Dakota Wealth Management Raises Holdings in Chubb Limited $CB

Key Points

• Dakota Wealth Management increased its stake in Chubb Limited by 14.8% in Q2, owning 31,643 shares valued at approximately $9.17 million.
• Chubb reported earnings of $6.14 per share for the last quarter, exceeding analyst estimates, with a revenue of $14.20 billion, a 6.3% increase year-over-year.
• The company declared a quarterly dividend of $0.97 per share, translating to an annualized dividend yield of 1.4%, payable on October 3rd.

Dakota Wealth Management boosted its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 14.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,643 shares of the financial services provider's stock after acquiring an additional 4,085 shares during the quarter. Dakota Wealth Management's holdings in Chubb were worth $9,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. boosted its holdings in Chubb by 3.9% in the first quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock valued at $291,000 after acquiring an additional 36 shares in the last quarter. Rise Advisors LLC lifted its holdings in Chubb by 4.6% in the first quarter. Rise Advisors LLC now owns 841 shares of the financial services provider's stock worth $254,000 after buying an additional 37 shares during the period. Sunflower Bank N.A. lifted its holdings in Chubb by 4.4% in the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock worth $273,000 after buying an additional 38 shares during the period. Avantax Planning Partners Inc. lifted its holdings in Chubb by 5.1% in the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock worth $236,000 after buying an additional 38 shares during the period. Finally, Sky Investment Group LLC lifted its holdings in Chubb by 1.6% in the second quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider's stock worth $694,000 after buying an additional 38 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Price Performance

NYSE CB opened at $278.22 on Thursday. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a 50-day moving average price of $273.63 and a 200-day moving average price of $282.78. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $110.92 billion, a P/E ratio of 12.27, a PEG ratio of 3.11 and a beta of 0.56.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the previous year, the firm posted $5.38 EPS. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

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

Insider Buying and Selling at Chubb

In other news, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction 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 sale, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This trade represents a 5.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Corbat bought 425 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the transaction, the director directly owned 2,450 shares of the company's stock, valued at $661,010. This represents a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.77% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CB has been the subject of a number of research reports. Evercore ISI set a $312.00 price objective on Chubb in a report on Wednesday, July 23rd. Cantor Fitzgerald raised Chubb to a "hold" rating in a report on Wednesday, August 13th. HSBC downgraded Chubb from a "buy" rating to a "hold" rating and dropped their target price for the stock from $317.00 to $300.00 in a report on Friday, August 1st. Morgan Stanley decreased their target price 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. Finally, Wells Fargo & Company decreased their target price on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a report on Thursday, July 24th. Two investment 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $303.06.

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.

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