InTrack Investment Management Inc Grows Stock Holdings in Chubb Limited $CB

InTrack Investment Management Inc boosted its holdings in Chubb Limited (NYSE:CB) by 155.3% in the second quarter, Holdings Channel reports. The institutional investor owned 5,712 shares of the financial services provider’s stock after acquiring an additional 3,475 shares during the quarter. InTrack Investment Management Inc’s holdings in Chubb were worth $1,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Modern Wealth Management LLC boosted its holdings in Chubb by 6.2% in the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock valued at $744,000 after purchasing an additional 143 shares during the period. Jump Financial LLC boosted its holdings in Chubb by 633.6% in the 1st quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider’s stock valued at $2,470,000 after purchasing an additional 7,065 shares during the period. Legato Capital Management LLC boosted its holdings in Chubb by 120.9% in the 1st quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider’s stock valued at $3,080,000 after purchasing an additional 5,582 shares during the period. Davis Rea LTD. bought a new position in Chubb in the 1st quarter valued at $5,117,000. Finally, First Horizon Advisors Inc. boosted its holdings in Chubb by 3.3% in the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider’s stock valued at $13,070,000 after purchasing an additional 1,375 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CB has been the subject of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Chubb in a report on Wednesday. Piper Sandler reissued a “neutral” rating and issued a $283.00 price target (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. Jefferies Financial Group raised their price target on shares of Chubb from $295.00 to $297.00 and gave the company a “hold” rating in a report on Tuesday. Keefe, Bruyette & Woods raised their price objective on shares of Chubb from $324.00 to $333.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Morgan Stanley lowered their price objective on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chubb has an average rating of “Hold” and an average price target of $304.33.

Insider Buying and Selling

In other Chubb news, Director Michael Corbat bought 425 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director directly owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is currently owned by insiders.

Chubb Stock Performance

Chubb stock opened at $287.17 on Thursday. The firm’s fifty day moving average price is $276.00 and its 200-day moving average price is $282.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market cap of $114.49 billion, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 3.26 and a beta of 0.54. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.84 by $0.30. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations 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 company earned $5.38 EPS. On average, equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Chubb Company Profile

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.