Occidental Asset Management LLC Buys New Shares in Chubb Limited $CB

Key Points

• Occidental Asset Management LLC bought 12,665 Chubb shares worth approximately $4.3 million in the second quarter. Institutional investors collectively own 83.81% of Chubb’s stock.
• Chubb reported quarterly EPS of $7.26, beating estimates of $6.77, while revenue rose 3.6% year over year to $11.97 billion. Analysts expect full-year EPS of approximately $27.45.
• Chubb declared a quarterly dividend of $1.02 per share, equal to an annualized $4.08 dividend and a 1.2% yield. Wall Street’s consensus rating is Hold, with an average price target of $360.09.

Occidental Asset Management LLC bought a new position in Chubb Limited (NYSE:CB - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 12,665 shares of the financial services provider's stock, valued at approximately $4,315,000.

A number of other institutional investors have also bought and sold shares of the business. Dunhill Financial LLC bought a new stake in Chubb during the second quarter valued at about $25,000. CBIZ Investment Advisory Services LLC boosted 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 period. Frazier Financial Advisors LLC grew its position in shares of Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock worth $27,000 after purchasing an additional 38 shares in the last quarter. Merkkuri Wealth Advisors LLC purchased a new stake in shares of Chubb during the first quarter worth about $29,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Chubb during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Stock Performance

Chubb stock opened at $341.24 on Tuesday. The company's 50-day moving average price is $344.69 and its 200-day moving average price is $332.47. 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 $131.65 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.70 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 results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating analysts' consensus estimates of $6.77 by $0.49. The firm 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 revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $6.14 EPS. On average, equities research analysts forecast that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders 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 dividend on an annualized basis and a yield of 1.2%. Chubb's dividend payout ratio is 14.43%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CB shares. UBS Group boosted their price target on Chubb from $340.00 to $369.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Piper Sandler increased their price objective on shares of Chubb from $340.00 to $374.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Evercore reissued an "outperform" rating and issued a $374.00 target price on shares of Chubb in a report on Friday, July 10th. Finally, Citigroup restated a "market outperform" rating on shares of Chubb in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $360.09.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 8,502 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company's stock.

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.

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