Elevation Point Wealth Partners LLC Boosts Holdings in Chubb Limited $CB

Key Points

• Elevation Point Wealth Partners increased its Chubb stake by 114.7% in the first quarter, ending with 5,611 shares valued at about $1.83 million.
• Chubb reported solid recent operating results, including $6.82 EPS and $14.93 billion in revenue for the quarter, while analysts currently rate the stock a Moderate Buy with an average target price of $350.24.
• The company raised its quarterly dividend to $1.02 per share from $0.97, and at the same time COO John W. Keogh sold 23,000 shares in a disclosed insider transaction.

Elevation Point Wealth Partners LLC raised its position in Chubb Limited (NYSE:CB - Free Report) by 114.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,611 shares of the financial services provider's stock after acquiring an additional 2,997 shares during the period. Elevation Point Wealth Partners LLC's holdings in Chubb were worth $1,833,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC boosted its holdings 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 valued at $26,000 after purchasing an additional 49 shares in the last quarter. Merkkuri Wealth Advisors LLC purchased a new position in shares of Chubb during the 1st quarter worth approximately $29,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Chubb in the 3rd quarter valued at approximately $31,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Chubb in the 4th quarter valued at approximately $31,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Chubb in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Price Performance

Shares of NYSE:CB opened at $360.89 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. The business's fifty day moving average price is $327.40 and its two-hundred day moving average price is $323.13. The stock has a market cap of $139.98 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.85 and a beta of 0.40. Chubb Limited has a one year low of $264.10 and a one year high of $361.33.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. The business had revenue of $14.93 billion for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. On average, analysts forecast that Chubb Limited will post 26.77 EPS for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Chubb's previous quarterly dividend of $0.97. Chubb's dividend payout ratio is currently 14.41%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CB shares. Weiss Ratings raised Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, June 29th. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $330.00 to $340.00 and gave the stock a "neutral" rating in a research report on Monday, April 20th. BMO Capital Markets upped their price target on shares of Chubb from $326.00 to $339.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. Mizuho cut their price target on shares of Chubb from $336.00 to $335.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Chubb from $304.00 to $330.00 and gave the company a "hold" rating in a research note on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $350.24.

Insider Activity

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction on Wednesday, May 27th. The stock was 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is owned by company insiders.

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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