Elevation Point Wealth Partners LLC Takes Position in Chubb Limited $CB

Elevation Point Wealth Partners LLC acquired a new position in Chubb Limited (NYSE:CB) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,408 shares of the financial services provider’s stock, valued at approximately $1,843,000.

Other hedge funds have also recently made changes to their positions in the company. IMG Wealth Management Inc. purchased a new stake in shares of Chubb in the 2nd quarter valued at $25,000. Dunhill Financial LLC purchased a new position in Chubb during the 2nd quarter valued at about $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 49 shares during the period. Frazier Financial Advisors LLC grew its position in Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. Finally, Merkkuri Wealth Advisors LLC acquired a new position in Chubb in the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on CB shares. Citizens Jmp reissued a “market outperform” rating and set a $400.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. Barclays set a $387.00 target price on shares of Chubb in a research note on Tuesday, July 7th. Mizuho raised their price target on shares of Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. The Goldman Sachs Group boosted their price target on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings raised Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Chubb currently has an average rating of “Hold” and an average price target of $361.00.

Insider Buying and Selling at Chubb

In other Chubb news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by insiders.

Chubb Stock Up 0.0%

CB stock opened at $341.15 on Monday. The company’s 50 day moving average price is $345.88 and its 200 day moving average price is $333.46. The firm has a market capitalization of $131.62 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.65 and a beta of 0.39. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the previous year, the firm earned $6.14 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts anticipate that Chubb Limited will post 27.49 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s payout ratio is 14.43%.

About Chubb

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.