Gateway Wealth Partners LLC Buys Shares of 5,214 Chubb Limited $CB

Gateway Wealth Partners LLC purchased a new position in Chubb Limited (NYSE:CB) in the first quarter, HoldingsChannel reports. The institutional investor purchased 5,214 shares of the financial services provider’s stock, valued at approximately $1,699,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Berkshire Hathaway Inc lifted its holdings in shares of Chubb by 9.3% during the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after acquiring an additional 2,916,288 shares during the last quarter. State Street Corp raised its position in Chubb by 0.4% during the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after purchasing an additional 68,553 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Chubb by 25.6% during the fourth 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 last quarter. GQG Partners LLC boosted its holdings in shares of Chubb by 15.2% in 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. Finally, Bank of America Corp DE boosted its holdings in shares of Chubb by 11.6% in the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after purchasing an additional 513,852 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Activity

In related news, COO John W. Keogh sold 23,000 shares of the 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 directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is owned by corporate insiders.

Chubb Price Performance

Shares of Chubb stock opened at $363.94 on Wednesday. The business has a 50 day moving average of $336.80 and a 200 day moving average of $327.92. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $365.29. The company has a market cap of $141.16 billion, a PE ratio of 12.87, a P/E/G ratio of 1.79 and a beta of 0.40. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same period in the previous year, the firm earned $6.14 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Chubb Limited will post 27.26 earnings per share for the current year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were given a dividend of $1.02 per share. This is an increase from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, June 12th. Chubb’s dividend payout ratio is presently 14.43%.

Analysts Set New Price Targets

CB has been the topic of several recent research reports. Cantor Fitzgerald increased their price objective on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Wells Fargo & Company cut their target price on Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a research note on Thursday, July 23rd. Atlantic Securities set a $301.00 price target on shares of Chubb in a research report on Wednesday, July 15th. Morgan Stanley lifted their price target on shares of Chubb from $330.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Finally, Wolfe Research boosted their price objective on shares of Chubb from $372.00 to $373.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $360.09.

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.