Evexia Wealth LLC Trims Position in Chubb Limited $CB

Key Points

• Evexia Wealth LLC reduced its Chubb stake by 11.1% in the first quarter, selling 3,486 shares and ending with 27,798 shares valued at about $9.17 million.
• Analyst sentiment is mixed but mostly cautious: Chubb’s consensus rating remains “Hold,” with a consensus price target of $349.10 after recent target changes from several firms.
• Chubb boosted its quarterly dividend to $1.02 per share from $0.97, payable July 2, while reporting strong recent results including $6.82 in quarterly EPS and $14.93 billion in revenue.

Evexia Wealth LLC decreased its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 11.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,798 shares of the financial services provider's stock after selling 3,486 shares during the quarter. Chubb makes up 2.6% of Evexia Wealth LLC's portfolio, making the stock its 14th largest position. Evexia Wealth LLC's holdings in Chubb were worth $9,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of Chubb by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after purchasing an additional 221 shares during the period. Revolve Wealth Partners LLC bought a new position in Chubb in the fourth quarter worth approximately $205,000. Woodline Partners LP increased its holdings in Chubb by 13.0% during the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider's stock worth $3,805,000 after purchasing an additional 1,449 shares during the period. Sivia Capital Partners LLC increased its holdings in Chubb by 14.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider's stock worth $403,000 after purchasing an additional 175 shares during the period. Finally, Sei Investments Co. raised its position in Chubb by 9.3% during the 2nd quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider's stock valued at $58,305,000 after purchasing an additional 17,155 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on CB. Weiss Ratings cut Chubb from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, June 12th. Deutsche Bank Aktiengesellschaft raised their price target on Chubb from $304.00 to $330.00 and gave the company a "hold" rating in a research note on Monday, March 23rd. Cantor Fitzgerald restated a "neutral" rating and issued a $315.00 price objective on shares of Chubb in a report on Wednesday, April 22nd. Evercore lifted their price objective on Chubb from $347.00 to $349.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Chubb from $330.00 to $340.00 and gave the stock a "neutral" rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine 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 stock currently has a consensus rating of "Hold" and a consensus target price of $349.10.

Insiders Place Their Bets

In related news, COO John W. Keogh sold 23,000 shares of the firm'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 sale, the chief operating officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is currently owned by insiders.

Chubb Stock Up 0.1%

Chubb stock opened at $323.88 on Monday. The business has a fifty day moving average of $324.70 and a two-hundred day moving average of $320.15. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. The firm has a market cap of $125.62 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.65 and a beta of 0.41. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The business had revenue of $14.93 billion for the quarter. On average, analysts forecast that Chubb Limited will post 26.8 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be paid a dividend of $1.02 per share. This is an increase from Chubb's previous quarterly dividend of $0.97. The ex-dividend date is Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.3%. Chubb's dividend payout ratio (DPR) is currently 14.41%.

About Chubb

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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