Summit Global Investments Acquires Shares of 1,525 Chubb Limited $CB

Summit Global Investments bought a new position in Chubb Limited (NYSE:CB) in the second quarter, HoldingsChannel reports. The fund bought 1,525 shares of the financial services provider’s stock, valued at approximately $520,000.

Other institutional investors also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC raised its holdings 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 acquiring an additional 49 shares in the last quarter. Frazier Financial Advisors LLC boosted its position in Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Merkkuri Wealth Advisors LLC purchased a new position in Chubb in the first quarter valued at about $29,000. Laurel Wealth Advisors LLC purchased a new position in Chubb in the fourth quarter valued at about $31,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Chubb during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

CB has been the subject of several research reports. Wells Fargo & Company reduced their price target on Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Piper Sandler increased their price objective on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Citizens Jmp reaffirmed a “market outperform” rating and set a $400.00 price objective on shares of Chubb in a research report on Wednesday, July 22nd. UBS Group lifted their target price on shares of Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Chubb from $340.00 to $370.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $360.09.

Chubb Price Performance

Shares of NYSE:CB opened at $343.80 on Friday. The stock has a market capitalization of $132.64 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.70 and a beta of 0.39. The business has a 50-day moving average of $344.31 and a two-hundred day moving average of $331.99. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week 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 issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same quarter in the prior year, the firm posted $6.14 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities research analysts predict that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Announces Dividend

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

Insider Activity at Chubb

In other news, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction 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 in the company, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.37% of the company’s stock.

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.