Main Street Financial Solutions LLC Makes New $2.55 Million Investment in Chubb Limited $CB

Key Points

• Main Street Financial Solutions acquired 7,474 Chubb shares worth approximately $2.55 million during the second quarter. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, exceeding estimates of $6.77, while revenue rose 3.6% year over year to $11.97 billion. Shares opened at $345.56, near the company’s 52-week high.
• Analysts maintain a generally cautious outlook, with an average “Hold” rating and a $360.09 price target. Chubb also declared a quarterly dividend of $1.02 per share, representing a 1.2% annualized yield.

Main Street Financial Solutions LLC acquired a new position in Chubb Limited (NYSE:CB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,474 shares of the financial services provider's stock, valued at approximately $2,547,000.

A number of other large investors also recently modified their holdings of the stock. Berkshire Hathaway Inc grew its holdings in Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider's stock worth $10,689,855,000 after buying an additional 2,916,288 shares in the last quarter. BlackRock Inc. bought a new position in Chubb during the 2nd quarter valued at $9,913,336,000. State Street Corp lifted its stake in Chubb by 0.4% during 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Chubb by 25.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider's stock worth $4,665,508,000 after acquiring an additional 3,049,987 shares during the last quarter. Finally, GQG Partners LLC boosted its holdings in Chubb by 15.2% during the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider's stock worth $3,895,627,000 after acquiring an additional 1,647,729 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Insider Transactions at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares of the company's stock, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

CB has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of Chubb from $330.00 to $340.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. Cantor Fitzgerald raised their price target on shares of Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and boosted their price target for the stock from $370.00 to $373.00 in a report on Monday, July 6th. Citigroup reaffirmed a "market outperform" rating on shares of Chubb in a research report on Wednesday, July 22nd. Finally, Atlantic Securities set a $301.00 price objective on shares of Chubb in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $360.09.

Chubb Stock Up 1.4%

Shares of NYSE:CB opened at $345.56 on Wednesday. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The company has a market capitalization of $133.32 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39. The business has a fifty day moving average price of $345.10 and a two-hundred day moving average price of $332.77. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping analysts' consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion for 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%.The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $6.14 EPS. Analysts forecast that Chubb Limited will post 27.45 earnings per share for the current year.

Chubb Announces Dividend

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

Chubb Company Profile

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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