Freestone Grove Partners LP bought a new position in shares of Chubb Limited (NYSE:CB – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 141,457 shares of the financial services provider’s stock, valued at approximately $48,200,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in CB. XXEC Inc. bought a new position in shares of Chubb in the 2nd quarter valued at approximately $228,226,000. Berkshire Hathaway Inc boosted its position in Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after purchasing an additional 2,916,288 shares during the period. BlackRock Inc. bought a new stake in Chubb during the second quarter worth approximately $9,913,336,000. State Street Corp grew its holdings in Chubb by 0.4% during the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after purchasing an additional 68,553 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Chubb by 25.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after purchasing an additional 3,049,987 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.
Chubb Stock Up 0.3%
Shares of CB stock opened at $344.08 on Thursday. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The firm has a market cap of $132.75 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.39. The stock has a 50 day moving average of $346.84 and a 200-day moving average of $333.88.
Chubb Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio is 14.43%.
Analysts Set New Price Targets
A number of research firms have recently commented on CB. Piper Sandler lifted their price target on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 29th. HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and raised their target price for the company from $370.00 to $373.00 in a research note on Monday, July 6th. UBS Group boosted their target price on shares of Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Morgan Stanley upped their price target on shares of Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $361.00.
Insiders Place Their Bets
In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director owned 12,803 shares in the company, valued at approximately $4,417,035. The trade was a 30.05% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by corporate insiders.
Chubb 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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