Evercore Wealth Management LLC Purchases 2,081 Shares of Chubb Limited (NYSE:CB)

Evercore Wealth Management LLC lifted its position in Chubb Limited (NYSE:CB) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 453,004 shares of the financial services provider’s stock after buying an additional 2,081 shares during the quarter. Chubb comprises 1.7% of Evercore Wealth Management LLC’s investment portfolio, making the stock its 23rd largest holding. Evercore Wealth Management LLC owned 0.11% of Chubb worth $102,379,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. ZRC Wealth Management LLC bought a new stake in Chubb during the fourth quarter worth approximately $29,000. EdgeRock Capital LLC bought a new stake in Chubb during the fourth quarter worth approximately $35,000. Tennessee Valley Asset Management Partners bought a new stake in Chubb during the fourth quarter worth approximately $32,000. Northwest Financial Advisors bought a new stake in Chubb during the fourth quarter worth approximately $33,000. Finally, Naples Money Management LLC bought a new stake in Chubb during the fourth quarter worth approximately $34,000. Institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

CB has been the subject of several research reports. Piper Sandler reissued an “overweight” rating and issued a $282.00 price objective on shares of Chubb in a research report on Monday, April 1st. HSBC reissued a “hold” rating and issued a $270.00 price objective (down from $275.00) on shares of Chubb in a research report on Thursday, April 4th. Morgan Stanley upped their target price on Chubb from $258.00 to $260.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. StockNews.com lowered Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, Roth Mkm restated a “buy” rating and issued a $280.00 target price on shares of Chubb in a research note on Wednesday, April 24th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $266.70.

Chubb Price Performance

Shares of CB stock traded up $3.47 during trading hours on Friday, hitting $267.22. 1,523,806 shares of the company’s stock were exchanged, compared to its average volume of 1,607,893. The stock’s 50-day moving average is $255.30 and its 200-day moving average is $244.80. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $108.51 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 4.30 and a beta of 0.66. Chubb Limited has a 52 week low of $183.71 and a 52 week high of $275.41.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $0.12. The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business earned $4.41 earnings per share. As a group, research analysts forecast that Chubb Limited will post 21.23 EPS for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued a $0.91 dividend. This is a boost from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, June 14th. This represents a $3.64 annualized dividend and a yield of 1.36%. Chubb’s dividend payout ratio (DPR) is currently 15.27%.

Insider Activity at Chubb

In related news, EVP Juan Luis Ortega sold 2,400 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $260.98, for a total value of $626,352.00. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at $11,648,059.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Chubb news, EVP Joseph F. Wayland sold 26,946 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.02, for a total transaction of $6,925,660.92. Following the transaction, the executive vice president now owns 95,252 shares in the company, valued at $24,481,669.04. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Juan Luis Ortega sold 2,400 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $260.98, for a total value of $626,352.00. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at approximately $11,648,059.36. The disclosure for this sale can be found here. Insiders have sold a total of 115,065 shares of company stock worth $29,518,703 over the last 90 days. Insiders own 0.86% of the company’s stock.

Chubb 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.