GAMMA Investing LLC Buys 1,394 Shares of Chubb Limited $CB

Key Points

• GAMMA Investing LLC increased its stake in Chubb Limited by 20.2% during the second quarter, acquiring an additional 1,394 shares, bringing its total holdings to 8,295 shares worth approximately $2,403,000.
• Chubb reported a $6.14 earnings per share (EPS) for the latest quarter, exceeding analysts' expectations of $5.84, with a 6.3% year-over-year revenue increase to $14.20 billion.
• The company declared a quarterly dividend of $0.97, set to be paid on October 3rd, with a current annualized yield of 1.4% and a payout ratio of 17.12%.

GAMMA Investing LLC increased its stake in Chubb Limited (NYSE:CB - Free Report) by 20.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,295 shares of the financial services provider's stock after buying an additional 1,394 shares during the quarter. GAMMA Investing LLC's holdings in Chubb were worth $2,403,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CB. Clear Harbor Asset Management LLC increased its stake in Chubb by 0.6% in the second quarter. Clear Harbor Asset Management LLC now owns 6,933 shares of the financial services provider's stock worth $2,009,000 after purchasing an additional 41 shares during the period. Pacifica Partners Inc. increased its stake in Chubb by 4.7% in the second quarter. Pacifica Partners Inc. now owns 890 shares of the financial services provider's stock worth $254,000 after purchasing an additional 40 shares during the period. Park Avenue Securities LLC increased its stake in Chubb by 18.3% in the second quarter. Park Avenue Securities LLC now owns 28,276 shares of the financial services provider's stock worth $8,192,000 after purchasing an additional 4,371 shares during the period. Mitchell & Pahl Private Wealth LLC increased its stake in Chubb by 2.6% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 7,346 shares of the financial services provider's stock worth $2,128,000 after purchasing an additional 183 shares during the period. Finally, Lincoln Capital LLC increased its stake in Chubb by 35.7% in the second quarter. Lincoln Capital LLC now owns 9,446 shares of the financial services provider's stock worth $2,736,000 after purchasing an additional 2,484 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Trading Down 0.1%

Chubb stock opened at $274.00 on Monday. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a market capitalization of $109.24 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.56. The stock has a 50-day moving average price of $273.76 and a 200 day moving average price of $282.95. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

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

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb's payout ratio is presently 17.12%.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of recent analyst reports. Barclays lowered Chubb from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $321.00 to $298.00 in a research note on Monday, July 7th. Hsbc Global Res lowered Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Citigroup initiated coverage on Chubb in a research note on Wednesday, August 13th. They issued a "buy" rating and a $326.00 target price on the stock. Wells Fargo & Company reduced their target price on Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. Finally, Piper Sandler restated a "neutral" rating and issued a $283.00 price objective (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $303.06.

Insider Buying and Selling

In other Chubb news, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the transaction, the insider directly owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Corbat purchased 425 shares of the firm's stock in a transaction on Friday, July 25th. The stock was bought 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 $661,010. This trade represents a 20.99% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.86% of the company's stock.

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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