NEOS Investment Management LLC Grows Stock Position in Chubb Limited $CB

NEOS Investment Management LLC grew its position in shares of Chubb Limited (NYSE:CB) by 13.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,671 shares of the financial services provider’s stock after buying an additional 7,174 shares during the period. NEOS Investment Management LLC’s holdings in Chubb were worth $20,332,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC raised its stake in shares of Chubb by 38.3% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 31 shares during the period. Phillips Wealth Planners LLC boosted its stake in Chubb by 1.8% in the 4th quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider’s stock worth $521,000 after purchasing an additional 31 shares during the period. Hoxton Planning & Management LLC grew its holdings in Chubb by 4.3% during the 4th quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider’s stock valued at $233,000 after buying an additional 31 shares in the last quarter. South Plains Financial Inc. increased its position in shares of Chubb by 2.2% during the fourth quarter. South Plains Financial Inc. now owns 1,601 shares of the financial services provider’s stock valued at $500,000 after buying an additional 34 shares during the period. Finally, Stock Yards Bank & Trust Co. lifted its holdings in shares of Chubb by 0.8% in the first quarter. Stock Yards Bank & Trust Co. now owns 4,105 shares of the financial services provider’s stock worth $1,338,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In other news, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Connors sold 5,500 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the transaction, the director owned 12,803 shares of the company’s stock, valued at $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company’s stock.

Chubb Stock Performance

Chubb stock opened at $341.16 on Friday. The company has a market capitalization of $131.62 billion, a PE ratio of 12.07, a P/E/G ratio of 1.66 and a beta of 0.37. The firm has a fifty day simple moving average of $348.27 and a two-hundred day simple moving average of $334.45. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.14 EPS. Research analysts expect that Chubb Limited will post 27.35 EPS for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s payout ratio is presently 14.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Atlantic Securities set a $301.00 price objective on Chubb in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $354.00 price target on shares of Chubb in a report on Wednesday, July 22nd. Barclays set a $387.00 price objective on Chubb in a report on Tuesday, July 7th. HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and increased their price target for the stock from $370.00 to $373.00 in a report on Monday, July 6th. Finally, Evercore reiterated an “outperform” rating and issued a $374.00 price objective on shares of Chubb in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Chubb presently has an average rating of “Hold” and an average target price of $361.00.

Chubb Company 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.