XXEC Inc. Boosts Stock Holdings in Chubb Limited $CB

XXEC Inc. raised its stake in Chubb Limited (NYSE:CB) by 473.3% during the first quarter, HoldingsChannel.com reports. The fund owned 50,041 shares of the financial services provider’s stock after purchasing an additional 41,313 shares during the quarter. Chubb comprises approximately 3.1% of XXEC Inc.’s holdings, making the stock its 16th biggest position. XXEC Inc.’s holdings in Chubb were worth $15,572,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CB. CBIZ Investment Advisory Services LLC grew its position in shares of Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. Merkkuri Wealth Advisors LLC purchased a new stake in shares of Chubb in the first quarter worth about $29,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Chubb in the third quarter worth about $31,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Chubb in the fourth quarter worth about $31,000. Finally, Ares Financial Consulting LLC bought a new position in Chubb during the fourth quarter valued at approximately $32,000. Institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In related news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CB. Deutsche Bank Aktiengesellschaft raised their price target on Chubb from $304.00 to $330.00 and gave the company a “hold” rating in a report on Monday, March 23rd. Citizens Jmp upped their price objective on Chubb from $350.00 to $365.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 22nd. Barclays lowered their target price on Chubb from $375.00 to $368.00 and set an “equal weight” rating for the company in a research report on Friday, June 12th. Piper Sandler boosted their price target on shares of Chubb from $328.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group decreased their price target on shares of Chubb from $372.00 to $362.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Chubb has a consensus rating of “Moderate Buy” and a consensus price target of $349.10.

Chubb Trading Down 0.8%

Shares of NYSE CB opened at $340.49 on Wednesday. The business’s 50 day moving average is $325.62 and its two-hundred day moving average is $322.10. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $345.67. The stock has a market capitalization of $132.06 billion, a P/E ratio of 12.02, a PEG ratio of 1.75 and a beta of 0.41.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The business had revenue of $14.93 billion during the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. As a group, research analysts expect that Chubb Limited will post 26.8 EPS for the current year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, June 12th. This is a boost from Chubb’s previous quarterly dividend of $0.97. Chubb’s payout ratio is currently 14.41%.

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.