HBK Sorce Advisory LLC Buys Shares of 2,817 Chubb Limited $CB

HBK Sorce Advisory LLC acquired a new stake in Chubb Limited (NYSE:CB) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 2,817 shares of the financial services provider’s stock, valued at approximately $993,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cherry Tree Wealth Management LLC grew its holdings in shares of Chubb by 38.3% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 31 shares during the last quarter. Phillips Wealth Planners LLC increased its stake in Chubb by 1.8% in the 4th quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider’s stock worth $521,000 after purchasing an additional 31 shares in the last quarter. Hoxton Planning & Management LLC raised its holdings in Chubb by 4.3% during the 4th quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider’s stock worth $233,000 after buying an additional 31 shares during the period. G&S Capital LLC raised its holdings in Chubb by 1.5% during the 4th quarter. G&S Capital LLC now owns 2,271 shares of the financial services provider’s stock worth $709,000 after buying an additional 34 shares during the period. Finally, South Plains Financial Inc. lifted its stake in Chubb by 2.2% during the fourth quarter. South Plains Financial Inc. now owns 1,601 shares of the financial services provider’s stock valued at $500,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Jefferies Financial Group decreased their price objective on shares of Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. Mizuho boosted their target price on shares of Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Evercore restated an “outperform” rating and issued a $374.00 target price on shares of Chubb in a report on Friday, July 10th. Finally, Cantor Fitzgerald raised their target price on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Two equities research 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 stock. According to MarketBeat, Chubb presently has an average rating of “Hold” and a consensus target price of $360.09.

Chubb Stock Up 0.0%

CB stock opened at $343.80 on Monday. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a market cap of $132.64 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.70 and a beta of 0.39. The company has a 50 day moving average of $344.31 and a two-hundred day moving average of $332.19.

Chubb (NYSE:CB) last issued its earnings results 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 company had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. During the same quarter last year, the business posted $6.14 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities analysts anticipate that Chubb Limited will post 27.45 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is presently 14.43%.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, 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. Insiders own 0.37% of the company’s stock.

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.