Chubb Limited (NYSE:CB) shares acquired by Resonant Capital Advisors LLC

VaselineSeptember 3, 2024

0 4 minutes read

Resonant Capital Advisors LLC grew its stake in Chubb Limited (NYSE:CB – Free Report) by 12.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,497 shares of the financial services provider’s stock after acquiring an additional 164 shares during the period. Resonant Capital Advisors LLC’s holdings in Chubb were worth $383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CB. Beacon Capital Management LLC raised its position in Chubb by 76.4% in the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after buying an additional 42 shares in the the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Chubb in the first quarter valued at $25,000. Wellington Shields Capital Management LLC purchased a new position in Chubb in the first quarter valued at $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Chubb in the 4th quarter valued at about $29,000. Finally, Eagle Bay Advisors LLC boosted its position in Chubb by 82.2% in the first quarter. Eagle Bay Advisors LLC now owns 133 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s shares.

Analysts set new price targets

Several analysts have recently commented on the stock. William Blair cut shares of Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. JPMorgan Chase & Co. upped their target price on shares of Chubb from $266.00 to $286.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Royal Bank of Canada lifted their price objective on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods boosted their target price on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Morgan Stanley cut their price target on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Chubb has an average rating of “Hold” and an average target price of $270.79.

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Insider buying and selling

In other news, EVP Juan Luis Ortega sold 2,400 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $260.98, for a total transaction of $626,352.00. Following the completion of the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at $11,648,059.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. In other Chubb news, EVP Peter C. Enns sold 8,200 shares of Chubb stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the sale, the executive vice president now owns 45,853 shares in the company, valued at $12,199,649.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Also, EVP Juan Luis Ortega sold 2,400 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $260.98, for a total transaction of $626,352.00. Following the completion of the sale, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $11,648,059.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,521 shares of company stock worth $3,878,712. 0.86% of shares are owned by company insiders.

Chubb Stock 0.8%

Chubb stock opened at $284.18 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31, and a quick ratio of 0.31. Chubb Limited has a fifty-two week low of $198.67 and a fifty-two week high of $284.49. The firm has a fifty day moving average price of $266.67 and a two hundred day moving average price of $259.78. The firm has a market cap of $115.39 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 5.59 and a beta of 0.66.

Chubb (NYSE:CB – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.34. The business had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The company’s revenue was up 11.8% compared to the same quarter last year. In the same quarter last year, the firm earned $4.92 EPS. As a group, analysts forecast that Chubb Limited will post 21.2 earnings per share for the current year.

Chubb announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a $0.91 dividend. The ex-dividend date is Friday, September 13. This represents an annualized dividend of $3.64 and a dividend yield of 1.28%. Chubb’s payout ratio is 16.16%.

Chubb profile

(Free Report)

Chubb Limited offers insurance and reinsurance products worldwide. The company’s North American P&C commercial insurance segment offers commercial property, casualty, workers’ compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, warranty and casualty; and group accident and health insurance for large, medium and small commercial businesses.