Chubb Limited $CB Position Increased by Abacus Planning Group Inc.

Abacus Planning Group Inc. increased its position in Chubb Limited (NYSE:CB) by 17.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,032 shares of the financial services provider’s stock after purchasing an additional 309 shares during the period. Abacus Planning Group Inc.’s holdings in Chubb were worth $589,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GQG Partners LLC lifted its position in Chubb by 112.1% in the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after buying an additional 4,964,298 shares in the last quarter. Demars Financial Group LLC lifted its position in Chubb by 16.4% in the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock worth $1,884,004,000 after buying an additional 878,177 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Chubb by 6.9% in the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after buying an additional 304,751 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Chubb by 1.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider’s stock worth $840,756,000 after buying an additional 30,334 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Chubb in the 1st quarter worth approximately $562,221,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Performance

NYSE CB opened at $281.73 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $112.32 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 3.18 and a beta of 0.54. The company’s fifty day moving average is $274.46 and its two-hundred day moving average is $282.32. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91.

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

Chubb Dividend Announcement

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

Insider Buying and Selling at Chubb

In other Chubb news, Director Michael Corbat bought 425 shares of the firm’s stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CB shares. Cantor Fitzgerald upgraded shares of Chubb to a “hold” rating in a research report on Wednesday, August 13th. Hsbc Global Res downgraded shares of Chubb from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Wells Fargo & Company reduced their price objective on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a research note on Thursday, July 24th. Piper Sandler reiterated a “neutral” rating and issued a $283.00 price objective (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. Finally, Citigroup assumed coverage on shares of Chubb in a report on Wednesday, August 13th. They issued a “buy” rating and a $326.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus target price of $303.24.

Chubb 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.