First Trust Direct Indexing L.P. Acquires 2,243 Shares of Chubb Limited (NYSE:CB)

First Trust Direct Indexing L.P. boosted its holdings in shares of Chubb Limited (NYSE:CB) by 13.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,552 shares of the financial services provider’s stock after acquiring an additional 2,243 shares during the period. First Trust Direct Indexing L.P.’s holdings in Chubb were worth $5,350,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Pathway Financial Advisers LLC bought a new position in shares of Chubb during the first quarter valued at $25,000. Beacon Capital Management LLC increased its position in Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after buying an additional 42 shares in the last quarter. Chilton Capital Management LLC bought a new position in shares of Chubb in the second quarter worth approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Chubb during the second quarter worth about $28,000. Finally, Wellington Shields Capital Management LLC bought a new stake in shares of Chubb during the first quarter valued at approximately $29,000. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of NYSE:CB traded down $0.01 on Wednesday, hitting $287.19. 396,427 shares of the company were exchanged, compared to its average volume of 1,597,966. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average price is $287.78 and its 200 day moving average price is $270.23. Chubb Limited has a 1-year low of $212.82 and a 1-year high of $302.05. The firm has a market capitalization of $116.62 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 5.87 and a beta of 0.66.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, topping analysts’ consensus estimates of $4.93 by $0.79. The company had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.95 EPS. Sell-side analysts predict that Chubb Limited will post 21.32 EPS for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were issued a $0.91 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.27%. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

Insiders Place Their Bets

In related news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now owns 553,664 shares in the company, valued at approximately $160,341,094.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the sale, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,636 shares of company stock valued at $24,874,208. 0.86% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $290.00 to $291.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Piper Sandler lifted their price objective on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Bank of America increased their price target on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada increased their price target on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $283.00.

Chubb Company Profile

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.