Harrell Investment Partners LLC Increases Stock Holdings in Chubb Limited $CB

Key Points

• Harrell Investment Partners LLC increased its stake in Chubb Limited by 11.1% in the second quarter, owning 21,106 shares valued at approximately $6.1 million.
• Chubb Limited reported $6.14 EPS for the quarter, beating analysts' expectations, with revenue of $14.2 billion, a 6.3% increase from the previous year.
• The company announced a quarterly dividend of $0.97 per share, scheduled for payment on October 3rd, representing a yield of 1.4%.

Harrell Investment Partners LLC raised its holdings in Chubb Limited (NYSE:CB - Free Report) by 11.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,106 shares of the financial services provider's stock after buying an additional 2,103 shares during the quarter. Chubb comprises 1.5% of Harrell Investment Partners LLC's holdings, making the stock its 16th largest position. Harrell Investment Partners LLC's holdings in Chubb were worth $6,115,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Missouri Trust & Investment Co grew its stake in shares of Chubb by 4.0% during the second quarter. Missouri Trust & Investment Co now owns 4,228 shares of the financial services provider's stock worth $1,225,000 after acquiring an additional 163 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Chubb by 11.8% during the second quarter. TD Private Client Wealth LLC now owns 5,635 shares of the financial services provider's stock worth $1,633,000 after buying an additional 594 shares during the period. Lynch & Associates IN acquired a new stake in Chubb during the 2nd quarter worth about $201,000. Northside Capital Management LLC purchased a new stake in Chubb in the second quarter valued at approximately $796,000. Finally, Graypoint LLC boosted its holdings in shares of Chubb by 0.5% in the 2nd quarter. Graypoint LLC now owns 24,369 shares of the financial services provider's stock valued at $7,060,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Stock Performance

CB opened at $278.22 on Thursday. 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 Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The company has a market cap of $110.92 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 3.11 and a beta of 0.56. The firm's fifty day simple moving average is $273.63 and its two-hundred day simple moving average is $282.78.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 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 business had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. During the same quarter in the prior year, the firm earned $5.38 earnings per share. The business's revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on CB. Piper Sandler restated a "neutral" rating and issued a $283.00 target price (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. UBS Group lowered their price objective on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Hsbc Global Res lowered shares of Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and decreased their target price for the company from $317.00 to $300.00 in a research note on Friday, August 1st. Finally, Evercore ISI set a $312.00 price target on shares of Chubb in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chubb presently has an average rating of "Hold" and an average price target of $303.06.

Insider Buying and Selling

In related news, insider John J. Lupica sold 5,513 shares of the 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 sale, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Corbat bought 425 shares of the company's stock in a transaction on Friday, July 25th. The stock was bought at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director owned 2,450 shares in the company, valued at $661,010. This represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.77% 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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