Chubb Limited $CB Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its stake in Chubb Limited (NYSE:CB) by 24.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 284,689 shares of the financial services provider’s stock after acquiring an additional 56,585 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.07% of Chubb worth $80,795,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CB. Peoples Bank KS acquired a new stake in Chubb in the first quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in Chubb in the first quarter worth approximately $25,000. North Capital Inc. acquired a new stake in Chubb in the first quarter worth approximately $26,000. IMA Advisory Services Inc. acquired a new stake in shares of Chubb in the first quarter valued at $31,000. Finally, 1248 Management LLC acquired a new stake in shares of Chubb in the first quarter valued at $31,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Stock Up 0.8%

Shares of NYSE:CB opened at $274.36 on Friday. The firm has a 50 day simple moving average of $273.84 and a 200 day simple moving average of $283.08. The company has a market cap of $109.38 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 3.07 and a beta of 0.56. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.38 earnings per share. As a group, research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb’s dividend payout ratio is currently 17.12%.

Insider Buying and Selling

In other news, insider John J. Lupica sold 5,513 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares of the company’s stock, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares of the company’s stock, valued at $661,010. This represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.77% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CB has been the subject of several research analyst reports. Cantor Fitzgerald upgraded Chubb to a “hold” rating in a report on Wednesday, August 13th. Evercore ISI set a $312.00 price target on shares of Chubb in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods upped their price target on shares of Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Barclays lowered shares of Chubb from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $321.00 to $298.00 in a research note on Monday, July 7th. Finally, Piper Sandler reissued a “neutral” rating and set a $283.00 target price (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Chubb presently has an average rating of “Hold” and an average price target of $303.06.

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.