Cornerstone Wealth Management LLC Increases Stock Position in Chubb Limited (NYSE:CB)

by · The Cerbat Gem

Cornerstone Wealth Management LLC increased its position in shares of Chubb Limited (NYSE:CB – Free Report) by 42.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,004 shares of the financial services provider’s stock after purchasing an additional 1,200 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Chubb were worth $1,155,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Firethorn Wealth Partners LLC lifted its holdings in Chubb by 3.6% during the third quarter. Firethorn Wealth Partners LLC now owns 1,343 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 47 shares during the period. Amplius Wealth Advisors LLC increased its position in shares of Chubb by 4.4% during the 3rd quarter. Amplius Wealth Advisors LLC now owns 60,029 shares of the financial services provider’s stock valued at $17,312,000 after purchasing an additional 2,504 shares during the last quarter. Transform Wealth LLC increased its position in shares of Chubb by 1.7% during the 3rd quarter. Transform Wealth LLC now owns 36,036 shares of the financial services provider’s stock valued at $10,424,000 after purchasing an additional 594 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Chubb by 2.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 20,360 shares of the financial services provider’s stock worth $5,872,000 after buying an additional 534 shares during the last quarter. Finally, Leisure Capital Management bought a new position in Chubb during the third quarter valued at about $202,000. 83.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CB has been the topic of a number of research reports. 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 report on Friday, October 4th. JPMorgan Chase & Co. increased their price target on Chubb from $290.00 to $291.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price objective on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Jefferies Financial Group increased their target price on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, JMP Securities reissued a “market outperform” rating and issued a $300.00 price target on shares of Chubb in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $282.37.

Read Our Latest Stock Report on CB

Chubb Stock Performance

Chubb stock opened at $301.90 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The firm has a market cap of $122.59 billion, a P/E ratio of 13.40, a P/E/G ratio of 5.87 and a beta of 0.66. Chubb Limited has a 1-year low of $205.64 and a 1-year high of $302.05. The firm has a 50-day moving average of $284.16 and a 200-day moving average of $267.61.

Chubb (NYSE:CB – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.34. The firm had revenue of $13.36 billion for 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 business’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.92 earnings per share. Sell-side analysts expect that Chubb Limited will post 21.32 EPS for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a dividend of $0.91 per share. The ex-dividend date was Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.21%. Chubb’s payout ratio is 16.16%.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the transaction, the chief executive officer now owns 553,664 shares of the company’s stock, valued at $160,341,094.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,636 shares of company stock worth $24,874,208. Company insiders own 0.86% of the company’s stock.

Chubb Profile

(Free Report)

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.

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