Prestige Wealth Management Group LLC Cuts Stake in Chubb Limited (NYSE:CB)

Prestige Wealth Management Group LLC cut its holdings in Chubb Limited (NYSE:CB) by 42.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,392 shares of the financial services provider’s stock after selling 1,029 shares during the period. Prestige Wealth Management Group LLC’s holdings in Chubb were worth $403,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. RFG Advisory LLC boosted its holdings in shares of Chubb by 7.9% during the 2nd quarter. RFG Advisory LLC now owns 1,535 shares of the financial services provider’s stock valued at $391,000 after purchasing an additional 112 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Chubb by 2.7% during the second quarter. Sequoia Financial Advisors LLC now owns 7,007 shares of the financial services provider’s stock valued at $1,788,000 after buying an additional 187 shares during the last quarter. Burke & Herbert Bank & Trust Co. purchased a new position in Chubb during the 2nd quarter valued at approximately $308,000. Wealth Enhancement Advisory Services LLC increased its stake in Chubb by 1.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 194,463 shares of the financial services provider’s stock worth $49,604,000 after acquiring an additional 2,713 shares during the last quarter. Finally, Hendley & Co. Inc. purchased a new stake in shares of Chubb during the 2nd quarter worth approximately $236,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Down 2.1 %

NYSE:CB opened at $277.39 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $216.90 and a 1-year high of $302.05. The company has a 50-day moving average of $286.66 and a 200 day moving average of $276.58. The firm has a market cap of $111.81 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 6.59 and a beta of 0.67.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.95 EPS. As a group, research analysts anticipate that Chubb Limited will post 21.82 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.91 per share. The ex-dividend date is Friday, December 13th. This represents a $3.64 annualized dividend and a yield of 1.31%. Chubb’s dividend payout ratio (DPR) is presently 14.91%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CB shares. Wells Fargo & Company upped their price target on shares of Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Bank of America lifted their price objective on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Barclays began coverage on shares of Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. Finally, Piper Sandler lifted their price target on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus price target of $287.37.

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