ZWJ Investment Counsel Inc. Raises Holdings in Chubb Limited $CB

ZWJ Investment Counsel Inc. grew its position in shares of Chubb Limited (NYSE:CB) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 186,903 shares of the financial services provider’s stock after purchasing an additional 2,005 shares during the quarter. Chubb makes up about 2.0% of ZWJ Investment Counsel Inc.’s holdings, making the stock its 15th largest position. ZWJ Investment Counsel Inc.’s holdings in Chubb were worth $54,150,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Segment Wealth Management LLC grew its holdings in shares of Chubb by 3.1% during the second quarter. Segment Wealth Management LLC now owns 2,832 shares of the financial services provider’s stock worth $820,000 after purchasing an additional 85 shares during the last quarter. Stock Yards Bank & Trust Co. grew its holdings in shares of Chubb by 43.9% during the second quarter. Stock Yards Bank & Trust Co. now owns 4,222 shares of the financial services provider’s stock worth $1,223,000 after purchasing an additional 1,288 shares during the last quarter. Ascent Group LLC grew its holdings in shares of Chubb by 26.9% during the second quarter. Ascent Group LLC now owns 5,760 shares of the financial services provider’s stock worth $1,669,000 after purchasing an additional 1,220 shares during the last quarter. Ameritas Advisory Services LLC grew its holdings in shares of Chubb by 10.7% during the second quarter. Ameritas Advisory Services LLC now owns 1,165 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 113 shares during the last quarter. Finally, Abacus Planning Group Inc. grew its holdings in shares of Chubb by 17.9% during the second quarter. Abacus Planning Group Inc. now owns 2,032 shares of the financial services provider’s stock worth $589,000 after purchasing an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

CB has been the topic of several research reports. Piper Sandler reaffirmed a “neutral” rating and set a $283.00 price objective (down previously from $335.00) on shares of Chubb in a report on Thursday, July 24th. Wolfe Research raised Chubb to a “strong-buy” rating in a report on Tuesday, September 16th. Citigroup assumed coverage on Chubb in a report on Wednesday, August 13th. They set a “buy” rating and a $326.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on Chubb from $314.00 to $324.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company lowered their price target on Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $303.24.

Chubb Price Performance

Shares of NYSE:CB opened at $283.99 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The company has a market cap of $113.22 billion, a P/E ratio of 12.53, a PEG ratio of 3.17 and a beta of 0.54. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a 50-day moving average price of $274.76 and a 200 day moving average price of $282.25.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $5.38 earnings per share. Research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were given a $0.97 dividend. The ex-dividend date was Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb’s dividend payout ratio (DPR) is presently 17.12%.

Insider Buying and Selling

In other news, Director Michael Corbat acquired 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is currently owned by insiders.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.