L2 Asset Management LLC Takes $697,000 Position in Chubb Limited $CB

L2 Asset Management LLC bought a new stake in shares of Chubb Limited (NYSE:CB) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,046 shares of the financial services provider’s stock, valued at approximately $697,000.

Several other large investors have also added to or reduced their stakes in CB. Cherry Tree Wealth Management LLC raised its holdings in Chubb by 38.3% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 31 shares in the last quarter. Phillips Wealth Planners LLC increased its position in shares of Chubb by 1.8% during the fourth quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider’s stock valued at $521,000 after buying an additional 31 shares during the period. Hoxton Planning & Management LLC increased its position in shares of Chubb by 4.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider’s stock valued at $233,000 after buying an additional 31 shares during the period. South Plains Financial Inc. raised its stake in Chubb by 2.2% in the fourth quarter. South Plains Financial Inc. now owns 1,601 shares of the financial services provider’s stock worth $500,000 after buying an additional 34 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. raised its stake in Chubb by 0.8% in the first quarter. Stock Yards Bank & Trust Co. now owns 4,105 shares of the financial services provider’s stock worth $1,338,000 after buying an additional 34 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $354.00 price objective on shares of Chubb in a report on Wednesday, July 22nd. UBS Group increased their target price on Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. The Goldman Sachs Group raised their target price on Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Citizens Jmp restated a “market outperform” rating and set a $400.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods upped their price target on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Two investment 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 assigned a Sell rating to the stock. According to MarketBeat, Chubb currently has an average rating of “Hold” and an average target price of $361.00.

Chubb Price Performance

CB stock opened at $345.63 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 firm has a 50 day moving average price of $346.25 and a 200-day moving average price of $333.69. Chubb Limited has a 52-week low of $265.30 and a 52-week high of $365.91. The firm has a market capitalization of $133.34 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.65 and a beta of 0.39.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.49. The company had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.14 EPS. Equities research analysts forecast that Chubb Limited will post 27.49 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 issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s payout ratio is 14.43%.

About Chubb

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.