Dearborn Partners LLC boosted its holdings in shares of Chubb Ltd (NYSE:CB) by 5.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,906 shares of the financial services provider’s stock after acquiring an additional 200 shares during the quarter. Dearborn Partners LLC’s holdings in Chubb were worth $495,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. raised its stake in shares of Chubb by 3.7% during the 4th quarter. Sunbelt Securities Inc. now owns 1,836 shares of the financial services provider’s stock worth $286,000 after purchasing an additional 66 shares in the last quarter. BBVA USA Bancshares Inc. raised its stake in shares of Chubb by 2.6% during the 2nd quarter. BBVA USA Bancshares Inc. now owns 3,257 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 84 shares in the last quarter. Point View Wealth Management Inc. raised its stake in shares of Chubb by 1.2% in the 2nd quarter. Point View Wealth Management Inc. now owns 7,037 shares of the financial services provider’s stock valued at $891,000 after acquiring an additional 86 shares in the last quarter. Taylor Cottrill Erickson & Associates Inc. raised its stake in shares of Chubb by 0.5% in the 2nd quarter. Taylor Cottrill Erickson & Associates Inc. now owns 20,260 shares of the financial services provider’s stock valued at $2,565,000 after acquiring an additional 95 shares in the last quarter. Finally, Community Bank N.A. raised its stake in shares of Chubb by 0.9% in the 1st quarter. Community Bank N.A. now owns 10,586 shares of the financial services provider’s stock valued at $1,183,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 87.42% of the company’s stock.
A number of research analysts recently weighed in on CB shares. Wells Fargo & Co reissued a “buy” rating and issued a $150.00 price objective (up from $142.00) on shares of Chubb in a research note on Monday, July 6th. Bank of America cut their price objective on Chubb from $132.00 to $114.00 and set an “underperform” rating on the stock in a research note on Tuesday, July 7th. Piper Sandler raised their price objective on Chubb from $131.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, June 23rd. Morgan Stanley raised their price objective on Chubb from $121.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Finally, ValuEngine raised Chubb from a “sell” rating to a “hold” rating in a research note on Thursday, June 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $147.50.
Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 28th. The financial services provider reported ($0.56) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.66) by $0.10. Chubb had a return on equity of 5.98% and a net margin of 6.10%. The company had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same quarter last year, the firm earned $2.60 EPS. Chubb’s revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts forecast that Chubb Ltd will post 6.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Thursday, June 18th. This is a positive change from Chubb’s previous quarterly dividend of $0.75. Chubb’s dividend payout ratio (DPR) is presently 30.86%.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional 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 in the United States, Canada, and Bermuda.
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