Turtle Creek Wealth Advisors LLC Acquires New Stake in Chubb Limited $CB

Key Points

• Turtle Creek Wealth Advisors LLC acquired a new stake in Chubb Limited, purchasing 1,456 shares valued at approximately $422,000.
• Chubb recently reported earnings of $6.14 EPS for the last quarter, exceeding estimates, with revenue rising 6.3% year-over-year to $14.20 billion.
• The company declared a quarterly dividend of $0.97 per share, resulting in an annualized dividend yield of 1.4%.

Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Chubb Limited (NYSE:CB - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,456 shares of the financial services provider's stock, valued at approximately $422,000.

A number of other hedge funds also recently bought and sold shares of CB. North Capital Inc. purchased a new stake in Chubb in the first quarter worth about $26,000. IMA Advisory Services Inc. purchased a new stake in Chubb in the first quarter worth about $31,000. 1248 Management LLC purchased a new stake in Chubb in the first quarter worth about $31,000. WPG Advisers LLC purchased a new stake in Chubb in the first quarter worth about $33,000. Finally, Maseco LLP purchased a new stake in Chubb in the second quarter worth about $35,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CB shares. Bank of America upped their price target on Chubb from $276.00 to $279.00 and gave the stock an "underperform" rating in a research report on Monday. Wells Fargo & Company upped their price target on Chubb from $267.00 to $277.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 8th. Wolfe Research upgraded Chubb to a "strong-buy" rating in a research report on Tuesday, September 16th. UBS Group reduced their price target on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Finally, Piper Sandler reiterated a "neutral" rating and set a $283.00 target price (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $305.28.

Chubb Stock Performance

NYSE:CB opened at $268.12 on Friday. 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 12-month low of $252.16 and a 12-month high of $306.91. The stock has a 50-day moving average price of $277.47 and a 200 day moving average price of $281.47. The stock has a market capitalization of $106.90 billion, a P/E ratio of 11.83, a P/E/G ratio of 3.13 and a beta of 0.54.

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 (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.30. The firm had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm's revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $5.38 earnings per share. Equities research analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb's dividend payout ratio (DPR) is currently 17.12%.

Insiders Place Their Bets

In other news, Director Michael Corbat purchased 425 shares of the business's stock in a transaction on Friday, July 25th. The stock was acquired at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director directly owned 2,450 shares of the company's stock, valued at $661,010. This represents a 20.99% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is owned by corporate insiders.

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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