Park Avenue Securities LLC Purchases 4,371 Shares of Chubb Limited $CB

Key Points

• Park Avenue Securities LLC has increased its investment in Chubb Limited by 18.3%, acquiring an additional 4,371 shares to bring its total holdings to 28,276 shares, valued at approximately $8.19 million.
• Chubb reported strong earnings, with $6.14 earnings per share for the quarter, exceeding analyst expectations and showing a year-over-year revenue increase of 6.3% to $14.20 billion.
• The company has announced a quarterly dividend of $0.97, with a yield of 1.4%, demonstrating a low dividend payout ratio of 17.12%.

Park Avenue Securities LLC boosted its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 18.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,276 shares of the financial services provider's stock after purchasing an additional 4,371 shares during the quarter. Park Avenue Securities LLC's holdings in Chubb were worth $8,192,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CB. Peoples Bank KS bought a new stake in shares of Chubb in the 1st quarter worth about $25,000. Opal Wealth Advisors LLC bought a new position in shares of Chubb in the 1st quarter valued at about $25,000. North Capital Inc. bought a new position in shares of Chubb in the 1st quarter valued at about $26,000. IMA Advisory Services Inc. bought a new position in shares of Chubb in the 1st quarter valued at about $31,000. Finally, 1248 Management LLC bought a new position in shares of Chubb in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Price Performance

NYSE:CB opened at $274.00 on Monday. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $273.76 and a 200 day simple moving average of $282.95. The stock has a market capitalization of $109.24 billion, a PE ratio of 12.09, a P/E/G ratio of 3.09 and a beta of 0.56.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating 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 analysts' expectations of $12.53 billion. During the same period last year, the business earned $5.38 earnings per share. The firm's revenue was up 6.3% on a year-over-year basis. On average, research analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be paid 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 dividend payout ratio (DPR) is currently 17.12%.

Insider Buying and Selling at Chubb

In related news, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the transaction, the insider directly owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Corbat acquired 425 shares of Chubb stock in a transaction on Friday, July 25th. The shares were bought 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 owned 2,450 shares of the company's stock, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CB has been the topic of a number of analyst reports. Hsbc Global Res downgraded shares of Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Piper Sandler reiterated a "neutral" rating and issued a $283.00 price target (down from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Wells Fargo & Company cut their price target on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 24th. UBS Group cut their price target on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Finally, Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $321.00 to $298.00 in a research report on Monday, July 7th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $303.06.

Chubb Profile

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.

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