Salvus Wealth Management LLC Takes Position in Chubb Limited $CB

Key Points

• Salvus Wealth Management LLC has acquired a new position in Chubb Limited, purchasing 1,608 shares valued at approximately $466,000 during the second quarter.
• Chubb has recently declared a $0.97 quarterly dividend to be paid on October 3rd, representing an annualized dividend of $3.88 and a yield of 1.4%.
• Analysts have varied outlooks on Chubb's stock, with price target reductions from major firms, yet Keefe, Bruyette & Woods has upgraded their rating to "outperform" with a price objective increase to $324.00.

Salvus Wealth Management LLC acquired a new stake in Chubb Limited (NYSE:CB - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,608 shares of the financial services provider's stock, valued at approximately $466,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Foster Group Inc. increased its position in shares of Chubb by 13.6% during the second quarter. Foster Group Inc. now owns 993 shares of the financial services provider's stock worth $288,000 after acquiring an additional 119 shares in the last quarter. Armstrong Advisory Group Inc. raised its holdings in shares of Chubb by 61.5% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 331 shares of the financial services provider's stock valued at $96,000 after buying an additional 126 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Chubb by 20.2% during the second quarter. GAMMA Investing LLC now owns 8,295 shares of the financial services provider's stock valued at $2,403,000 after purchasing an additional 1,394 shares during the period. Clear Harbor Asset Management LLC lifted its holdings in Chubb by 0.6% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 6,933 shares of the financial services provider's stock worth $2,009,000 after buying an additional 41 shares during the period. Finally, Pacifica Partners Inc. raised its position in shares of Chubb by 4.7% in the 2nd quarter. Pacifica Partners Inc. now owns 890 shares of the financial services provider's stock worth $254,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Stock Performance

Chubb stock traded down $0.90 on Monday, reaching $272.99. 1,820,995 shares of the stock were exchanged, compared to its average volume of 1,847,486. The stock has a market cap of $108.84 billion, a PE ratio of 12.04, a PEG ratio of 3.09 and a beta of 0.56. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The firm has a fifty day moving average price of $273.62 and a two-hundred day moving average price of $282.86. 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 (NYSE:CB - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the prior year, the business posted $5.38 earnings per share. Chubb's revenue was up 6.3% compared to the same quarter last year. Sell-side analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

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

Insider Buying and Selling at Chubb

In related news, insider John J. Lupica sold 5,513 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Corbat bought 425 shares of the company's stock in a transaction on Friday, July 25th. The stock was bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares of the company's stock, valued at approximately $661,010. This represents a 20.99% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.86% of the company's stock.

Analyst Upgrades and Downgrades

CB has been the topic of several research analyst reports. Citigroup began coverage on shares of Chubb in a report on Wednesday, August 13th. They issued a "buy" rating and a $326.00 target price on the stock. UBS Group reduced their price objective on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Wells Fargo & Company decreased 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 note on Thursday, July 24th. Evercore ISI set a $312.00 price target on Chubb in a research note on Wednesday, July 23rd. Finally, Barclays cut 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 note on Monday, July 7th. Two equities research 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.com, the company 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.