Confluence Wealth Services Inc. Has $4 Million Stock Holdings in Chubb Limited $CB

Confluence Wealth Services Inc. grew its position in Chubb Limited (NYSE:CB) by 0.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,811 shares of the financial services provider’s stock after acquiring an additional 64 shares during the period. Confluence Wealth Services Inc.’s holdings in Chubb were worth $4,001,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. GQG Partners LLC increased its holdings in shares of Chubb by 112.1% in the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after acquiring an additional 4,964,298 shares in the last quarter. Demars Financial Group LLC grew its position in shares of Chubb by 16.4% in the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock valued at $1,884,004,000 after purchasing an additional 878,177 shares during the period. Ameriprise Financial Inc. increased its stake in Chubb by 6.9% during the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after purchasing an additional 304,751 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Chubb by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider’s stock worth $840,756,000 after buying an additional 30,334 shares during the period. Finally, Nuveen LLC bought a new position in Chubb in the first quarter valued at approximately $562,221,000. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CB shares. UBS Group lowered their price objective on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a research report on Monday, July 28th. Wells Fargo & Company lowered their target price on Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a report on Thursday, July 24th. Wolfe Research raised Chubb to a “strong-buy” rating in a research note on Tuesday, September 16th. Weiss Ratings restated a “buy (b)” rating on shares of Chubb in a report on Saturday, September 27th. Finally, Piper Sandler reiterated a “neutral” rating and set a $283.00 price objective (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chubb currently has an average rating of “Hold” and a consensus price target of $303.24.

Chubb Trading Up 0.9%

Chubb stock opened at $283.99 on Monday. The company has a market cap of $113.22 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 3.20 and a beta of 0.54. The firm has a 50-day moving average of $274.76 and a 200-day moving average of $282.06. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a one year low of $252.16 and a one year high of $306.91.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the previous year, the business earned $5.38 earnings per share. Chubb’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb’s dividend payout ratio is presently 17.12%.

Insider Activity at Chubb

In other news, Director Michael Corbat bought 425 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director owned 2,450 shares of the company’s stock, valued at $661,010. This represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.86% of the company’s stock.

About Chubb

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.