Deane Retirement Strategies Inc. Takes Position in Chubb Limited $CB

Key Points

• Deane Retirement Strategies acquired 11,516 Chubb shares worth approximately $3.93 million, making CB a 1.7% portfolio holding; institutional investors collectively own 83.81% of the company.
• Analysts maintain a generally positive outlook, with an average rating of “Hold” and a consensus price target of $360.09. Recent targets range from $340 to $400.
• Chubb exceeded quarterly earnings expectations with EPS of $7.26 versus $6.77 estimated, while revenue rose 3.6% year over year; the company also increased its quarterly dividend to $1.02 per share.

Deane Retirement Strategies Inc. bought a new stake in shares of Chubb Limited (NYSE:CB - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 11,516 shares of the financial services provider's stock, valued at approximately $3,925,000. Chubb makes up 1.7% of Deane Retirement Strategies Inc.'s portfolio, making the stock its 28th largest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CB. CBIZ Investment Advisory Services LLC lifted its stake in Chubb by 148.5% during the fourth 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 grew its stake in shares of Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 38 shares during the period. Merkkuri Wealth Advisors LLC acquired a new position in shares of Chubb in the 1st quarter worth approximately $29,000. Laurel Wealth Advisors LLC acquired a new position in shares of Chubb in the 4th quarter worth approximately $31,000. Finally, Ares Financial Consulting LLC bought a new position in shares of Chubb during the 4th quarter worth approximately $32,000. Institutional investors own 83.81% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CB shares. The Goldman Sachs Group increased their price objective on Chubb from $362.00 to $386.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Citizens Jmp restated a "market outperform" rating and issued a $400.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. UBS Group upped their target price on shares of Chubb from $340.00 to $369.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Evercore reiterated an "outperform" rating and set a $374.00 target price on shares of Chubb in a research report on Friday, July 10th. Finally, Morgan Stanley lifted their price target on shares of Chubb from $330.00 to $340.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $360.09.

Insider Buying and Selling at Chubb

In other Chubb news, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief operating officer directly owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company's stock.

Chubb Trading Down 0.0%

Shares of NYSE CB opened at $350.17 on Monday. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91. The company has a 50-day moving average of $341.33 and a two-hundred day moving average of $330.64. The company has a market cap of $135.10 billion, a PE ratio of 12.39, a P/E/G ratio of 1.73 and a beta of 0.39. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly 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 business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. During the same quarter last year, the business posted $6.14 earnings per share. Chubb's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts expect that Chubb Limited will post 27.45 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. This is a boost from Chubb's previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, June 12th. Chubb's payout ratio is currently 14.43%.

Chubb 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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