Prestige Wealth Management Group LLC Boosts Stock Position in Chubb Limited (NYSE:CB)

Prestige Wealth Management Group LLC boosted its holdings in shares of Chubb Limited (NYSE:CB) by 42.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,421 shares of the financial services provider’s stock after purchasing an additional 720 shares during the period. Prestige Wealth Management Group LLC’s holdings in Chubb were worth $620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bard Financial Services Inc. lifted its position in shares of Chubb by 3.7% in the 1st quarter. Bard Financial Services Inc. now owns 1,130 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 40 shares during the period. Parkside Financial Bank & Trust boosted its position in Chubb by 0.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock valued at $1,917,000 after acquiring an additional 40 shares in the last quarter. Equitable Trust Co. grew its holdings in shares of Chubb by 1.4% during the 1st quarter. Equitable Trust Co. now owns 2,986 shares of the financial services provider’s stock worth $774,000 after acquiring an additional 41 shares during the period. Quotient Wealth Partners LLC raised its position in shares of Chubb by 4.1% in the 2nd quarter. Quotient Wealth Partners LLC now owns 1,051 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 41 shares in the last quarter. Finally, Drive Wealth Management LLC lifted its stake in shares of Chubb by 3.6% in the 2nd quarter. Drive Wealth Management LLC now owns 1,183 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 41 shares during the period. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on shares of Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. JMP Securities upped their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 24th. William Blair lowered shares of Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. Morgan Stanley cut their price target on Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Bank of America lifted their price objective on Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Chubb currently has an average rating of “Hold” and an average price target of $274.70.

Chubb Stock Performance

Shares of CB stock traded up $0.17 during trading hours on Friday, reaching $287.50. The company had a trading volume of 1,722,890 shares, compared to its average volume of 1,613,882. The firm has a market cap of $116.74 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 5.59 and a beta of 0.66. The business has a fifty day moving average price of $268.91 and a 200-day moving average price of $260.76. Chubb Limited has a one year low of $202.55 and a one year high of $293.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.92 EPS. Sell-side analysts predict that Chubb Limited will post 21.2 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a $0.91 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.27%. Chubb’s payout ratio is 16.16%.

Insider Buying and Selling at Chubb

In related news, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the transaction, the executive vice president now owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Chubb news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the transaction, the director now directly owns 39,172 shares in the company, valued at $11,261,558.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. Insiders sold a total of 33,981 shares of company stock worth $9,504,054 in the last three months. 0.86% of the stock is currently owned by company insiders.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.