Meridian Wealth Management LLC Acquires 44 Shares of Chubb Limited (NYSE:CB)

Meridian Wealth Management LLC boosted its holdings in Chubb Limited (NYSE:CB) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,041 shares of the financial services provider’s stock after acquiring an additional 44 shares during the quarter. Meridian Wealth Management LLC’s holdings in Chubb were worth $1,454,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its position in Chubb by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock valued at $1,258,202,000 after buying an additional 63,891 shares in the last quarter. Legal & General Group Plc boosted its position in Chubb by 2.9% in the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock valued at $938,663,000 after buying an additional 104,986 shares in the last quarter. Raymond James & Associates boosted its position in Chubb by 2.9% in the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock valued at $778,270,000 after buying an additional 87,059 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Chubb by 7.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,297,706 shares of the financial services provider’s stock valued at $586,207,000 after buying an additional 160,335 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Chubb by 0.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 1,428,357 shares of the financial services provider’s stock valued at $364,345,000 after buying an additional 8,215 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Evercore ISI boosted their price target on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler upped their target price on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Barclays began coverage on shares of Chubb in a research report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price on the stock. Morgan Stanley upped their target price on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price on shares of Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $287.37.

Insider Transactions at Chubb

In related news, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the transaction, the director now owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. This trade represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction 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 directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This trade represents a 4.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,715 shares of company stock valued at $23,803,540 over the last quarter. Corporate insiders own 0.86% of the company’s stock.

Chubb Stock Up 0.0 %

Shares of NYSE:CB opened at $285.21 on Friday. Chubb Limited has a 52 week low of $216.90 and a 52 week high of $302.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $114.97 billion, a PE ratio of 11.68, a PEG ratio of 6.62 and a beta of 0.67. The company has a 50 day moving average price of $287.46 and a two-hundred day moving average price of $274.26.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. During the same quarter in the prior year, the firm earned $4.95 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. Analysts forecast that Chubb Limited will post 21.77 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Friday, December 13th. Chubb’s dividend payout ratio is 14.91%.

Chubb Company 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.