Pallas Capital Advisors LLC Boosts Stock Position in Chubb Limited (NYSE:CB)

Pallas Capital Advisors LLC grew its holdings in shares of Chubb Limited (NYSE:CB) by 17.5% during the fourth quarter, HoldingsChannel reports. The firm owned 3,119 shares of the financial services provider’s stock after purchasing an additional 464 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Chubb were worth $862,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Continuum Advisory LLC raised its stake in Chubb by 56.5% during the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 35 shares during the period. Kozak & Associates Inc. acquired a new position in Chubb during the 3rd quarter worth approximately $29,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Chubb during the third quarter worth $29,000. Raelipskie Partnership purchased a new position in Chubb in the 3rd quarter valued at about $29,000. Finally, Truvestments Capital LLC purchased a new position in Chubb in the third quarter valued at about $30,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CB has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America increased their target price on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on Chubb from $320.00 to $328.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Company upped their price target on shares of Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Piper Sandler lifted their target price on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $288.39.

Chubb Price Performance

Shares of NYSE:CB opened at $261.74 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. The company has a market cap of $105.51 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 6.43 and a beta of 0.67. Chubb Limited has a one year low of $226.06 and a one year high of $302.05. The firm has a 50 day simple moving average of $278.69 and a 200 day simple moving average of $278.09.

Chubb (NYSE:CB) last posted its quarterly earnings data 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 company 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%. Chubb’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.95 earnings per share. Research analysts predict that Chubb Limited will post 21.82 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were paid a $0.91 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.39%. Chubb’s payout ratio is presently 14.91%.

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.