NewEdge Advisors LLC Has $31.50 Million Holdings in Chubb Limited $CB

NewEdge Advisors LLC decreased its stake in shares of Chubb Limited (NYSE:CB) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,634 shares of the financial services provider’s stock after selling 6,829 shares during the period. NewEdge Advisors LLC’s holdings in Chubb were worth $31,496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Financial Solutions Advisory Group Inc. acquired a new stake in shares of Chubb during the first quarter worth $271,000. Allen Capital Group LLC bought a new position in Chubb during the 1st quarter worth about $206,000. Axiom Investment Management LLC acquired a new stake in shares of Chubb in the 1st quarter valued at about $91,000. Segall Bryant & Hamill LLC bought a new stake in shares of Chubb in the first quarter valued at about $5,969,000. Finally, Verus Capital Partners LLC acquired a new position in shares of Chubb during the first quarter worth about $1,342,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on CB. JPMorgan Chase & Co. increased their price objective on Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Bank of America reduced their price target on Chubb from $286.00 to $271.00 and set an “underperform” rating for the company in a research report on Tuesday, April 14th. Piper Sandler lifted their price objective on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Atlantic Securities set a $301.00 price objective on shares of Chubb in a research report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $360.09.

Insider Activity

In other Chubb news, COO John W. Keogh sold 23,000 shares of the company’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 transaction, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This represents a 10.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the sale, the executive vice president directly owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This represents a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.37% of the company’s stock.

Chubb Stock Down 1.1%

NYSE:CB opened at $350.17 on Friday. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. The firm has a market capitalization of $135.10 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.75 and a beta of 0.39. 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 stock’s 50 day moving average price is $341.33 and its two-hundred day moving average price is $330.43.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating the consensus estimate of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.14 EPS. Equities research analysts expect that Chubb Limited will post 27.45 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, June 12th. This is a positive change from Chubb’s previous quarterly dividend of $0.97. Chubb’s payout ratio is currently 14.43%.

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.