Hennessy Advisors Inc. Increases Position in Chubb Limited $CB

Key Points

• Hennessy Advisors Inc. increased its stake in Chubb Limited by 50% during the second quarter, acquiring an additional 1,500 shares to hold a total of 4,500 shares valued at $1.3 million.
• Chubb recently reported a strong earnings quarter with earnings per share of $6.14, exceeding expectations and demonstrating a year-over-year revenue increase of 6.3% to $14.2 billion.
• Chubb declared a quarterly dividend of $0.97 per share, highlighting a modest annualized yield of 1.4% with a low payout ratio of 17.12%.

Hennessy Advisors Inc. increased its stake in Chubb Limited (NYSE:CB - Free Report) by 50.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,500 shares of the financial services provider's stock after purchasing an additional 1,500 shares during the quarter. Hennessy Advisors Inc.'s holdings in Chubb were worth $1,304,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Modern Wealth Management LLC increased its holdings in Chubb by 6.2% during the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider's stock valued at $744,000 after acquiring an additional 143 shares in the last quarter. Jump Financial LLC increased its holdings in Chubb by 633.6% during the 1st quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider's stock valued at $2,470,000 after acquiring an additional 7,065 shares in the last quarter. Legato Capital Management LLC increased its holdings in Chubb by 120.9% during the 1st quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider's stock valued at $3,080,000 after acquiring an additional 5,582 shares in the last quarter. Davis Rea LTD. purchased a new position in Chubb during the 1st quarter valued at about $5,117,000. Finally, First Horizon Advisors Inc. increased its holdings in Chubb by 3.3% during the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock valued at $13,070,000 after acquiring an additional 1,375 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CB shares. Weiss Ratings restated a "buy (b)" rating on shares of Chubb in a report on Saturday, September 27th. Piper Sandler reaffirmed a "neutral" rating and set a $283.00 price target (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Hsbc Global Res cut shares of Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Citigroup assumed coverage on shares of Chubb in a research note on Wednesday, August 13th. They set a "buy" rating and a $326.00 price target on the stock. Finally, Evercore ISI raised their price target on shares of Chubb from $312.00 to $315.00 and gave the stock an "outperform" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $303.24.

Chubb Price Performance

CB opened at $283.99 on Friday. The company's 50 day simple moving average is $274.76 and its 200 day simple moving average is $282.15. 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 Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The stock has a market capitalization of $113.22 billion, a PE ratio of 12.53, a P/E/G ratio of 3.20 and a beta of 0.54.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping 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 business had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $12.53 billion. During the same period last year, the company earned $5.38 earnings per share. The company's quarterly revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders 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 of this dividend was Friday, September 12th. Chubb's payout ratio is 17.12%.

Insiders Place Their Bets

In other Chubb news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is currently owned by company insiders.

About Chubb

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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