Elevation Point Wealth Partners LLC Grows Stock Holdings in Chubb Limited $CB

Elevation Point Wealth Partners LLC grew its position in Chubb Limited (NYSE:CB) by 303.5% during the third quarter, Holdings Channel reports. The institutional investor owned 5,823 shares of the financial services provider’s stock after acquiring an additional 4,380 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Chubb were worth $1,649,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mitchell & Pahl Private Wealth LLC raised its stake in shares of Chubb by 0.5% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 7,381 shares of the financial services provider’s stock worth $2,083,000 after acquiring an additional 35 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Chubb by 7.4% in the third quarter. Golden State Wealth Management LLC now owns 525 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 36 shares in the last quarter. Covestor Ltd grew its holdings in Chubb by 26.1% in the third quarter. Covestor Ltd now owns 179 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 37 shares during the last quarter. CENTRAL TRUST Co grew its holdings in Chubb by 1.0% in the third quarter. CENTRAL TRUST Co now owns 3,573 shares of the financial services provider’s stock worth $1,008,000 after purchasing an additional 37 shares during the last quarter. Finally, JT Stratford LLC increased its position in shares of Chubb by 3.5% during the second quarter. JT Stratford LLC now owns 1,127 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on CB shares. Deutsche Bank Aktiengesellschaft increased their price objective on Chubb from $303.00 to $304.00 and gave the company a “hold” rating in a report on Monday, November 24th. Evercore boosted their target price on Chubb from $346.00 to $347.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. UBS Group reaffirmed a “neutral” rating and set a $340.00 target price on shares of Chubb in a research report on Monday, February 9th. Keefe, Bruyette & Woods raised their price target on Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. boosted their price target on Chubb from $327.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $340.81.

Chubb Price Performance

Shares of CB opened at $329.24 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. The company’s fifty day moving average price is $319.55 and its 200-day moving average price is $299.76. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $345.67. The firm has a market capitalization of $128.45 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 2.06 and a beta of 0.46.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $11.11 billion. During the same quarter last year, the business posted $6.02 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Friday, March 13th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio is currently 15.08%.

Insider Activity

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president directly owned 11,810 shares in the company, valued at $3,920,683.80. This trade represents a 70.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total value of $4,991,938.20. Following the sale, the chief executive officer directly owned 511,576 shares of the company’s stock, valued at $169,572,096.72. This trade represents a 2.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.86% of the company’s stock.

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.