Angeles Wealth Management LLC Has $462,000 Position in Chubb Limited $CB

Angeles Wealth Management LLC increased its position in shares of Chubb Limited (NYSE:CB) by 17.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,593 shares of the financial services provider’s stock after purchasing an additional 236 shares during the quarter. Angeles Wealth Management LLC’s holdings in Chubb were worth $462,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. North Capital Inc. acquired a new stake in Chubb during the 1st quarter worth approximately $26,000. IMA Advisory Services Inc. acquired a new stake in Chubb during the 1st quarter worth approximately $31,000. 1248 Management LLC acquired a new stake in Chubb during the 1st quarter worth approximately $31,000. WPG Advisers LLC acquired a new stake in Chubb during the 1st quarter worth approximately $33,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in Chubb by 391.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 94 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Chubb news, Director Michael Corbat purchased 425 shares of the firm’s stock in a transaction dated Friday, July 25th. The shares were bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the purchase, the director owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.77% of the company’s stock.

Chubb Trading Down 0.0%

Shares of CB opened at $268.15 on Friday. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The business’s fifty day moving average is $277.40 and its 200-day moving average is $281.24. 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 cap of $106.91 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 3.02 and a beta of 0.54.

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, beating the consensus estimate of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter last year, the company posted $5.38 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were paid a $0.97 dividend. The ex-dividend date was Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb’s dividend payout ratio (DPR) is presently 17.12%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CB shares. Piper Sandler reissued a “neutral” rating and set a $283.00 price target (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. Bank of America lifted their price objective on Chubb from $276.00 to $279.00 and gave the company an “underperform” rating in a report on Monday, October 13th. The Goldman Sachs Group lifted their price objective on Chubb from $299.00 to $303.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Citigroup started coverage on Chubb in a report on Wednesday, August 13th. They issued a “buy” rating and a $326.00 price objective for the company. Finally, HSBC cut Chubb from a “buy” rating to a “hold” rating and dropped their price objective for the company from $317.00 to $300.00 in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Chubb has an average rating of “Hold” and a consensus price target of $305.28.

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.