Chartwell Investment Partners LLC grew its stake in Chubb Ltd (NYSE:CB) by 64.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,000 shares of the financial services provider’s stock after purchasing an additional 14,500 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Chubb were worth $4,685,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. State of Michigan Retirement System boosted its stake in shares of Chubb by 10.9% in the second quarter. State of Michigan Retirement System now owns 115,239 shares of the financial services provider’s stock worth $14,592,000 after acquiring an additional 11,362 shares during the last quarter. Trust Co. of Virginia VA lifted its holdings in Chubb by 6.8% in the 2nd quarter. Trust Co. of Virginia VA now owns 65,320 shares of the financial services provider’s stock valued at $8,271,000 after purchasing an additional 4,162 shares in the last quarter. Mattern Wealth Management LLC boosted its stake in Chubb by 15.8% during the 2nd quarter. Mattern Wealth Management LLC now owns 8,178 shares of the financial services provider’s stock worth $1,035,000 after purchasing an additional 1,118 shares during the last quarter. Sciencast Management LP purchased a new stake in shares of Chubb during the second quarter worth $3,897,000. Finally, PhiloSmith Capital Corp raised its position in shares of Chubb by 10.2% in the second quarter. PhiloSmith Capital Corp now owns 86,750 shares of the financial services provider’s stock valued at $10,985,000 after buying an additional 8,000 shares during the last quarter. 87.42% of the stock is owned by institutional investors and hedge funds.
Shares of CB stock opened at $127.24 on Friday. Chubb Ltd has a 1-year low of $87.35 and a 1-year high of $167.74. The firm has a market cap of $57.43 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. The company has a 50-day moving average of $129.08 and a two-hundred day moving average of $129.18. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.33 and a quick ratio of 0.31.
Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.10. Chubb had a net margin of 6.10% and a return on equity of 5.98%. The firm had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same period in the prior year, the business posted $2.60 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts anticipate that Chubb Ltd will post 6.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This is a boost from Chubb’s previous quarterly dividend of $0.75. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.45%. Chubb’s payout ratio is presently 30.86%.
Several analysts recently issued reports on the stock. William Blair raised shares of Chubb from an “underperform” rating to a “market perform” rating in a research note on Monday, July 20th. Evercore ISI upgraded Chubb from an “in-line” rating to an “outperform” rating and set a $157.00 price target for the company in a research report on Thursday, July 16th. Zacks Investment Research downgraded Chubb from a “hold” rating to a “sell” rating and set a $133.00 price objective on the stock. in a research report on Thursday, July 9th. Piper Sandler boosted their price objective on Chubb from $131.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 23rd. Finally, MKM Partners cut their target price on Chubb from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $147.50.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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