Goldstein Advisors LLC Sells 1,519 Shares of Chubb Limited $CB

Key Points

• Goldstein Advisors LLC significantly reduced its stake in Chubb Limited by 64.1%, selling 1,519 shares, and now holds 850 shares valued at approximately $246,000.
• Chubb's quarterly earnings exceeded expectations, reporting $6.14 earnings per share, with revenue of $14.20 billion, reflecting a 6.3% year-over-year increase.
• Chubb's stock received mixed ratings from analysts, with an average rating of "Hold" and a consensus target price of $305.28, amidst various price adjustments by financial institutions.

Goldstein Advisors LLC decreased its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 64.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 850 shares of the financial services provider's stock after selling 1,519 shares during the period. Goldstein Advisors LLC's holdings in Chubb were worth $246,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. North Capital Inc. bought a new stake in shares of Chubb during the 1st quarter worth about $26,000. IMA Advisory Services Inc. bought a new stake in Chubb in the 1st quarter valued at about $31,000. 1248 Management LLC bought a new stake in Chubb in the 1st quarter valued at about $31,000. WPG Advisers LLC bought a new stake in Chubb in the 1st quarter valued at about $33,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in Chubb by 391.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 94 shares during the period. Institutional investors own 83.81% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CB shares. Piper Sandler reissued a "neutral" rating and issued a $283.00 price objective (down previously from $335.00) on shares of Chubb in a report on Thursday, July 24th. Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a report on Wednesday, August 13th. Barclays boosted their price objective on shares of Chubb from $298.00 to $310.00 and gave the company an "equal weight" rating in a report on Wednesday, October 8th. Bank of America boosted their price objective on shares of Chubb from $276.00 to $279.00 and gave the company an "underperform" rating in a report on Monday, October 13th. Finally, HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and cut their price target for the stock from $317.00 to $300.00 in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Chubb currently has an average rating of "Hold" and a consensus target price of $305.28.

Insider Transactions at Chubb

In related news, Director Michael Corbat acquired 425 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director directly owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

Chubb Stock Performance

Shares of Chubb stock opened at $268.15 on Friday. The company has a 50 day moving average of $277.40 and a 200-day moving average of $281.09. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The company has a market cap of $106.91 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 3.02 and a beta of 0.54.

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

Chubb Dividend Announcement

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

Chubb 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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