Denali Advisors LLC Takes Position in Chubb Limited $CB

Key Points

• Denali Advisors initiated a new Chubb position, purchasing 3,000 shares valued at approximately $1.02 million. Institutional investors collectively own 83.81% of Chubb’s outstanding stock.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $361. Several firms raised their targets, while Wells Fargo maintained an equal-weight rating and slightly reduced its target.
• Chubb reported quarterly EPS of $7.26, exceeding the $6.77 consensus estimate, while revenue rose 3.6% year over year. The company also declared a quarterly dividend of $1.02 per share, representing a 1.2% annualized yield.

Denali Advisors LLC bought a new stake in shares of Chubb Limited (NYSE:CB - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,000 shares of the financial services provider's stock, valued at approximately $1,022,000.

Several other hedge funds and other institutional investors have also modified their holdings of CB. Cherry Tree Wealth Management LLC increased its stake in Chubb by 38.3% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 31 shares during the period. Phillips Wealth Planners LLC lifted its stake in Chubb by 1.8% during the fourth quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider's stock worth $521,000 after purchasing an additional 31 shares during the period. Hoxton Planning & Management LLC boosted its holdings in Chubb by 4.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider's stock valued at $233,000 after purchasing an additional 31 shares in the last quarter. G&S Capital LLC boosted its holdings in Chubb by 1.5% during the fourth quarter. G&S Capital LLC now owns 2,271 shares of the financial services provider's stock valued at $709,000 after purchasing an additional 34 shares in the last quarter. Finally, South Plains Financial Inc. grew its stake in shares of Chubb by 2.2% in the 4th quarter. South Plains Financial Inc. now owns 1,601 shares of the financial services provider's stock valued at $500,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on CB shares. Wells Fargo & Company cut their target price on Chubb from $358.00 to $356.00 and set an "equal weight" rating for the company in a research report on Thursday, July 23rd. Citigroup reiterated a "market outperform" rating on shares of Chubb in a research note on Wednesday, July 22nd. The Goldman Sachs Group lifted their price objective on Chubb from $362.00 to $386.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Morgan Stanley boosted their target price on shares of Chubb from $340.00 to $360.00 and gave the company an "equal weight" rating in a research note on Wednesday. Finally, 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. Two 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 assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $361.00.

Chubb Stock Up 0.6%

Shares of NYSE:CB opened at $342.98 on Friday. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The company's 50-day moving average price is $345.61 and its two-hundred day moving average price is $333.25. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The firm has a market cap of $132.32 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.68 and a beta of 0.39.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share 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 company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same period in the previous year, the firm posted $6.14 earnings per share. The company's revenue was up 3.6% on a year-over-year basis. As a group, research analysts forecast that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb's dividend payout ratio is currently 14.43%.

Insiders Place Their Bets

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value 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 $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by company insiders.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source