Merit Financial Group LLC Acquires 15,637 Shares of Chubb Limited $CB

Key Points

• Merit Financial Group LLC increased its ownership in Chubb Limited by 101.4%, acquiring an additional 15,637 shares to bring its total holdings to 31,059 shares valued at approximately $8.99 million.
• Chubb recently reported earnings of $6.14 EPS for the last quarter, surpassing analysts' expectations of $5.84, along with a revenue of $14.20 billion.
• The company announced a quarterly dividend of $0.97, translating to an annual yield of 1.4%, with a payout ratio currently at 17.12%.

Merit Financial Group LLC boosted its holdings in Chubb Limited (NYSE:CB - Free Report) by 101.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,059 shares of the financial services provider's stock after buying an additional 15,637 shares during the quarter. Merit Financial Group LLC's holdings in Chubb were worth $8,999,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock worth $537,000 after purchasing an additional 221 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of Chubb during the fourth quarter worth $205,000. Sivia Capital Partners LLC increased its holdings in shares of Chubb by 5.1% during the first quarter. Sivia Capital Partners LLC now owns 1,217 shares of the financial services provider's stock worth $368,000 after buying an additional 59 shares in the last quarter. Orrstown Financial Services Inc. lifted its stake in shares of Chubb by 57.3% in the 1st quarter. Orrstown Financial Services Inc. now owns 1,139 shares of the financial services provider's stock valued at $344,000 after acquiring an additional 415 shares during the last quarter. Finally, RDA Financial Network acquired a new stake in shares of Chubb during the 1st quarter valued at $215,000. Institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CB. Cantor Fitzgerald upgraded Chubb to a "hold" rating in a research report on Wednesday, August 13th. Piper Sandler reiterated a "neutral" rating and issued a $283.00 price objective (down previously from $335.00) on shares of Chubb in a report on Thursday, July 24th. Weiss Ratings reissued a "buy (b)" rating on shares of Chubb in a report on Saturday, September 27th. Wolfe Research upgraded shares of Chubb to a "strong-buy" rating in a research report on Tuesday, September 16th. Finally, Barclays lowered shares of Chubb from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chubb has an average rating of "Hold" and an average price target of $303.24.

Insider Transactions at Chubb

In other Chubb news, Director Michael Corbat purchased 425 shares of the business's stock in a transaction on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.86% of the company's stock.

Chubb Trading Up 0.9%

CB opened at $283.99 on Monday. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The company has a fifty day moving average of $274.76 and a 200-day moving average of $282.06. The stock has a market cap of $113.22 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 3.20 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts' consensus estimates 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 firm posted $5.38 earnings per share. The business's quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Chubb Limited will post 21.52 EPS for the current 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 issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb's payout ratio is presently 17.12%.

Chubb Company 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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