Gateway Wealth Partners LLC Takes $1.70 Million Position in Chubb Limited $CB

Key Points

• Gateway Wealth Partners acquired 5,214 Chubb shares valued at approximately $1.70 million, while institutional investors collectively own 83.81% of the company.
• Chubb reported quarterly EPS of $7.26, exceeding the $6.77 consensus estimate, with revenue up 3.6% year over year. The company also raised its quarterly dividend to $1.02 per share, equivalent to a 1.1% annual yield.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $360.09; shares recently traded at $363.94. COO John W. Keogh separately sold 23,000 shares for approximately $7.4 million.

Gateway Wealth Partners LLC acquired a new position in shares of Chubb Limited (NYSE:CB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,214 shares of the financial services provider's stock, valued at approximately $1,699,000.

Other large investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its holdings in shares of Chubb by 1.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider's stock worth $102,959,000 after acquiring an additional 5,225 shares during the last quarter. waypoint wealth counsel lifted its position in Chubb by 76.4% in the 4th quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider's stock valued at $1,285,000 after acquiring an additional 1,784 shares in the last quarter. National Pension Service raised its stake in shares of Chubb by 24.4% in the fourth quarter. National Pension Service now owns 1,148,474 shares of the financial services provider's stock valued at $358,462,000 after buying an additional 225,515 shares during the period. Harbour Investments Inc. lifted its position in shares of Chubb by 884.1% during the 4th quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider's stock valued at $3,108,000 after buying an additional 8,947 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Chubb by 16.8% during the 1st quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider's stock valued at $5,424,000 after buying an additional 2,389 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the company's 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 transaction, the chief operating officer owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.37% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CB. HSBC lowered Chubb from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $370.00 to $373.00 in a report on Monday, July 6th. Citizens Jmp reiterated a "market outperform" rating and issued a $400.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Citigroup reissued a "market outperform" rating on shares of Chubb in a research report on Wednesday, July 22nd. Cantor Fitzgerald raised their price objective on shares of Chubb from $318.00 to $337.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, Evercore reiterated an "outperform" rating and issued a $374.00 price objective on shares of Chubb in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Chubb has an average rating of "Hold" and a consensus price target of $360.09.

Chubb Trading Up 1.4%

Shares of Chubb stock opened at $363.94 on Wednesday. The company's 50-day moving average price is $336.80 and its 200-day moving average price is $327.92. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $365.29. The company has a market cap of $141.16 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.79 and a beta of 0.40.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating the consensus estimate of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to analysts' expectations of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. Chubb's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.14 earnings per share. On average, equities analysts expect that Chubb Limited will post 27.26 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were given a dividend of $1.02 per share. This is an increase from Chubb's previous quarterly dividend of $0.97. The ex-dividend date was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. Chubb's dividend payout ratio (DPR) is presently 14.43%.

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.