In a recent development within the financial sector, Financial Advocates Investment Management has made adjustments to its investment portfolio, specifically concerning its holdings in Chubb Limited (NYSE:CB). According to the latest 13F filing with the Securities and Exchange Commission (SEC), the investment firm has slightly reduced its stake in the renowned insurance provider.
Portfolio Adjustment Details
Financial Advocates Investment Management reported a 2.1% decrease in its Chubb Limited holdings during the second quarter of the year. The firm now owns 3,577 shares of Chubb’s stock, having sold 76 shares over the quarter. This adjustment brings the value of Financial Advocates Investment Management’s stake in Chubb to approximately $912,000, based on the most recent SEC filing.
Chubb Limited: A Brief Overview
Chubb Limited, a global leader in the insurance and reinsurance industry, continues to attract attention from various institutional investors. The company, which trades on the New York Stock Exchange under the ticker symbol CB, has seen significant activity in its stock recently.
Key Financial Indicators:
- Market Capitalization: $114.50 billion
- Price-to-Earnings Ratio: 12.52
- PEG Ratio: 5.21
- Beta: 0.66
These figures suggest that Chubb maintains a strong position in the market, with a substantial valuation and relatively low volatility compared to the broader market.
Recent Stock Performance
Chubb’s stock has shown impressive performance in recent trading sessions. As of the latest market close, shares of CB were trading at $281.98. The stock has demonstrated resilience, with a 52-week range spanning from $198.67 to $282.25. This performance indicates a strong upward trend, with the current price hovering near its yearly high.
Institutional Investor Activity
While Financial Advocates Investment Management has slightly reduced its position, other institutional investors have been actively adjusting their stakes in Chubb. Notable changes include:
- HB Wealth Management LLC increased its holdings by 2.4%, now owning 30,137 shares valued at approximately $7.69 million.
- Valley Brook Capital Group Inc. expanded its position by 31.2%, holding 2,375 shares worth about $606,000.
- Wright Investors Service Inc. slightly increased its stake by 1.1%, now possessing 9,443 shares valued at $2.41 million.
- Kintegral Advisory LLC made a significant addition to its holdings, increasing its position by 13.2% to 23,190 shares, worth approximately $5.93 million.
These movements reflect the dynamic nature of institutional investment in Chubb Limited and the varying strategies employed by different financial management firms.
Financial Performance and Dividend Information
Chubb Limited recently reported strong quarterly results, exceeding analyst expectations. For the quarter ending July 23rd, the company posted earnings per share of $5.38, surpassing the consensus estimate of $5.04. Revenue for the quarter reached $13.36 billion, representing an 11.8% increase year-over-year.
In addition to its solid financial performance, Chubb continues to reward shareholders through its dividend program. The company has declared a quarterly dividend of $0.91 per share, scheduled for payment on October 4th to shareholders of record as of September 13th. This translates to an annualized dividend of $3.64 and a yield of 1.29%, underscoring Chubb’s commitment to delivering value to its investors.
Analyst Perspectives
The investment community maintains a cautiously optimistic outlook on Chubb Limited. Recent analyst ratings include:
- Keefe, Bruyette & Woods raised their price target to $305, maintaining an “outperform” rating.
- Roth Mkm increased their price objective to $300, also with a “buy” rating.
- Bank of America and Morgan Stanley have more conservative views, with price targets of $264 and $259 respectively, and “neutral” ratings.
The overall analyst consensus suggests a “Hold” rating, with an average price target of $270.79, indicating potential upside from current trading levels.
As Chubb Limited continues to navigate the complex landscape of the global insurance market, investors and analysts alike will be watching closely to see how the company’s strategic initiatives and market conditions influence its future performance and stock valuation.
