Assetmark Inc. Buys 8,828 Shares of Chubb Limited $CB

Assetmark Inc. lifted its stake in shares of Chubb Limited (NYSE:CB) by 14.1% during the second quarter, HoldingsChannel reports. The firm owned 71,294 shares of the financial services provider’s stock after acquiring an additional 8,828 shares during the quarter. Assetmark Inc.’s holdings in Chubb were worth $20,655,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. HBK Sorce Advisory LLC raised its stake in shares of Chubb by 19.5% during the 2nd quarter. HBK Sorce Advisory LLC now owns 1,785 shares of the financial services provider’s stock worth $517,000 after purchasing an additional 291 shares in the last quarter. Premier Path Wealth Partners LLC raised its stake in shares of Chubb by 7.1% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 3,415 shares of the financial services provider’s stock worth $989,000 after purchasing an additional 227 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Chubb by 68.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 468 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 190 shares in the last quarter. Daymark Wealth Partners LLC raised its stake in shares of Chubb by 1.2% during the 2nd quarter. Daymark Wealth Partners LLC now owns 23,915 shares of the financial services provider’s stock worth $6,929,000 after purchasing an additional 282 shares in the last quarter. Finally, Mayflower Financial Advisors LLC raised its stake in Chubb by 4.8% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 2,246 shares of the financial services provider’s stock valued at $651,000 after acquiring an additional 103 shares during the period. Institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CB shares. Cantor Fitzgerald restated a “neutral” rating and issued a $300.00 price target on shares of Chubb in a research note on Monday. Citigroup increased their price target on Chubb from $326.00 to $331.00 and gave the company a “buy” rating in a research note on Friday, October 24th. The Goldman Sachs Group restated a “neutral” rating and issued a $309.00 price target on shares of Chubb in a research note on Monday. Piper Sandler restated a “neutral” rating and issued a $283.00 price target (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $283.00 price target on shares of Chubb in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $307.79.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 23,698 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $281.00, for a total transaction of $6,659,138.00. Following the transaction, the insider owned 90,600 shares in the company, valued at $25,458,600. This trade represents a 20.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.77% of the stock is owned by insiders.

Chubb Stock Down 0.3%

CB stock opened at $277.13 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.28. The stock has a market capitalization of $109.07 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.74 and a beta of 0.54. The business’s fifty day moving average price is $277.80 and its two-hundred day moving average price is $280.67. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, topping the consensus estimate of $5.51 by $1.98. The firm had revenue of $14.87 billion for the quarter, compared to analysts’ expectations of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $5.72 EPS. On average, equities analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were given a dividend of $0.97 per share. The ex-dividend date was Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb’s dividend payout ratio (DPR) is presently 16.19%.

Chubb Company 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.