Kingsview Wealth Management LLC Takes $1.77 Million Position in Chubb Limited $CB

Key Points

• Kingsview Wealth Management initiated a $1.77 million position in Chubb during the second quarter by purchasing 5,183 shares. Institutional investors and hedge funds collectively own 83.81% of the company.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and an average price target of $361; targets range from $301 to $386.
• Chubb beat quarterly EPS expectations, reporting $7.26 versus the $6.77 consensus, while revenue rose 3.6% year over year. The company also declared a quarterly dividend of $1.02, representing a 1.2% annualized yield.

Kingsview Wealth Management LLC purchased a new position in Chubb Limited (NYSE:CB - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,183 shares of the financial services provider's stock, valued at approximately $1,766,000.

A number of other institutional investors have also made changes to their positions in the stock. XXEC Inc. bought a new position in Chubb during the second quarter worth about $228,226,000. Berkshire Hathaway Inc increased its stake in shares of Chubb by 9.3% in the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider's stock valued at $10,689,855,000 after acquiring an additional 2,916,288 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Chubb in the 2nd quarter valued at about $9,913,336,000. State Street Corp raised its position in shares of Chubb by 0.4% in the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider's stock valued at $4,827,852,000 after acquiring an additional 68,553 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider's stock valued at $4,665,508,000 after acquiring an additional 3,049,987 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Chubb from $340.00 to $370.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Piper Sandler increased their target price on shares of Chubb from $340.00 to $374.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Atlantic Securities set a $301.00 price target on shares of Chubb in a research report on Wednesday, July 15th. Mizuho lifted their price target on shares of Chubb from $335.00 to $352.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group boosted their price target on shares of Chubb from $362.00 to $386.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $361.00.

Insider Buying and Selling at Chubb

In other news, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the sale, the executive vice president owned 33,749 shares of the company's stock, valued at $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael P. Connors sold 5,500 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the sale, the director owned 12,803 shares in the company, valued at approximately $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by corporate insiders.

Chubb Trading Up 0.6%

NYSE:CB opened at $340.34 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The business's 50-day simple moving average is $347.46 and its 200-day simple moving average is $333.97. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The stock has a market capitalization of $131.30 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.65 and a beta of 0.39.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.77 by $0.49. The business had revenue of $11.97 billion during the quarter, compared to analysts' expectations of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $6.14 EPS. Sell-side analysts expect that Chubb Limited will post 27.35 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb's dividend payout ratio is 14.43%.

About Chubb

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.

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