Mill Capital Management LLC Makes New Investment in Chubb Limited $CB

Key Points

• Mill Capital Management initiated a position in Chubb during the second quarter, purchasing 3,210 shares valued at approximately $1.09 million. Institutional investors and hedge funds collectively own 83.81% of the company.
• Chubb reported quarterly EPS of $7.26, beating the consensus estimate of $6.77, while revenue rose 3.6% year over year. Shares recently opened at $343.80, within a 52-week range of $265.30 to $365.91.
• Chubb declared a quarterly dividend of $1.02 per share, equivalent to $4.08 annually and a 1.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $360.09, while two executives recently sold shares.

Mill Capital Management LLC bought a new stake in Chubb Limited (NYSE:CB - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,210 shares of the financial services provider's stock, valued at approximately $1,094,000.

A number of other hedge funds have also recently made changes to their positions in CB. CBIZ Investment Advisory Services LLC grew its holdings in shares of Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock worth $26,000 after purchasing an additional 49 shares during the last quarter. Frazier Financial Advisors LLC raised its holdings in Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after buying an additional 38 shares during the last quarter. Merkkuri Wealth Advisors LLC bought a new position in Chubb in the 1st quarter valued at approximately $29,000. Laurel Wealth Advisors LLC bought a new position in Chubb in the 4th quarter valued at approximately $31,000. Finally, Ares Financial Consulting LLC acquired a new stake in Chubb during the 4th quarter worth approximately $32,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction 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. This represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by company insiders.

Chubb Stock Performance

Shares of CB stock opened at $343.80 on Friday. The stock has a market capitalization of $132.64 billion, a PE ratio of 12.16, a PEG ratio of 1.70 and a beta of 0.39. The business's 50 day simple moving average is $344.31 and its 200 day simple moving average is $331.99. 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 Limited has a one year low of $265.30 and a one year high of $365.91.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company's revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $6.14 EPS. As a group, research analysts forecast that Chubb Limited will post 27.45 earnings per share for the current year.

Chubb Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CB shares. HSBC lowered shares of Chubb from a "buy" rating to a "hold" rating and boosted their target price for the stock from $370.00 to $373.00 in a report on Monday, July 6th. Barclays set a $387.00 price target on shares of Chubb in a research note on Tuesday, July 7th. Mizuho lifted their price target on shares of Chubb from $335.00 to $352.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Piper Sandler boosted their price objective on shares of Chubb from $340.00 to $374.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Finally, Citigroup restated a "market outperform" rating on shares of Chubb in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $360.09.

About Chubb

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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