Pallas Capital Advisors LLC Boosts Stock Holdings in Chubb Limited $CB

Key Points

• Pallas Capital Advisors LLC increased its stake in Chubb Limited by 43.7%, acquiring 2,123 shares, bringing its total holdings to 6,978 shares valued at approximately $2,022,000.
• Chubb reported an earnings per share (EPS) of $6.14 for the last quarter, exceeding expectations by $0.30, with revenues of $14.20 billion against forecasts of $12.53 billion.
• The company declared a quarterly dividend of $0.97 per share, translating to an annualized dividend yield of 1.4%, to be paid on October 3rd.

Pallas Capital Advisors LLC increased its stake in Chubb Limited (NYSE:CB - Free Report) by 43.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 6,978 shares of the financial services provider's stock after buying an additional 2,123 shares during the quarter. Pallas Capital Advisors LLC's holdings in Chubb were worth $2,022,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC lifted its position in Chubb by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after buying an additional 221 shares during the period. Revolve Wealth Partners LLC purchased a new stake in shares of Chubb during the 4th quarter worth approximately $205,000. Bank Pictet & Cie Europe AG bought a new position in shares of Chubb during the 4th quarter valued at approximately $1,320,000. Two Sigma Advisers LP grew its position in Chubb by 83.8% in the 4th quarter. Two Sigma Advisers LP now owns 2,413 shares of the financial services provider's stock valued at $667,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its position in shares of Chubb by 63.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 10,799 shares of the financial services provider's stock worth $2,984,000 after buying an additional 4,187 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Performance

CB traded down $0.28 during midday trading on Friday, hitting $274.00. 3,627,677 shares of the company were exchanged, compared to its average volume of 1,736,191. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The firm has a market capitalization of $109.24 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.56. The company's 50 day simple moving average is $273.76 and its 200 day simple moving average is $282.97.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the previous year, the firm posted $5.38 earnings per share. The company's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb's payout ratio is 17.12%.

Insider Activity at Chubb

In other news, Director Michael Corbat bought 425 shares of the company's stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the transaction, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.77% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on CB. HSBC lowered Chubb from a "buy" rating to a "hold" rating and dropped their price objective for the company from $317.00 to $300.00 in a report on Friday, August 1st. Evercore ISI set a $312.00 target price on shares of Chubb in a research report on Wednesday, July 23rd. Wells Fargo & Company decreased their target price on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research note on Thursday, July 24th. Cantor Fitzgerald upgraded shares of Chubb to a "hold" rating in a research report on Wednesday, August 13th. Finally, Morgan Stanley reduced their price objective on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $303.06.

About Chubb

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.