Lockerman Financial Group Inc. Acquires Shares of 1,079 Chubb Limited $CB

Key Points

• Lockerman Financial Group Inc. has acquired 1,079 shares of Chubb Limited, equating to approximately $313,000, during the second quarter according to a recent SEC filing.
• Chubb reported earnings of $6.14 per share for the last quarter, surpassing estimates and showing a revenue increase of 6.3% year-over-year.
• Chubb has announced a quarterly dividend of $0.97 per share, with an annualized yield of 1.4% and a payout ratio of 17.12%.

Lockerman Financial Group Inc. acquired a new stake in shares of Chubb Limited (NYSE:CB - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,079 shares of the financial services provider's stock, valued at approximately $313,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Chicago Capital LLC increased its position in Chubb by 25.2% during the 2nd quarter. Chicago Capital LLC now owns 9,631 shares of the financial services provider's stock valued at $2,790,000 after purchasing an additional 1,936 shares during the period. Trivium Point Advisory LLC grew its position in shares of Chubb by 163.3% in the 2nd quarter. Trivium Point Advisory LLC now owns 3,168 shares of the financial services provider's stock worth $918,000 after buying an additional 1,965 shares during the period. Capital Investment Advisors LLC grew its position in shares of Chubb by 33.5% in the 2nd quarter. Capital Investment Advisors LLC now owns 5,490 shares of the financial services provider's stock worth $1,590,000 after buying an additional 1,379 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Chubb by 3.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 304,480 shares of the financial services provider's stock worth $88,214,000 after buying an additional 11,076 shares during the period. Finally, Venture Visionary Partners LLC grew its position in shares of Chubb by 2.8% in the 2nd quarter. Venture Visionary Partners LLC now owns 37,382 shares of the financial services provider's stock worth $10,830,000 after buying an additional 1,032 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

CB opened at $279.41 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $111.40 billion, a P/E ratio of 12.33, a P/E/G ratio of 3.17 and a beta of 0.56. The company's 50-day simple moving average is $273.94 and its two-hundred day simple moving average is $282.44. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the business earned $5.38 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be issued a $0.97 dividend. 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%.

Insider Transactions at Chubb

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on CB shares. HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and reduced their target price for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. UBS Group dropped their price target on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Piper Sandler reiterated a "neutral" rating and issued a $283.00 price target (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Wells Fargo & Company dropped their price target on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. Finally, Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $321.00 to $298.00 in a research note on Monday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Chubb currently has an average rating of "Hold" and a consensus price target of $303.06.

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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