Pallas Capital Advisors LLC Acquires Shares of 12,566 Chubb Limited $CB

Pallas Capital Advisors LLC bought a new stake in Chubb Limited (NYSE:CB) in the 2nd quarter, Holdings Channel.com reports. The fund bought 12,566 shares of the financial services provider’s stock, valued at approximately $4,282,000.

Several other large investors have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC raised its holdings in Chubb by 148.5% during the 4th 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 during the last quarter. Frazier Financial Advisors LLC boosted its stake in shares of Chubb by 86.4% in the 1st 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 acquired a new stake in shares of Chubb during the 1st quarter worth approximately $29,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Chubb during the 4th quarter worth approximately $31,000. Finally, Ares Financial Consulting LLC bought a new stake in shares of Chubb during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Price Performance

NYSE CB opened at $341.24 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market cap of $131.65 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.70 and a beta of 0.39. The business has a 50 day simple moving average of $344.69 and a 200 day simple moving average of $332.47. Chubb Limited has a 52-week low of $265.30 and a 52-week high of $365.91.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same quarter in the previous year, the firm posted $6.14 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. Analysts anticipate that Chubb Limited will post 27.45 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Insider Activity

In other news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the transaction, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the sale, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CB shares. Atlantic Securities set a $301.00 price target on Chubb in a research note on Wednesday, July 15th. Mizuho upped their price target on Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. BMO Capital Markets lifted their price objective on shares of Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Finally, HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and boosted their price target for the company from $370.00 to $373.00 in a report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $360.09.

Chubb 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.