Axxcess Wealth Management LLC Increases Stock Position in Chubb Limited (NYSE:CB)

Axxcess Wealth Management LLC raised its position in shares of Chubb Limited (NYSE:CB) by 110.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,932 shares of the financial services provider’s stock after buying an additional 3,634 shares during the period. Axxcess Wealth Management LLC’s holdings in Chubb were worth $1,796,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital World Investors lifted its position in shares of Chubb by 0.4% in the 4th quarter. Capital World Investors now owns 10,311,415 shares of the financial services provider’s stock worth $2,330,272,000 after purchasing an additional 43,845 shares during the period. Norges Bank purchased a new stake in shares of Chubb in the 4th quarter worth about $957,756,000. Ontario Teachers Pension Plan Board lifted its position in shares of Chubb by 0.9% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 2,698,582 shares of the financial services provider’s stock worth $609,880,000 after purchasing an additional 24,323 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Chubb by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,266,484 shares of the financial services provider’s stock worth $512,225,000 after purchasing an additional 45,318 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Chubb by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,134,614 shares of the financial services provider’s stock worth $482,404,000 after acquiring an additional 52,961 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and issued a $282.00 price target on shares of Chubb in a research note on Monday, April 1st. JMP Securities raised their price objective on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research note on Wednesday. William Blair lowered shares of Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Morgan Stanley reduced their price objective on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, The Goldman Sachs Group raised their price objective on shares of Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $270.05.

Insider Transactions at Chubb

In other news, Director Michael G. Atieh sold 716 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $269.70, for a total value of $193,105.20. Following the transaction, the director now owns 39,295 shares of the company’s stock, valued at $10,597,861.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Chubb news, Director Michael G. Atieh sold 716 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $269.70, for a total transaction of $193,105.20. Following the transaction, the director now owns 39,295 shares in the company, valued at $10,597,861.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John W. Keogh sold 34,707 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the transaction, the chief operating officer now owns 284,136 shares in the company, valued at approximately $71,596,589.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,552 shares of company stock valued at $12,149,985. 0.86% of the stock is currently owned by corporate insiders.

Chubb Stock Performance

Shares of CB traded up $8.45 on Friday, reaching $270.06. The company’s stock had a trading volume of 1,653,253 shares, compared to its average volume of 1,399,890. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.36 and a quick ratio of 0.29. Chubb Limited has a 12-month low of $198.10 and a 12-month high of $275.41. The stock has a market capitalization of $109.66 billion, a P/E ratio of 12.00, a PEG ratio of 5.04 and a beta of 0.66. The stock’s 50 day simple moving average is $262.03 and its two-hundred day simple moving average is $253.42.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. During the same quarter in the previous year, the firm earned $4.92 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts forecast that Chubb Limited will post 21.03 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Friday, June 14th. This is an increase from Chubb’s previous quarterly dividend of $0.86. Chubb’s payout ratio is 16.16%.

Chubb Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.