Sone Capital Management LLC Invests $10.45 Million in Chubb Limited $CB

Sone Capital Management LLC bought a new stake in shares of Chubb Limited (NYSE:CB) during the second quarter, Holdings Channel reports. The fund bought 30,674 shares of the financial services provider’s stock, valued at approximately $10,452,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CB. IMG Wealth Management Inc. purchased a new position in Chubb during the second quarter valued at $25,000. Dunhill Financial LLC acquired a new stake in shares of Chubb in the second quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its stake 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 worth $26,000 after purchasing an additional 49 shares in the last quarter. Frazier Financial Advisors LLC increased its stake in shares of Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. Finally, Merkkuri Wealth Advisors LLC acquired a new position in shares of Chubb during the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction that occurred 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 represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value 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 approximately $12,302,860.46. This represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company’s stock.

Chubb Stock Performance

NYSE:CB opened at $345.63 on Tuesday. The company’s 50-day moving average price is $346.25 and its 200-day moving average price is $333.69. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a market cap of $133.34 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.65 and a beta of 0.39. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter in the prior year, the company earned $6.14 EPS. Chubb’s revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts forecast that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CB shares. Keefe, Bruyette & Woods raised their price target on shares of Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Piper Sandler boosted their price objective on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. increased their target price on Chubb from $340.00 to $370.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Cantor Fitzgerald raised their target price on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group lifted their price target on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Chubb presently has an average rating of “Hold” and an average target price of $361.00.

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.