Proficio Capital Partners LLC Invests $1.68 Million in Chubb Limited $CB

Key Points

• Proficio Capital Partners established a new $1.68 million position in Chubb during the second quarter, while institutional investors collectively own 83.81% of the insurer’s stock.
• Analysts raised several Chubb price targets, but the consensus remains “Hold” with a target price of $361.00. Chubb recently exceeded quarterly earnings expectations, reporting $7.26 in EPS versus the $6.77 consensus.
• Chubb declared a quarterly dividend of $1.02 per share, equivalent to $4.08 annually and a 1.2% yield. Meanwhile, two company insiders sold shares, reducing their respective holdings by about 20% and 30%.

Proficio Capital Partners LLC bought a new position in Chubb Limited (NYSE:CB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,919 shares of the financial services provider's stock, valued at approximately $1,676,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. IMG Wealth Management Inc. purchased a new position in shares of Chubb during the second quarter worth $25,000. Dunhill Financial LLC purchased a new position in shares of Chubb during the 2nd quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. Frazier Financial Advisors LLC lifted its stake in shares of Chubb by 86.4% in the 1st 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 during the period. Finally, Merkkuri Wealth Advisors LLC purchased a new stake in Chubb during the first quarter worth $29,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CB. Cantor Fitzgerald lifted their price objective on shares of Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Weiss Ratings raised Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $354.00 price target on shares of Chubb in a research note on Wednesday, July 22nd. 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. Finally, UBS Group lifted their target price on shares of Chubb from $340.00 to $369.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Two investment 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 issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $361.00.

Insider Buying and Selling

In other news, Director Michael P. Connors sold 5,500 shares of Chubb stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares of the company's stock, valued at approximately $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 33,749 shares of the company's stock, valued at $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. Company insiders own 0.37% of the company's stock.

Chubb Stock Up 0.3%

NYSE CB opened at $344.08 on Thursday. The business has a fifty day moving average price of $346.84 and a 200 day moving average price of $333.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $132.75 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.66 and a beta of 0.39. Chubb Limited has a one year low of $265.30 and a one year high of $365.91.

Chubb (NYSE:CB - Get Free Report) last released its 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 business had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business's revenue was up 3.6% on a year-over-year basis. During the same period last year, the company posted $6.14 EPS. Research analysts anticipate that Chubb Limited will post 27.49 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be given a $1.02 dividend. 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 payout ratio is currently 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.

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