ZWJ Investment Counsel Inc. Purchases 5,670 Shares of Chubb Limited $CB

Key Points

• ZWJ Investment Counsel increased its Chubb stake by 2.8% in the third quarter, adding 5,670 shares to hold 205,424 shares valued at approximately $66.8 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly earnings of $7.26 per share, exceeding estimates of $6.77, while revenue rose 3.6% year over year to $11.97 billion. The company also maintains a quarterly dividend of $1.02, equivalent to a 1.2% yield.
• Analyst sentiment remains mixed, with Chubb receiving an average “Hold” rating and a consensus price target of $358.36; recent firms lowered their targets, while Goldman Sachs raised its target to $386 and maintained a “Buy” rating.

ZWJ Investment Counsel Inc. grew its position in Chubb Limited (NYSE:CB - Free Report) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,424 shares of the financial services provider's stock after buying an additional 5,670 shares during the period. Chubb accounts for approximately 1.9% of ZWJ Investment Counsel Inc.'s investment portfolio, making the stock its 18th largest position. ZWJ Investment Counsel Inc. owned 0.05% of Chubb worth $66,814,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. XXEC Inc. acquired a new position in Chubb in the second quarter valued at approximately $228,226,000. Berkshire Hathaway Inc purchased a new position in Chubb in the second quarter worth approximately $11,670,067,000. BlackRock Inc. purchased a new position in Chubb in the second quarter worth approximately $9,913,336,000. GQG Partners LLC purchased a new position in Chubb in the second quarter worth approximately $4,250,113,000. Finally, Bank of America Corp DE acquired a new stake in Chubb during the second quarter worth $1,545,084,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Price Performance

Chubb stock opened at $350.05 on Thursday. The company's 50 day simple moving average is $340.26 and its 200-day simple moving average is $335.98. The company has a market capitalization of $135.05 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.52 and a beta of 0.36. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. The firm 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 for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $6.14 EPS. As a group, equities research analysts expect that Chubb Limited will post 27.68 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, September 11th. Chubb's dividend payout ratio (DPR) is 14.43%.

Analyst Ratings Changes

CB has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Chubb from $356.00 to $343.00 and set an "equal weight" rating on the stock in a research report on Monday. Mizuho decreased their price target on Chubb from $347.00 to $336.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 7th. The Goldman Sachs Group increased their price target on Chubb from $362.00 to $386.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Weiss Ratings cut Chubb from a "buy (a-)" rating to a "buy (b)" rating in a report on Friday, October 2nd. Finally, Atlantic Securities set a $301.00 price objective on Chubb in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Chubb currently has an average rating of "Hold" and a consensus price target of $358.36.

Insider Buying and Selling

In other Chubb news, Director Michael P. Connors sold 5,500 shares of the company's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director directly owned 12,803 shares in the company, valued at $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph Wayland sold 8,502 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares of the company's stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by insiders.

Chubb Profile

Chubb Limited NYSE: CB is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.

The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers' compensation, homeowners insurance, automobile coverage, and specialty insurance.

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