Trueblood Wealth Management LLC Grows Position in Chubb Limited $CB

Trueblood Wealth Management LLC raised its position in shares of Chubb Limited (NYSE:CB) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,219 shares of the financial services provider’s stock after buying an additional 228 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Chubb were worth $1,512,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Confluence Wealth Services Inc. lifted its stake in shares of Chubb by 0.5% in the 2nd quarter. Confluence Wealth Services Inc. now owns 13,811 shares of the financial services provider’s stock valued at $4,001,000 after purchasing an additional 64 shares during the last quarter. Gratus Wealth Advisors LLC lifted its stake in shares of Chubb by 2.9% in the 2nd quarter. Gratus Wealth Advisors LLC now owns 3,503 shares of the financial services provider’s stock valued at $1,015,000 after purchasing an additional 99 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Chubb by 30.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 6,149 shares of the financial services provider’s stock valued at $1,782,000 after purchasing an additional 1,440 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in shares of Chubb by 1.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 15,985 shares of the financial services provider’s stock valued at $4,631,000 after purchasing an additional 271 shares during the last quarter. Finally, Woodmont Investment Counsel LLC lifted its stake in shares of Chubb by 3.0% in the 2nd quarter. Woodmont Investment Counsel LLC now owns 37,555 shares of the financial services provider’s stock valued at $10,880,000 after purchasing an additional 1,098 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of CB stock opened at $286.37 on Tuesday. 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. The firm has a market capitalization of $114.17 billion, a P/E ratio of 12.63, a P/E/G ratio of 3.20 and a beta of 0.54. The stock has a 50 day moving average price of $275.17 and a 200 day moving average price of $282.03.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.84 by $0.30. The firm 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%.Chubb’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $5.38 EPS. As a group, sell-side analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently issued reports on CB. Morgan Stanley lowered their price objective on Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research note on Monday, August 18th. Hsbc Global Res lowered Chubb from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Piper Sandler reaffirmed a “neutral” rating and issued a $283.00 price objective (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. UBS Group lowered their price objective on Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. Finally, Barclays lowered Chubb from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $321.00 to $298.00 in a research note on Monday, July 7th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Chubb has an average rating of “Hold” and an average target price of $303.72.

Insiders Place Their Bets

In other news, Director Michael Corbat bought 425 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is currently owned by company insiders.

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.