Legacy Wealth Asset Management LLC Boosts Stock Position in Chubb Limited $CB

Legacy Wealth Asset Management LLC increased its position in shares of Chubb Limited (NYSE:CB) by 42.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,359 shares of the financial services provider’s stock after acquiring an additional 3,067 shares during the period. Chubb comprises 0.7% of Legacy Wealth Asset Management LLC’s investment portfolio, making the stock its 15th biggest position. Legacy Wealth Asset Management LLC’s holdings in Chubb were worth $2,924,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. 1248 Management LLC purchased a new stake in Chubb during the first quarter worth about $31,000. VSM Wealth Advisory LLC acquired a new position in shares of Chubb in the second quarter valued at approximately $32,000. WPG Advisers LLC acquired a new position in shares of Chubb in the first quarter valued at approximately $33,000. Heartwood Wealth Advisors LLC purchased a new stake in Chubb during the 3rd quarter worth approximately $34,000. Finally, Maseco LLP purchased a new position in Chubb in the 2nd quarter valued at approximately $35,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CB has been the subject of several research reports. Keefe, Bruyette & Woods boosted their price target on shares of Chubb from $333.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Barclays lifted their target price on Chubb from $298.00 to $310.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. HSBC boosted their target price on Chubb from $302.00 to $304.00 in a research note on Wednesday, October 29th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Chubb in a research report on Wednesday, December 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $325.00 price objective on shares of Chubb in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $311.90.

Chubb Stock Down 0.2%

Shares of NYSE CB opened at $310.44 on Monday. The business has a 50-day moving average of $290.83 and a two-hundred day moving average of $282.69. The company has a market capitalization of $122.17 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 3.55 and a beta of 0.51. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $313.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, topping the consensus estimate of $5.51 by $1.98. The business had revenue of $16.15 billion for the quarter, compared to analyst estimates of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $5.72 EPS. On average, analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 12th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, December 12th. Chubb’s payout ratio is currently 16.19%.

Insider Activity

In related news, EVP Joseph F. Wayland sold 5,830 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the transaction, the executive vice president directly owned 60,593 shares of the company’s stock, valued at $18,000,968.44. This trade represents a 8.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John J. Lupica sold 23,698 shares of Chubb stock in a transaction on Monday, October 27th. The stock was sold at an average price of $281.00, for a total transaction of $6,659,138.00. Following the sale, the insider owned 90,600 shares in the company, valued at $25,458,600. This represents a 20.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 57,333 shares of company stock worth $16,629,873. Corporate insiders own 0.86% of the company’s stock.

About Chubb

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.