CrossGen Wealth LLC Acquires New Position in Chubb Limited $CB

CrossGen Wealth LLC acquired a new position in shares of Chubb Limited (NYSE:CB) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,101 shares of the financial services provider’s stock, valued at approximately $2,216,000. Chubb accounts for 2.0% of CrossGen Wealth LLC’s portfolio, making the stock its 14th biggest position.

A number of other large investors have also recently bought and sold shares of CB. Berkshire Hathaway Inc increased its position in Chubb by 9.3% in the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after buying an additional 2,916,288 shares during the period. State Street Corp boosted its holdings in shares of Chubb by 0.4% during the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after acquiring an additional 68,553 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Chubb by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after acquiring an additional 3,049,987 shares during the last quarter. GQG Partners LLC grew its position in shares of Chubb by 15.2% during the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after acquiring an additional 1,647,729 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Chubb by 9.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock worth $1,426,475,000 after acquiring an additional 427,512 shares during the period. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In other 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 completion of the sale, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.37% of the stock is currently owned by company insiders.

Chubb Trading Down 1.2%

Shares of NYSE:CB opened at $323.88 on Friday. The company has a 50 day moving average of $324.87 and a 200-day moving average of $319.94. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The firm has a market cap of $125.62 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.68 and a beta of 0.41. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67.

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

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio (DPR) is presently 14.41%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CB. Bank of America cut their price objective on shares of Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Piper Sandler raised their price target on shares of Chubb from $328.00 to $340.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. lifted their price target on Chubb from $330.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Wells Fargo & Company boosted their price objective on Chubb from $321.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group decreased their price objective on Chubb from $372.00 to $362.00 and set a “buy” rating for the company in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $349.10.

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.