Everest Financial Group LLC Buys New Position in Chubb Limited $CB

Everest Financial Group LLC bought a new stake in shares of Chubb Limited (NYSE:CB) in the first quarter, Holdings Channel.com reports. The fund bought 2,432 shares of the financial services provider’s stock, valued at approximately $793,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc boosted its stake in shares of Chubb by 9.3% in the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares during the last quarter. State Street Corp increased its position in shares of Chubb by 0.4% during the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after buying an additional 68,553 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Chubb by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after buying an additional 3,049,987 shares during the last quarter. GQG Partners LLC raised its stake in Chubb by 15.2% during the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock worth $3,895,627,000 after buying an additional 1,647,729 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after buying an additional 513,852 shares during the period. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 1.8%

Shares of NYSE CB opened at $359.78 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 0.20. The firm has a market cap of $139.55 billion, a PE ratio of 12.73, a P/E/G ratio of 1.80 and a beta of 0.40. The company’s fifty day simple moving average is $335.55 and its 200 day simple moving average is $327.09. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $365.29.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm had revenue of $16.01 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same period in the previous year, the firm posted $6.14 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Chubb Limited will post 27.15 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were paid a $1.02 dividend. The ex-dividend date was Friday, June 12th. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. This is a boost from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio (DPR) is 14.43%.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CB shares. Piper Sandler upped their price target on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Mizuho lifted their price objective on Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Atlantic Securities set a $301.00 price objective on Chubb in a research note on Wednesday, July 15th. Citigroup restated a “market outperform” rating on shares of Chubb in a research report on Wednesday. Finally, HSBC cut Chubb from a “buy” rating to a “hold” rating and raised their target price for the stock from $370.00 to $373.00 in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $360.09.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.