Saturna Capital Corp Sells 2,000 Shares of Chubb Limited $CB

Saturna Capital Corp trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 63.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,170 shares of the financial services provider’s stock after selling 2,000 shares during the quarter. Saturna Capital Corp’s holdings in Chubb were worth $381,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CB. ABN Amro Investment Solutions bought a new position in shares of Chubb in the 1st quarter valued at about $16,637,000. Oslo Pensjonsforsikring AS bought a new stake in Chubb during the first quarter worth approximately $422,000. Andra AP fonden increased its stake in Chubb by 347.6% during the first quarter. Andra AP fonden now owns 62,043 shares of the financial services provider’s stock worth $20,222,000 after acquiring an additional 48,183 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Chubb during the first quarter valued at approximately $58,000. Finally, Convergence Investment Partners LLC raised its position in Chubb by 2.6% during the first quarter. Convergence Investment Partners LLC now owns 6,125 shares of the financial services provider’s stock valued at $1,996,000 after purchasing an additional 158 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Key Chubb News

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Chubb reported Q2 earnings of $7.26 per share, topping consensus estimates and improving from $6.14 a year ago, which suggests stronger-than-expected profitability. Chubb (CB) Tops Q2 Earnings Estimates
• Positive Sentiment: The company said core operating income rose 14.6% and consolidated net premiums written increased 3.6% to $14.7 billion, signaling solid underwriting and premium growth. Chubb Reports Second Quarter Per Share Net Income…
• Positive Sentiment: The property and casualty combined ratio of 83.8% indicates strong underwriting discipline, which is favorable for insurers. Chubb Reports Second Quarter Per Share Net Income…
• Neutral Sentiment: JPMorgan raised its price target on Chubb to $370 while keeping a neutral rating, reflecting improved earnings expectations but not a strong change in stance. Benzinga report on JPMorgan price target increase
• Neutral Sentiment: Barclays reiterated a hold rating ahead of earnings, suggesting some analysts remained cautious despite the company’s strong fundamentals. Barclays Remains a Hold on Chubb (CB)

Chubb Stock Up 0.7%

Shares of NYSE CB opened at $355.04 on Wednesday. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $365.29. The firm has a 50-day simple moving average of $333.63 and a two-hundred day simple moving average of $326.34. The company has a market cap of $137.71 billion, a P/E ratio of 12.54, a PEG ratio of 1.83 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating analysts’ consensus estimates of $6.78 by $0.48. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The firm had revenue of $14.71 billion for the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter in the prior year, the firm posted $6.14 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Research analysts anticipate that Chubb Limited will post 26.77 earnings per share for the current year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, June 12th. This is an increase from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio (DPR) is presently 14.41%.

Wall Street Analyst Weigh In

CB has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their target price on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Bank of America decreased their price target on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. BMO Capital Markets raised their price target on Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Piper Sandler lifted their price objective on shares of Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $359.09.

Insider Buying and Selling

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

Chubb Profile

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.