Gamco Investors INC. ET AL decreased its holdings in Chubb Limited (NYSE:CB – Free Report) by 17.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,547 shares of the financial services provider’s stock after selling 3,020 shares during the period. Gamco Investors INC. ET AL’s holdings in Chubb were worth $4,540,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Berkshire Hathaway Inc boosted its stake in shares of Chubb by 15.9% in the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after purchasing an additional 4,299,111 shares in the last quarter. State Street Corp raised its holdings in Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after buying an additional 68,553 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Chubb by 9.2% during the 3rd 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 during the last quarter. Bank of America Corp DE raised its holdings in Chubb by 11.6% during the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after buying an additional 513,852 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Chubb by 75.1% during the 3rd quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock valued at $785,468,000 after buying an additional 1,199,963 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.
Chubb Stock Down 0.4%
Shares of NYSE CB opened at $328.70 on Thursday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The firm has a market capitalization of $127.49 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.69 and a beta of 0.43. The firm has a fifty day simple moving average of $326.29 and a two-hundred day simple moving average of $315.35.
Chubb Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Shareholders of record on Friday, March 13th were issued a $0.97 dividend. The ex-dividend date was Friday, March 13th. This represents a $3.88 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio is 13.70%.
Insider Buying and Selling
In other Chubb news, Director Olivier Steimer sold 2,000 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the transaction, the director directly owned 25,468 shares in the company, valued at approximately $8,386,612.40. This represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.37% of the company’s stock.
Wall Street Analyst Weigh In
CB has been the subject of a number of recent analyst reports. Raymond James Financial upped their price target on shares of Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a report on Monday, February 9th. Barclays upped their price target on shares of Chubb from $374.00 to $375.00 and gave the company an “equal weight” rating in a report on Wednesday, April 22nd. Evercore upped their price target on shares of Chubb from $347.00 to $349.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Piper Sandler upped their price target on shares of Chubb from $319.00 to $328.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Finally, Bank of America lowered their price target on shares of Chubb from $286.00 to $271.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $349.33.
Get Our Latest Stock Report on Chubb
Chubb Company Profile
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.
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