Lansing Street Advisors Buys 1,450 Shares of Chubb Limited $CB

Key Points

• Lansing Street Advisors increased its stake in Chubb Limited by 53.7%, acquiring an additional 1,450 shares during the second quarter, bringing its total holdings to 4,150 shares valued at approximately $1.2 million.
• Chubb reported strong earnings, with an EPS of $6.14 for the quarter, exceeding expectations of $5.84 and achieving a revenue of $14.20 billion against a consensus estimate of $12.53 billion.
• The company announced a quarterly dividend of $0.97 per share, reflecting an annualized yield of 1.3%, with a payout ratio of 17.12%.

Lansing Street Advisors boosted its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 53.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,150 shares of the financial services provider's stock after purchasing an additional 1,450 shares during the quarter. Lansing Street Advisors' holdings in Chubb were worth $1,206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. WoodTrust Financial Corp boosted its position in Chubb by 7.2% during the second quarter. WoodTrust Financial Corp now owns 1,047 shares of the financial services provider's stock worth $303,000 after purchasing an additional 70 shares during the period. Citizens National Bank Trust Department boosted its position in Chubb by 0.8% during the second quarter. Citizens National Bank Trust Department now owns 16,024 shares of the financial services provider's stock worth $4,642,000 after purchasing an additional 124 shares during the period. Kidder Stephen W boosted its position in Chubb by 7.2% during the second quarter. Kidder Stephen W now owns 890 shares of the financial services provider's stock worth $258,000 after purchasing an additional 60 shares during the period. Sax Wealth Advisors LLC boosted its position in Chubb by 74.9% during the second quarter. Sax Wealth Advisors LLC now owns 1,179 shares of the financial services provider's stock worth $342,000 after purchasing an additional 505 shares during the period. Finally, BankPlus Trust Department boosted its position in Chubb by 49.7% during the second quarter. BankPlus Trust Department now owns 1,289 shares of the financial services provider's stock worth $373,000 after purchasing an additional 428 shares during the period. 83.81% of the stock is owned by institutional investors.

Chubb Trading Up 1.0%

CB opened at $289.24 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $115.32 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 3.23 and a beta of 0.54. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The company has a 50-day simple moving average of $275.58 and a 200 day simple moving average of $282.08.

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

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.3%. Chubb's payout ratio is presently 17.12%.

Wall Street Analyst Weigh In

CB has been the subject of a number of research reports. Morgan Stanley dropped their target price on Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Citigroup assumed coverage on shares of Chubb in a research report on Wednesday, August 13th. They issued a "buy" rating and a $326.00 target price for the company. Piper Sandler reissued a "neutral" rating and issued a $283.00 target price (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. The Goldman Sachs Group boosted their target price on shares of Chubb from $299.00 to $303.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $303.72.

Insider Buying and Selling

In other Chubb news, Director Michael Corbat bought 425 shares of the stock in a transaction on Friday, July 25th. The stock was purchased at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.86% of the company's stock.

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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