at approximately $1,630,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CBIZ Investment Advisory Services LLC boosted its stake in Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock worth $26,000 after purchasing an additional 49 shares during the period. Frazier Financial Advisors LLC raised its position in shares of Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after buying an additional 38 shares during the last quarter. Merkkuri Wealth Advisors LLC purchased a new position in shares of Chubb in the first quarter worth $29,000. Laurel Wealth Advisors LLC purchased a new position in shares of Chubb in the fourth quarter worth $31,000. Finally, Ares Financial Consulting LLC bought a new position in shares of Chubb during the fourth quarter worth $32,000. Institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CB. Cantor Fitzgerald raised their target price on shares of Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Jefferies Financial Group decreased their price target on shares of Chubb from $356.00 to $352.00 and set a "hold" rating on the stock in a research note on Thursday, April 23rd. Morgan Stanley raised their price objective on Chubb from $330.00 to $340.00 and gave the company an "equal weight" rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods raised their price objective on Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Finally, Piper Sandler lifted their target price on Chubb from $340.00 to $374.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $360.09.

Chubb Price Performance

CB stock opened at $359.78 on Friday. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $365.29. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $335.55 and a two-hundred day simple moving average of $327.09. The firm has a market capitalization of $139.55 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 1.77 and a beta of 0.40.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping 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 business had revenue of $16.01 billion during the quarter, compared to analysts' expectations of $15.07 billion. During the same period last year, the company posted $6.14 EPS. The business's revenue was up 3.6% on a year-over-year basis. Analysts anticipate that Chubb Limited will post 27.08 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were given a $1.02 dividend. This is an increase from Chubb's previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, June 12th. Chubb's dividend payout ratio (DPR) is 14.43%.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares of the company's stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.37% of the company's stock.

Chubb Company Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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