Confluence Investment Management LLC Has $131.72 Million Position in Chubb Limited (NYSE:CB)

Confluence Investment Management LLC reduced its holdings in shares of Chubb Limited (NYSE:CB) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 684,025 shares of the financial services provider’s stock after selling 7,266 shares during the period. Chubb comprises about 1.9% of Confluence Investment Management LLC’s investment portfolio, making the stock its 13th biggest position. Confluence Investment Management LLC owned 0.17% of Chubb worth $131,716,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. One Capital Management LLC acquired a new position in Chubb in the first quarter valued at about $237,000. FORVIS Wealth Advisors LLC boosted its position in Chubb by 4.4% in the first quarter. FORVIS Wealth Advisors LLC now owns 2,668 shares of the financial services provider’s stock valued at $518,000 after buying an additional 113 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Chubb by 2.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 119,904 shares of the financial services provider’s stock worth $26,463,000 after purchasing an additional 2,765 shares in the last quarter. Resources Investment Advisors LLC. lifted its position in shares of Chubb by 138.7% during the first quarter. Resources Investment Advisors LLC. now owns 8,514 shares of the financial services provider’s stock worth $1,653,000 after purchasing an additional 4,947 shares in the last quarter. Finally, Applied Capital LLC FL acquired a new position in shares of Chubb during the fourth quarter worth approximately $972,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CB. Barclays upped their target price on shares of Chubb from $260.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. JMP Securities reiterated a “market outperform” rating and set a $250.00 target price on shares of Chubb in a research report on Wednesday, July 26th. BMO Capital Markets boosted their price target on shares of Chubb from $200.00 to $210.00 in a research note on Thursday, July 27th. StockNews.com started coverage on shares of Chubb in a research note on Thursday, August 17th. They set a “buy” rating for the company. Finally, Piper Sandler dropped their price target on shares of Chubb from $248.00 to $237.00 in a research note on Thursday, July 6th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $242.79.

Chubb Stock Up 0.8 %

Shares of CB stock opened at $209.95 on Thursday. The firm has a fifty day moving average of $199.77 and a 200-day moving average of $197.34. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.26. Chubb Limited has a 12-month low of $173.78 and a 12-month high of $231.37. The company has a market capitalization of $86.23 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.12 and a beta of 0.65.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.41 by $0.51. Chubb had a net margin of 12.47% and a return on equity of 13.56%. The company had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $11.24 billion. During the same quarter in the prior year, the firm earned $4.20 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts predict that Chubb Limited will post 18.18 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.64%. The ex-dividend date is Thursday, September 14th. Chubb’s payout ratio is 24.71%.

Chubb announced that its Board of Directors has approved a share repurchase plan on Monday, June 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, COO John W. Keogh sold 10,000 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $201.01, for a total transaction of $2,010,100.00. Following the completion of the transaction, the chief operating officer now owns 265,184 shares in the company, valued at $53,304,635.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chubb news, Director Theodore Shasta sold 699 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $201.94, for a total value of $141,156.06. Following the completion of the sale, the director now owns 14,511 shares in the company, valued at $2,930,351.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO John W. Keogh sold 10,000 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $201.01, for a total transaction of $2,010,100.00. Following the completion of the sale, the chief operating officer now owns 265,184 shares of the company’s stock, valued at approximately $53,304,635.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,534 shares of company stock worth $4,645,275. 0.37% of the stock is owned by insiders.

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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.