Octavia Wealth Advisors LLC Buys Shares of 1,158 Chubb Limited $CB

Octavia Wealth Advisors LLC bought a new position in shares of Chubb Limited (NYSE:CB) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,158 shares of the financial services provider’s stock, valued at approximately $337,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Peoples Bank KS purchased a new position in Chubb during the 1st quarter worth $25,000. Opal Wealth Advisors LLC acquired a new stake in Chubb during the 1st quarter worth about $25,000. North Capital Inc. acquired a new stake in Chubb during the 1st quarter worth about $26,000. IMA Advisory Services Inc. acquired a new position in shares of Chubb in the 1st quarter valued at about $31,000. Finally, 1248 Management LLC acquired a new position in shares of Chubb in the 1st quarter valued at about $31,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CB. Morgan Stanley decreased their price objective on Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a report on Monday, August 18th. Evercore ISI set a $312.00 price target on Chubb in a research note on Wednesday, July 23rd. HSBC lowered Chubb from a “buy” rating to a “hold” rating and cut their price target for the company from $317.00 to $300.00 in a research note on Friday, August 1st. UBS Group cut their price target on Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. Finally, Barclays lowered Chubb from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $321.00 to $298.00 in a research note on Monday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Chubb has a consensus rating of “Hold” and an average target price of $303.06.

Chubb Price Performance

CB stock opened at $278.22 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The business has a 50 day simple moving average of $273.63 and a 200-day simple moving average of $282.78. The firm has a market capitalization of $110.92 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 3.11 and a beta of 0.56. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91.

Chubb (NYSE:CB) last posted its quarterly 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. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $5.38 earnings per share. Equities research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb’s dividend payout ratio is 17.12%.

Insiders Place Their Bets

In other news, Director Michael Corbat purchased 425 shares of the firm’s stock in a transaction on Friday, July 25th. The shares were bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the purchase, the director directly owned 2,450 shares of the company’s stock, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John J. Lupica sold 5,513 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the transaction, the insider owned 91,180 shares in the company, valued at $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is owned by corporate insiders.

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.