Marcum Wealth LLC Reduces Stock Position in Chubb Limited (NYSE:CB)

Marcum Wealth LLC lessened its position in shares of Chubb Limited (NYSE:CB) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,721 shares of the financial services provider’s stock after selling 52 shares during the period. Marcum Wealth LLC’s holdings in Chubb were worth $1,073,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CB. Beacon Capital Management LLC raised its holdings in shares of Chubb by 76.4% during the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in Chubb in the first quarter valued at about $25,000. Chilton Capital Management LLC bought a new position in shares of Chubb in the second quarter worth about $26,000. Wellington Shields Capital Management LLC bought a new stake in Chubb during the 1st quarter worth about $29,000. Finally, Kimelman & Baird LLC acquired a new position in Chubb in the second quarter valued at about $32,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 1.0 %

CB stock opened at $282.83 on Thursday. Chubb Limited has a 12 month low of $205.64 and a 12 month high of $294.18. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average of $281.42 and a two-hundred day moving average of $266.19. The company has a market cap of $114.85 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 5.74 and a beta of 0.66.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. During the same period in the prior year, the firm posted $4.92 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, analysts forecast that Chubb Limited will post 21.21 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Friday, September 13th. Chubb’s dividend payout ratio is presently 16.16%.

Insider Buying and Selling at Chubb

In other news, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the transaction, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares in the company, valued at $167,748,829.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Juan Luis Ortega sold 3,921 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at approximately $12,187,213.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,636 shares of company stock worth $24,874,208 in the last quarter. 0.86% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CB shares. Royal Bank of Canada raised their price objective on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods increased their price target on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Piper Sandler increased their target price on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. JMP Securities upped their price target on shares of Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 24th. Finally, William Blair cut Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $281.00.

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