Verdence Capital Advisors LLC Boosts Position in Chubb Limited $CB

Key Points

• Verdence Capital Advisors LLC increased its holdings in Chubb Limited by 5.0% during the second quarter, now owning 35,147 shares valued at approximately $10,183,000.
• Chubb reported $6.14 earnings per share for its latest quarter, exceeding analysts' expectations of $5.84, with a revenue of $14.20 billion up 6.3% year-over-year.
• The company announced a quarterly dividend of $0.97 per share, amounting to an annualized yield of 1.4%, with a payout ratio of 17.12%.

Verdence Capital Advisors LLC increased its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 5.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,147 shares of the financial services provider's stock after purchasing an additional 1,662 shares during the quarter. Verdence Capital Advisors LLC's holdings in Chubb were worth $10,183,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CB. Brighton Jones LLC lifted its stake in Chubb by 12.8% in 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 last quarter. Revolve Wealth Partners LLC purchased a new stake in Chubb in the fourth quarter valued at approximately $205,000. GAMMA Investing LLC lifted its stake in Chubb by 22.3% in the first quarter. GAMMA Investing LLC now owns 6,901 shares of the financial services provider's stock valued at $2,084,000 after buying an additional 1,258 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in Chubb in the first quarter valued at approximately $906,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Chubb in the first quarter valued at approximately $25,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Trading Down 0.4%

Shares of CB stock opened at $283.08 on Monday. The business's fifty day moving average price is $276.67 and its 200 day moving average price is $281.80. 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 $112.86 billion, a PE ratio of 12.49, a P/E/G ratio of 3.18 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.

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, topping analysts' consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the prior year, the company posted $5.38 earnings per share. Chubb's quarterly revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CB shares. 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 boosted their price objective on Chubb from $267.00 to $277.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 8th. Hsbc Global Res lowered Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Piper Sandler reissued a "neutral" rating and issued a $283.00 target price (down previously from $335.00) on shares of Chubb in a report on Thursday, July 24th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Chubb in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, Chubb presently has an average rating of "Moderate Buy" and an average price target of $306.82.

Insider Buying and Selling

In other news, Director Michael Corbat bought 425 shares of the firm's stock in a transaction on Friday, July 25th. The shares were bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.86% of the company's stock.

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.

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