Asset Allocation Strategies LLC Acquires New Position in Chubb Limited (NYSE:CB)

Asset Allocation Strategies LLC bought a new position in Chubb Limited (NYSE:CB) during the third quarter, Holdings Channel.com reports. The institutional investor bought 719 shares of the financial services provider’s stock, valued at approximately $207,000.

A number of other large investors have also made changes to their positions in the stock. RFG Advisory LLC boosted its holdings in Chubb by 7.9% in 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 raised its holdings in Chubb by 2.7% in the 2nd 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 period. ORG Partners LLC purchased a new position in Chubb during the second quarter worth about $963,000. Cornerstone Wealth Management LLC lifted its holdings in shares of Chubb by 5.7% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 2,804 shares of the financial services provider’s stock worth $715,000 after acquiring an additional 150 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in Chubb by 24.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,033 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 203 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of NYSE:CB opened at $274.58 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a one year low of $216.90 and a one year high of $302.05. The company has a 50-day simple moving average of $286.66 and a 200-day simple moving average of $276.58. The stock has a market capitalization of $110.68 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 6.59 and a beta of 0.67.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. During the same quarter in the previous year, the company posted $4.95 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, analysts predict that Chubb Limited will post 21.82 EPS for the current year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.33%. Chubb’s dividend payout ratio (DPR) is 14.91%.

Analysts Set New Price Targets

Several research analysts have recently commented on CB shares. JMP Securities raised their price target on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Bank of America boosted their price target 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. Jefferies Financial Group upped their target price on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Piper Sandler raised their price target on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Finally, Keefe, Bruyette & Woods upped their price objective on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $287.37.

About Chubb

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.