Empowered Funds LLC Takes Position in Chubb Limited $CB

Empowered Funds LLC purchased a new position in Chubb Limited (NYSE:CB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,891 shares of the financial services provider’s stock, valued at approximately $9,844,000.

Several other hedge funds have also recently made changes to their positions in the stock. United Capital Financial Advisors LLC bought a new position in shares of Chubb during the 2nd quarter valued at $5,959,000. Brooks Moore & Associates Inc. bought a new stake in shares of Chubb in the second quarter worth $2,736,000. Hamilton Capital LLC purchased a new stake in Chubb during the second quarter valued at $252,000. Equitable Holdings Inc. purchased a new stake in Chubb during the second quarter valued at $4,139,000. Finally, Centaurus Financial Inc. bought a new position in Chubb in the second quarter valued at about $1,552,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CB. Atlantic Securities set a $301.00 price target on shares of Chubb in a research report on Wednesday, July 15th. Wells Fargo & Company cut their target price on shares of Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a research report on Thursday, July 23rd. Morgan Stanley upped their target price on shares of Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, August 19th. Citigroup reiterated a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. Finally, Barclays set a $387.00 price target on shares of Chubb in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $361.00.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, 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 filing with the SEC, which is available at the SEC website. Also, Director Michael P. Connors sold 5,500 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This represents a 30.05% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is currently owned by insiders.

Chubb Stock Up 0.6%

CB opened at $340.34 on Friday. 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 Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The firm’s fifty day moving average is $347.46 and its 200 day moving average is $333.97. The stock has a market cap of $131.30 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.65 and a beta of 0.39.

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 return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. During the same quarter in the prior year, the business posted $6.14 EPS. Chubb’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, sell-side analysts forecast that Chubb Limited will post 27.35 earnings per share for the current fiscal year.

Chubb Announces Dividend

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