Citizens Financial Group Inc. RI Invests $15.76 Million in Chubb Limited $CB

Citizens Financial Group Inc. RI purchased a new stake in Chubb Limited (NYSE:CB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 46,172 shares of the financial services provider’s stock, valued at approximately $15,760,000.

A number of other hedge funds have also modified their holdings of CB. IMG Wealth Management Inc. acquired a new position in Chubb during the second quarter valued at approximately $25,000. Dunhill Financial LLC bought a new stake in Chubb in the second quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its stake in Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. Frazier Financial Advisors LLC raised its holdings in Chubb by 86.4% in the first 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 period. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in Chubb in the first quarter worth $29,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CB shares. Citigroup reissued a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. Evercore reaffirmed an “outperform” rating and set a $374.00 price objective on shares of Chubb in a research note on Friday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $354.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Piper Sandler lifted their target price on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Finally, Cantor Fitzgerald boosted their target price on Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Chubb currently has an average rating of “Hold” and an average target price of $360.09.

Chubb Stock Performance

Shares of CB opened at $341.24 on Tuesday. The firm has a market cap of $131.65 billion, a P/E ratio of 12.07, a PEG ratio of 1.70 and a beta of 0.39. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The firm’s 50 day moving average price is $344.69 and its two-hundred day moving average price is $332.47.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) 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 company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the prior year, the firm earned $6.14 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, analysts forecast that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Dividend Announcement

The business 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 $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio is presently 14.43%.

Insider Transactions at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is currently owned by corporate insiders.

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.