Drive Wealth Management LLC Boosts Stake in Chubb Limited $CB

Drive Wealth Management LLC raised its holdings in shares of Chubb Limited (NYSE:CB) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,350 shares of the financial services provider’s stock after buying an additional 59 shares during the period. Drive Wealth Management LLC’s holdings in Chubb were worth $392,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. GQG Partners LLC boosted its stake in shares of Chubb by 112.1% during the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock valued at $2,836,899,000 after purchasing an additional 4,964,298 shares during the period. Ameriprise Financial Inc. boosted 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 valued at $1,418,398,000 after buying an additional 304,751 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 acquiring an additional 30,334 shares in the last quarter. Nuveen LLC purchased a new position in shares of Chubb during the first quarter worth approximately $562,221,000. Finally, AQR Capital Management LLC raised its stake in shares of Chubb by 19.6% during the first quarter. AQR Capital Management LLC now owns 1,410,449 shares of the financial services provider’s stock valued at $423,826,000 after acquiring an additional 231,404 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Chubb Stock Performance

Shares of Chubb stock opened at $268.16 on Tuesday. The company has a market capitalization of $106.91 billion, a PE ratio of 11.83, a P/E/G ratio of 3.02 and a beta of 0.54. The company has a 50-day simple moving average of $277.34 and a two-hundred day simple moving average of $280.85. Chubb Limited has a one year low of $252.16 and a one year 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 issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.38 EPS. Research analysts expect 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 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 dividend yield of 1.4%. Chubb’s dividend payout ratio is presently 17.12%.

Insider Activity

In other Chubb news, Director Michael Corbat acquired 425 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CB. Morgan Stanley dropped their price objective on Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. Piper Sandler restated a “neutral” rating and set a $283.00 price target (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Jefferies Financial Group lifted their price objective on Chubb from $295.00 to $297.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. Evercore ISI increased their target price on shares of Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Finally, Wells Fargo & Company boosted their price target on shares of Chubb from $267.00 to $277.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $305.28.

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.