Meridian Wealth Management LLC Has $1.45 Million Position in Chubb Limited (NYSE:CB)

Meridian Wealth Management LLC raised its position in Chubb Limited (NYSE:CB) by 0.9% in the third quarter, HoldingsChannel.com reports. The fund owned 5,041 shares of the financial services provider’s stock after purchasing an additional 44 shares during the quarter. Meridian Wealth Management LLC’s holdings in Chubb were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in Chubb in the first quarter valued at $25,000. Beacon Capital Management LLC lifted its stake in shares of Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after buying an additional 42 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Chubb during the 2nd quarter worth about $26,000. Strategic Financial Concepts LLC acquired a new stake in shares of Chubb during the 2nd quarter worth about $28,000. Finally, Kozak & Associates Inc. acquired a new stake in shares of Chubb during the 3rd quarter worth about $29,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CB shares. Piper Sandler raised their target price on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Barclays initiated coverage on shares of Chubb in a research note on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price for the company. Evercore ISI raised their price target on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price target 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, Wells Fargo & Company raised their price target 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 issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $287.37.

Insider Buying and Selling

In other news, insider John J. Lupica sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total value of $4,282,350.00. Following the transaction, the insider now owns 103,950 shares in the company, valued at approximately $29,676,685.50. The trade was a 12.61 % decrease in their position. 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 the business’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 transaction 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 5.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,715 shares of company stock worth $23,803,540 in the last ninety days. Company insiders own 0.86% of the company’s stock.

Chubb Price Performance

CB stock opened at $285.21 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12 month low of $216.90 and a 12 month high of $302.05. The firm has a market cap of $114.97 billion, a P/E ratio of 11.68, a P/E/G ratio of 6.62 and a beta of 0.67. The company’s 50-day moving average price is $287.46 and its two-hundred day moving average price is $274.26.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $4.95 EPS. On average, analysts anticipate that Chubb Limited will post 21.77 earnings per share for the current fiscal year.

Chubb Announces Dividend

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