Pointe Capital Management LLC Takes $497,000 Position in Chubb Limited $CB

Pointe Capital Management LLC bought a new position in Chubb Limited (NYSE:CB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,459 shares of the financial services provider’s stock, valued at approximately $497,000.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CB. The Goldman Sachs Group lifted their price target on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Weiss Ratings raised shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Barclays set a $387.00 target price on shares of Chubb in a research note on Tuesday, July 7th. Wells Fargo & Company reduced their target price on Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. Finally, Piper Sandler raised their price target on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $361.00.

Chubb Price Performance

CB opened at $342.90 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market capitalization of $132.29 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 1.68 and a beta of 0.39. The company’s 50 day simple moving average is $346.53 and its 200-day simple moving average is $333.79. Chubb Limited has a one year low of $265.30 and a one year high of $365.91.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping 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 $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter in the previous year, the company posted $6.14 EPS. Chubb’s revenue was up 3.6% on a year-over-year basis. Sell-side analysts anticipate that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s payout ratio is presently 14.43%.

Insiders Place Their Bets

In related news, EVP Joseph F. Wayland sold 8,502 shares of the firm’s 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 transaction, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael P. Connors sold 5,500 shares of Chubb stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.37% of the company’s stock.

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.