Evolve Private Wealth LLC Acquires New Holdings in Chubb Limited $CB

Evolve Private Wealth LLC bought a new position in shares of Chubb Limited (NYSE:CB) in the fourth quarter, HoldingsChannel reports. The firm bought 10,886 shares of the financial services provider’s stock, valued at approximately $3,408,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Berkshire Hathaway Inc boosted its holdings in shares of Chubb by 15.9% in the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after buying an additional 4,299,111 shares during the period. Norges Bank bought a new stake in Chubb in the 4th quarter valued at $1,081,190,000. Price T Rowe Associates Inc. MD boosted its stake in Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after purchasing an additional 3,049,987 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Chubb during the 4th quarter worth about $795,378,000. Finally, GQG Partners LLC increased its holdings in Chubb by 15.2% during the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after purchasing an additional 1,647,729 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Piper Sandler boosted their price target on Chubb from $328.00 to $340.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Wells Fargo & Company lifted their target price on Chubb from $321.00 to $333.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Keefe, Bruyette & Woods boosted their target price on Chubb from $373.00 to $374.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Chubb from $304.00 to $330.00 and gave the stock a “hold” rating in a research note on Monday, March 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $330.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $349.10.

Chubb Stock Down 0.2%

CB stock opened at $328.28 on Thursday. The company has a market cap of $127.33 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 1.68 and a beta of 0.41. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67. The business has a 50 day moving average price of $324.94 and a two-hundred day moving average price of $319.74. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The company had revenue of $14.93 billion for the quarter. Analysts anticipate that Chubb Limited will post 26.8 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be paid a $1.02 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, June 12th. Chubb’s dividend payout ratio is 14.41%.

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.