Concurrent Investment Advisors LLC Increases Stock Position in Chubb Limited $CB

Concurrent Investment Advisors LLC boosted its stake in Chubb Limited (NYSE:CB) by 46.2% during the second quarter, HoldingsChannel reports. The firm owned 19,323 shares of the financial services provider’s stock after buying an additional 6,104 shares during the period. Concurrent Investment Advisors LLC’s holdings in Chubb were worth $5,598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CB. Opal Wealth Advisors LLC purchased a new stake in Chubb in the first quarter valued at approximately $25,000. North Capital Inc. purchased a new stake in Chubb in the first quarter valued at approximately $26,000. IMA Advisory Services Inc. purchased a new stake in Chubb in the first quarter valued at approximately $31,000. 1248 Management LLC purchased a new stake in Chubb in the first quarter valued at approximately $31,000. Finally, WPG Advisers LLC purchased a new stake in Chubb in the first quarter valued at approximately $33,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on CB shares. Jefferies Financial Group lifted their price target on shares of Chubb from $295.00 to $297.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. Evercore ISI lifted their price target on shares of Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Piper Sandler reissued a “neutral” rating and set a $283.00 price target (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Wolfe Research raised shares of Chubb to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $324.00 to $333.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $306.82.

Insider Activity at Chubb

In related news, Director Michael Corbat purchased 425 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares in the company, valued at approximately $661,010. The trade was a 20.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is currently owned by insiders.

Chubb Stock Down 0.4%

Shares of NYSE CB opened at $283.08 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The firm’s fifty day moving average is $276.67 and its 200 day moving average is $281.80. The company has a market cap of $112.86 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 3.18 and a beta of 0.54.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the previous year, the firm earned $5.38 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts expect 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. Investors of record on Friday, September 12th were paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb’s payout ratio is presently 17.12%.

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.