Forvis Mazars Wealth Advisors LLC Purchases New Position in Chubb Limited $CB

Key Points

• Forvis Mazars Wealth Advisors LLC has acquired a new stake in Chubb Limited, purchasing 1,439 shares valued at approximately $417,000 during the second quarter.
• Chubb reported strong quarterly earnings of $6.14 per share, beating estimates and achieving a revenue of $14.20 billion, which was significantly higher than expected.
• The company declared a quarterly dividend of $0.97 per share, yielding 1.4%, with an ex-dividend date of September 12th.

Forvis Mazars Wealth Advisors LLC purchased a new stake in shares of Chubb Limited (NYSE:CB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,439 shares of the financial services provider's stock, valued at approximately $417,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. E Fund Management Co. Ltd. boosted its stake in Chubb by 3.9% during the first quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock worth $291,000 after acquiring an additional 36 shares in the last quarter. Rise Advisors LLC boosted its stake in Chubb by 4.6% during the first quarter. Rise Advisors LLC now owns 841 shares of the financial services provider's stock worth $254,000 after acquiring an additional 37 shares in the last quarter. Avantax Planning Partners Inc. boosted its stake in Chubb by 5.1% during the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock worth $236,000 after acquiring an additional 38 shares in the last quarter. Sky Investment Group LLC boosted its stake in Chubb by 1.6% during the second quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider's stock worth $694,000 after acquiring an additional 38 shares in the last quarter. Finally, Lincoln Capital LLC boosted its stake in Chubb by 0.6% during the first quarter. Lincoln Capital LLC now owns 6,962 shares of the financial services provider's stock worth $2,022,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Trading Down 0.0%

Shares of NYSE CB opened at $268.16 on Tuesday. The firm's 50 day moving average price is $277.34 and its 200-day moving average price is $280.85. The company has a market cap of $106.91 billion, a PE ratio of 11.83, a P/E/G ratio of 3.02 and a beta of 0.54. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share 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 firm 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 company earned $5.38 earnings per share. The firm's quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

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

Insider Buying and Selling at Chubb

In related news, Director Michael Corbat acquired 425 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares of the company's stock, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.86% of the stock is owned by insiders.

Analyst Ratings Changes

CB has been the topic of several research reports. The Goldman Sachs Group boosted their price objective on shares of Chubb from $299.00 to $303.00 and gave the stock a "neutral" rating in a research note on Monday, October 6th. Morgan Stanley dropped their price objective on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. Keefe, Bruyette & Woods upped their target price on shares of Chubb from $324.00 to $333.00 and gave the stock an "outperform" rating in a research note on Monday, October 6th. Citigroup initiated coverage on shares of Chubb in a research note on Wednesday, August 13th. They issued a "buy" rating and a $326.00 target price on the stock. Finally, Bank of America upped their target price on shares of Chubb from $276.00 to $279.00 and gave the stock an "underperform" rating in a research note on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $305.28.

Chubb Company Profile

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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