Demars Financial Group LLC Cuts Stock Position in Chubb Limited $CB

Key Points

• Demars Financial Group LLC significantly reduced its stake in Chubb Limited by 99.9%, holding only 5,909 shares after selling over 6.2 million shares during the second quarter.
• Chubb reported a quarterly EPS of $6.14, surpassing analysts’ expectations and reflecting a 6.3% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.97 per share, representing an annualized payout of $3.88 and a yield of 1.4%.

Demars Financial Group LLC lowered its position in Chubb Limited (NYSE:CB - Free Report) by 99.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,909 shares of the financial services provider's stock after selling 6,232,723 shares during the period. Chubb makes up about 0.7% of Demars Financial Group LLC's portfolio, making the stock its 18th largest position. Demars Financial Group LLC's holdings in Chubb were worth $1,712,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CB. North Capital Inc. purchased a new position in shares of Chubb in the 1st quarter worth approximately $26,000. IMA Advisory Services Inc. purchased a new position in shares of Chubb in the 1st quarter worth approximately $31,000. 1248 Management LLC purchased a new position in shares of Chubb in the 1st quarter worth approximately $31,000. WPG Advisers LLC purchased a new position in shares of Chubb in the 1st quarter worth approximately $33,000. Finally, Maseco LLP purchased a new position in shares of Chubb in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Stock Performance

Shares of NYSE CB opened at $268.15 on Monday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a 50 day simple moving average of $277.40 and a two-hundred day simple moving average of $280.94. The stock has a market cap of $106.91 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 3.02 and a beta of 0.54.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. During the same period in the previous year, the business posted $5.38 EPS. The business's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb's payout ratio is presently 17.12%.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on shares of Chubb from $295.00 to $297.00 and gave the stock a "hold" rating in a research report on Tuesday, October 7th. Wells Fargo & Company boosted their target price on shares of Chubb from $267.00 to $277.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 8th. Morgan Stanley dropped their target price on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Piper Sandler reissued a "neutral" rating and set a $283.00 target price (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Finally, Evercore ISI boosted their target price on shares of Chubb from $312.00 to $315.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $305.28.

Insider Buying and Selling

In other Chubb news, Director Michael Corbat acquired 425 shares of the firm's stock in a transaction on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the purchase, the director owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.86% of the company's stock.

About Chubb

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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