Chubb Limited $CB Stock: Sowell Financial Services LLC Raises Holdings

Sowell Financial Services LLC grew its position in Chubb Limited (NYSE:CB) by 98.0% in the third quarter, HoldingsChannel reports. The fund owned 14,329 shares of the financial services provider’s stock after acquiring an additional 7,093 shares during the quarter. Sowell Financial Services LLC’s holdings in Chubb were worth $4,660,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Atticus Wealth Management LLC increased its stake in shares of Chubb by 3.7% in the 3rd quarter. Atticus Wealth Management LLC now owns 815 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 29 shares in the last quarter. Freedom Day Solutions LLC raised its holdings in Chubb by 0.4% in the 3rd quarter. Freedom Day Solutions LLC now owns 8,241 shares of the financial services provider’s stock worth $2,681,000 after purchasing an additional 31 shares during the period. Stock Yards Bank & Trust Co. raised its holdings in Chubb by 0.8% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 4,105 shares of the financial services provider’s stock worth $1,338,000 after purchasing an additional 34 shares during the period. Baker Tilly Wealth Management LLC raised its holdings in Chubb by 4.9% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 722 shares of the financial services provider’s stock worth $235,000 after purchasing an additional 34 shares during the period. Finally, Bayban boosted its position in Chubb by 7.1% during the first quarter. Bayban now owns 544 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 36 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Down 0.8%

CB stock opened at $354.81 on Thursday. Chubb Limited has a 52 week low of $272.20 and a 52 week 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 firm has a 50-day simple moving average of $341.06 and a 200-day simple moving average of $337.07. The stock has a market capitalization of $136.89 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.57 and a beta of 0.36.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share for the quarter, beating analysts’ consensus estimates of $6.77 by $0.89. The firm had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.71 billion. Chubb had a net margin of 18.15% and a return on equity of 14.33%. During the same period last year, the company posted $7.49 EPS. Equities analysts forecast that Chubb Limited will post 27.72 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, September 11th. Chubb’s payout ratio is 14.43%.

Insider Activity at Chubb

In other Chubb news, Director Michael Connors sold 5,500 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the transaction, the director owned 12,803 shares of the company’s stock, valued at $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 33,749 shares of the company’s stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on CB. Evercore reissued an “outperform” rating and issued a $374.00 price objective on shares of Chubb in a report on Friday, July 10th. HSBC restated a “hold” rating and issued a $359.00 price objective on shares of Chubb in a research report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $354.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Mizuho reduced their target price on Chubb from $347.00 to $336.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. Finally, Morgan Stanley decreased their target price on Chubb from $360.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $358.36.

Chubb News Roundup

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Quarterly results exceeded expectations. Chubb reported $7.66 in adjusted earnings per share, above the $6.79 consensus estimate, while revenue reached $16.20 billion versus expectations of $15.71 billion. Earnings also increased from $7.49 per share a year earlier. Chubb quarterly earnings report
• Positive Sentiment: Underlying business momentum remained strong. Core operating income totaled approximately $2.98 billion, overseas general property-and-casualty premiums grew 6.7%, and net premiums written increased. Record investment income and higher life-insurance income also helped offset pressure in underwriting. Chubb long-term investor takeaways
• Positive Sentiment: Analyst sentiment improved in one notable instance. Zacks upgraded Chubb to a Rank #2, or Buy, citing improved earnings prospects, which could support investor interest. Zacks Chubb upgrade
• Neutral Sentiment: Management maintained an upbeat outlook. The earnings call highlighted profitability, premium growth and continued benefits from investment income, but investors are evaluating whether the strong performance is already reflected in the share price. Chubb earnings call highlights
• Negative Sentiment: Catastrophe losses pressured underwriting results. Rising catastrophe claims remain a risk for future earnings and temper the otherwise strong quarter. Cantor Fitzgerald reaffirmed a Neutral rating with a $333 price target, below the stock’s recently reported $354.81 level, while another analysis said much of the strong Q3 performance may already be reflected in the valuation. Chubb valuation analysis

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.