Sowell Financial Services LLC Buys 7,093 Shares of Chubb Limited $CB

Sowell Financial Services LLC raised its stake in shares of Chubb Limited (NYSE:CB) by 98.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,329 shares of the financial services provider’s stock after purchasing an additional 7,093 shares during the quarter. Sowell Financial Services LLC’s holdings in Chubb were worth $4,660,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. XXEC Inc. acquired a new stake in shares of Chubb during the second quarter worth $228,226,000. Berkshire Hathaway Inc purchased a new stake in shares of Chubb during the second quarter valued at $11,670,067,000. BlackRock Inc. acquired a new position in shares of Chubb in the 2nd quarter valued at $9,913,336,000. GQG Partners LLC acquired a new position in shares of Chubb in the 2nd quarter valued at $4,250,113,000. Finally, Bank of America Corp DE increased its position in shares of Chubb by 3.1% in the 1st quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider’s stock valued at $1,599,868,000 after acquiring an additional 147,876 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 0.8%

NYSE CB opened at $354.81 on Thursday. The company has a market capitalization of $136.89 billion, a PE ratio of 12.41, a P/E/G ratio of 1.57 and a beta of 0.36. The company has a fifty day moving average of $341.06 and a 200 day moving average of $337.07. Chubb Limited has a 1 year low of $272.20 and a 1 year high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, beating the consensus estimate of $6.77 by $0.89. The company had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.71 billion. Chubb had a net margin of 18.15% and a return on equity of 14.33%. During the same period in the prior year, the company earned $7.49 earnings per share. Research analysts forecast that Chubb Limited will post 27.72 earnings per share for the current year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were paid a $1.02 dividend. The ex-dividend date was Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. Chubb’s dividend payout ratio is presently 14.43%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CB. Citigroup restated a “market outperform” rating on shares of Chubb in a research note on Wednesday. The Goldman Sachs Group boosted their price target on Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. HSBC reiterated a “hold” rating and set a $359.00 price target on shares of Chubb in a research note on Wednesday, October 7th. Mizuho cut their price objective on Chubb from $347.00 to $336.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Finally, Weiss Ratings upgraded Chubb from a “buy (b)” rating to a “buy (a)” rating in a research note on Friday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $358.36.

Key Headlines Impacting Chubb

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Quarterly results exceeded expectations. Chubb reported $7.66 in adjusted earnings per share, above the $6.79 consensus estimate, while revenue reached $16.20 billion versus expectations of $15.71 billion. Earnings also increased from $7.49 per share a year earlier. Chubb quarterly earnings report
• Positive Sentiment: Underlying business momentum remained strong. Core operating income totaled approximately $2.98 billion, overseas general property-and-casualty premiums grew 6.7%, and net premiums written increased. Record investment income and higher life-insurance income also helped offset pressure in underwriting. Chubb long-term investor takeaways
• Positive Sentiment: Analyst sentiment improved in one notable instance. Zacks upgraded Chubb to a Rank #2, or Buy, citing improved earnings prospects, which could support investor interest. Zacks Chubb upgrade
• Neutral Sentiment: Management maintained an upbeat outlook. The earnings call highlighted profitability, premium growth and continued benefits from investment income, but investors are evaluating whether the strong performance is already reflected in the share price. Chubb earnings call highlights
• Negative Sentiment: Catastrophe losses pressured underwriting results. Rising catastrophe claims remain a risk for future earnings and temper the otherwise strong quarter. Cantor Fitzgerald reaffirmed a Neutral rating with a $333 price target, below the stock’s recently reported $354.81 level, while another analysis said much of the strong Q3 performance may already be reflected in the valuation. Chubb valuation analysis

Insider Transactions at Chubb

In related news, Director Michael Connors sold 5,500 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the sale, the director directly owned 12,803 shares of the company’s stock, valued at $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by corporate insiders.

About Chubb

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.