NEOS Investment Management LLC Buys 7,174 Shares of Chubb Limited $CB

Key Points

• NEOS Investment Management increased its Chubb stake by 13.7% in the second quarter, acquiring 7,174 shares and bringing its holdings to 59,671 shares valued at approximately $20.3 million. Institutional investors and hedge funds collectively own 83.81% of Chubb.
• Analysts maintain a generally neutral view, with one Strong Buy, eight Buy, twelve Hold and one Sell rating; the average price target is $361, compared with a recent share price of $341.16.
• Chubb exceeded quarterly EPS expectations, reporting $7.26 versus the $6.77 consensus estimate, while revenue rose 3.6% year over year. The company declared a quarterly dividend of $1.02, equivalent to a 1.2% annualized yield.

NEOS Investment Management LLC grew its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 13.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,671 shares of the financial services provider's stock after acquiring an additional 7,174 shares during the period. NEOS Investment Management LLC's holdings in Chubb were worth $20,332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dunhill Financial LLC bought a new position in Chubb during the 2nd quarter worth $25,000. IMG Wealth Management Inc. bought a new stake in shares of Chubb in the second quarter valued at about $25,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 49 shares during the period. Parvin Asset Management LLC acquired a new position in shares of Chubb in the second quarter valued at about $26,000. Finally, Frazier Financial Advisors LLC grew its stake in shares of Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CB. Morgan Stanley lifted their price objective on shares of Chubb from $340.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 19th. Mizuho increased their target price on shares of Chubb from $335.00 to $352.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Evercore reaffirmed an "outperform" rating and set a $374.00 target price on shares of Chubb in a report on Friday, July 10th. Citigroup reiterated a "market outperform" rating on shares of Chubb in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company cut their price target on Chubb from $358.00 to $356.00 and set an "equal weight" rating for the company in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $361.00.

Chubb Trading Down 2.0%

Shares of Chubb stock opened at $341.16 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The company has a market capitalization of $131.62 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.66 and a beta of 0.37. The firm's 50-day moving average price is $348.27 and its two-hundred day moving average price is $334.45.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts' consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.14 EPS. On average, analysts forecast that Chubb Limited will post 27.35 earnings per share for the current fiscal 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 paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb's dividend payout ratio is currently 14.43%.

Insider Buying and Selling at Chubb

In related news, Director Michael Connors sold 5,500 shares of Chubb stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the transaction, the director owned 12,803 shares of the company's stock, valued at $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction dated 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 completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company's stock.

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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