Chubb Limited $CB Position Cut by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS lessened its position in Chubb Limited (NYSE:CB) by 16.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,757 shares of the financial services provider’s stock after selling 1,907 shares during the period. Chubb makes up 0.9% of Legacy Wealth Management LLC MS’s portfolio, making the stock its 21st biggest position. Legacy Wealth Management LLC MS’s holdings in Chubb were worth $3,325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC grew its stake in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 49 shares in the last quarter. Frazier Financial Advisors LLC increased its position in shares of Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 38 shares during the period. Merkkuri Wealth Advisors LLC acquired a new position in Chubb during the first quarter worth about $29,000. Laurel Wealth Advisors LLC bought a new position in shares of Chubb during the 4th quarter valued at about $31,000. Finally, Ares Financial Consulting LLC acquired a new stake in Chubb during the fourth quarter valued at approximately $32,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the stock in a transaction on 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 transaction, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm’s 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 transaction, the executive vice president directly owned 33,749 shares of the company’s stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.37% of the company’s stock.

Chubb Price Performance

NYSE:CB opened at $350.17 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. Chubb Limited has a one year low of $265.30 and a one year high of $365.91. The company has a fifty day moving average price of $341.33 and a 200 day moving average price of $330.43. The stock has a market cap of $135.10 billion, a P/E ratio of 12.39, a PEG ratio of 1.73 and a beta of 0.39.

Chubb (NYSE:CB) last posted 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 for the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the previous year, the firm posted $6.14 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. Analysts anticipate that Chubb Limited will post 27.45 earnings per share for the current year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were paid a dividend of $1.02 per share. This is an increase from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, June 12th. Chubb’s dividend payout ratio is presently 14.43%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CB. Barclays set a $387.00 target price on Chubb in a report on Tuesday, July 7th. Keefe, Bruyette & Woods increased their price objective on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Evercore reaffirmed an “outperform” rating and set a $374.00 price objective on shares of Chubb in a research report on Friday, July 10th. Piper Sandler boosted their target price on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group cut their price objective on shares of Chubb from $356.00 to $352.00 and set a “hold” rating on the stock in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $360.09.

Chubb Company Profile

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.