Flatrock Wealth Partners LLC Purchases Shares of 1,476 Chubb Limited $CB

Flatrock Wealth Partners LLC acquired a new position in shares of Chubb Limited (NYSE:CB) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,476 shares of the financial services provider’s stock, valued at approximately $483,000.

Several other hedge funds also recently modified their holdings of the stock. Berkshire Hathaway Inc boosted its position in Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares during the last quarter. State Street Corp raised its stake in shares of Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after purchasing an additional 68,553 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after buying an additional 3,049,987 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of Chubb by 15.2% in the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after buying an additional 1,647,729 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Chubb by 9.2% in the third quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock valued at $1,426,475,000 after buying an additional 427,512 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 0.7%

CB stock opened at $358.96 on Wednesday. The business’s fifty day moving average price is $328.53 and its two-hundred day moving average price is $323.77. The stock has a market capitalization of $139.23 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.82 and a beta of 0.40. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $365.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The business had revenue of $14.93 billion for the quarter. On average, equities analysts anticipate that Chubb Limited will post 26.77 earnings per share for the current year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were issued a dividend of $1.02 per share. This is a boost from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 12th. Chubb’s payout ratio is 14.41%.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

CB has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Piper Sandler increased their price target on shares of Chubb from $328.00 to $340.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Mizuho decreased their price objective on shares of Chubb from $336.00 to $335.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Wells Fargo & Company boosted their price objective on shares of Chubb from $321.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Finally, HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and upped their target price for the company from $370.00 to $373.00 in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $350.81.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.