NewEdge Advisors LLC Has $31.50 Million Stock Holdings in Chubb Limited $CB

Key Points

• NewEdge Advisors reduced its Chubb stake by 6.6% in the first quarter, selling 6,829 shares and retaining 96,634 shares valued at approximately $31.5 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb’s latest quarterly results exceeded expectations, with earnings per share of $7.26 versus the $6.77 consensus and revenue up 3.6% year over year. The company also raised its quarterly dividend to $1.02, or $4.08 annually.
• Analyst sentiment remains mixed: Chubb has an average “Hold” rating and a consensus price target of $360.09, while recent targets range from $271 to $400. Company insiders also sold shares, including executives Joseph Wayland and John Keogh.

NewEdge Advisors LLC trimmed its holdings in Chubb Limited (NYSE:CB - Free Report) by 6.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,634 shares of the financial services provider's stock after selling 6,829 shares during the quarter. NewEdge Advisors LLC's holdings in Chubb were worth $31,496,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CBIZ Investment Advisory Services LLC raised its stake 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 worth $26,000 after acquiring an additional 49 shares during the last quarter. Frazier Financial Advisors LLC increased its holdings 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 purchasing an additional 38 shares in the last quarter. Merkkuri Wealth Advisors LLC bought a new position in Chubb in the 1st quarter worth approximately $29,000. Laurel Wealth Advisors LLC bought a new position in Chubb in the 4th quarter worth approximately $31,000. Finally, Ares Financial Consulting LLC acquired a new position in Chubb during the 4th quarter worth $32,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 8,502 shares of Chubb 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 transaction, the executive vice president directly owned 33,749 shares of the company's stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the business'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 completion of the transaction, the chief operating officer directly owned 203,322 shares of the company's stock, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.37% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citizens Jmp reissued a "market outperform" rating and issued a $400.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Citigroup reaffirmed a "market outperform" rating on shares of Chubb in a research note on Wednesday, July 22nd. Bank of America decreased their price target on Chubb from $286.00 to $271.00 and set an "underperform" rating on the stock in a report on Tuesday, April 14th. Mizuho lifted their price objective on Chubb from $335.00 to $352.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Finally, Piper Sandler boosted their price objective on Chubb from $340.00 to $374.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Two equities 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 given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $360.09.

Chubb Stock Performance

CB stock opened at $350.17 on Friday. The business's fifty day moving average is $341.33 and its 200-day moving average is $330.43. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a market cap of $135.10 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 1.75 and a beta of 0.39. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data 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. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion during the quarter, compared to analysts' expectations of $15.07 billion. During the same period in the previous year, the firm earned $6.14 earnings per share. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts forecast that Chubb Limited will post 27.45 EPS for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were given a $1.02 dividend. The ex-dividend date was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from Chubb's previous quarterly dividend of $0.97. Chubb's dividend payout ratio is 14.43%.

Chubb 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.

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source