Legacy Wealth Asset Management LLC Purchases 1,950 Shares of Chubb Limited $CB

Key Points

• Legacy Wealth Asset Management LLC increased its holdings in Chubb Limited by 36.5% after acquiring an additional 1,950 shares, bringing its total to 7,292 shares valued at approximately $2.11 million.
• Several institutional investors, including GQG Partners LLC and Ameriprise Financial Inc., have significantly increased their stakes in Chubb in recent quarters, reflecting a keen interest in the financial services provider.
• Chubb Limited recently reported earnings of $6.14 per share for the last quarter, exceeding expectations, alongside a 6.3% increase in revenue year-over-year, signaling strong financial performance.

Legacy Wealth Asset Management LLC boosted its position in shares of Chubb Limited (NYSE:CB - Free Report) by 36.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,292 shares of the financial services provider's stock after buying an additional 1,950 shares during the period. Legacy Wealth Asset Management LLC's holdings in Chubb were worth $2,113,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GQG Partners LLC lifted its stake in shares of Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock worth $2,836,899,000 after acquiring an additional 4,964,298 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Chubb by 6.9% during the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider's stock worth $1,418,398,000 after purchasing an additional 304,751 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Chubb by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider's stock worth $840,756,000 after purchasing an additional 30,334 shares during the period. Nuveen LLC purchased a new position in shares of Chubb in the 1st quarter valued at $562,221,000. Finally, AQR Capital Management LLC increased its holdings in shares of Chubb by 19.6% in the 1st quarter. AQR Capital Management LLC now owns 1,410,449 shares of the financial services provider's stock valued at $423,826,000 after acquiring an additional 231,404 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CB. The Goldman Sachs Group lifted their price target on Chubb from $299.00 to $303.00 and gave the company a "neutral" rating in a report on Monday, October 6th. Piper Sandler reiterated a "neutral" rating and issued a $283.00 price objective (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Weiss Ratings reissued a "buy (b)" rating on shares of Chubb in a report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price target on Chubb from $324.00 to $333.00 and gave the stock an "outperform" rating in a report on Monday, October 6th. Finally, Cantor Fitzgerald raised Chubb to a "hold" rating in a report on Wednesday, August 13th. 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 given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $305.28.

Insiders Place Their Bets

In other Chubb news, Director Michael Corbat acquired 425 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. The trade was a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.86% of the company's stock.

Chubb Price Performance

CB stock opened at $268.16 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The business has a 50 day simple moving average of $277.34 and a 200-day simple moving average of $280.85. The firm has a market capitalization 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 Limited has a 1 year low of $252.16 and a 1 year high of $306.91.

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

Chubb Dividend Announcement

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

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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