SG Americas Securities LLC Increases Stock Position in Chubb Limited (NYSE:CB)

SG Americas Securities LLC increased its position in Chubb Limited (NYSE:CB) by 44.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,366 shares of the financial services provider’s stock after buying an additional 14,570 shares during the quarter. SG Americas Securities LLC’s holdings in Chubb were worth $9,121,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CB. One Capital Management LLC acquired a new position in shares of Chubb in the 1st quarter valued at about $237,000. FORVIS Wealth Advisors LLC lifted its stake in shares of Chubb by 4.4% during the first quarter. FORVIS Wealth Advisors LLC now owns 2,668 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 113 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in shares of Chubb by 2.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 119,904 shares of the financial services provider’s stock worth $26,463,000 after buying an additional 2,765 shares during the period. Resources Investment Advisors LLC. raised its holdings in shares of Chubb by 138.7% during the 1st quarter. Resources Investment Advisors LLC. now owns 8,514 shares of the financial services provider’s stock valued at $1,653,000 after buying an additional 4,947 shares during the period. Finally, Applied Capital LLC FL purchased a new stake in shares of Chubb during the fourth quarter valued at approximately $972,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Chubb Stock Performance

CB opened at $212.32 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $200.54 and its 200-day moving average is $197.53. The stock has a market cap of $87.21 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.15 and a beta of 0.65. Chubb Limited has a twelve month low of $173.78 and a twelve month high of $231.37.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share for the quarter, beating the consensus estimate of $4.41 by $0.51. The firm had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $11.24 billion. Chubb had a return on equity of 13.56% and a net margin of 12.47%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.20 EPS. On average, analysts predict that Chubb Limited will post 18.18 earnings per share for the current year.

Chubb announced that its board has initiated a stock buyback program on Monday, June 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Chubb Dividend Announcement

The company 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. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.44 annualized dividend and a yield of 1.62%. Chubb’s payout ratio is 24.71%.

Insider Activity

In other Chubb news, CAO Annmarie T. Hagan sold 1,187 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $211.81, for a total value of $251,418.47. Following the sale, the chief accounting officer now directly owns 13,234 shares in the company, valued at $2,803,093.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Annmarie T. Hagan sold 1,187 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $211.81, for a total transaction of $251,418.47. Following the completion of the sale, the chief accounting officer now directly owns 13,234 shares in the company, valued at $2,803,093.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John J. Lupica sold 8,398 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $211.74, for a total value of $1,778,192.52. Following the completion of the transaction, the insider now directly owns 154,049 shares in the company, valued at approximately $32,618,335.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,534 shares of company stock worth $4,645,275. 0.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on CB shares. JMP Securities restated a “market outperform” rating and set a $250.00 target price on shares of Chubb in a research note on Wednesday, July 26th. Piper Sandler cut their price objective on Chubb from $248.00 to $237.00 in a research note on Thursday, July 6th. Citigroup lifted their target price on Chubb from $229.00 to $235.00 in a research report on Thursday, July 27th. JPMorgan Chase & Co. upped their price target on Chubb from $241.00 to $250.00 in a research report on Thursday, July 6th. Finally, BMO Capital Markets lifted their price objective on shares of Chubb from $200.00 to $210.00 in a report on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Chubb has an average rating of “Moderate Buy” and an average price target of $242.79.

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.