Royal London Asset Management Ltd. lifted its position in shares of Chubb Limited (NYSE:CB – Free Report) by 32.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 705,898 shares of the financial services provider’s stock after purchasing an additional 171,040 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Chubb were worth $240,528,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of CB. Cherry Tree Wealth Management LLC grew its position in Chubb by 38.3% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 31 shares during the last quarter. Phillips Wealth Planners LLC boosted its stake in shares of Chubb by 1.8% in the 4th quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider’s stock valued at $521,000 after purchasing an additional 31 shares in the last quarter. Hoxton Planning & Management LLC boosted its stake in shares of Chubb by 4.3% in the 4th quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 31 shares in the last quarter. South Plains Financial Inc. grew its holdings in shares of Chubb by 2.2% during the 4th quarter. South Plains Financial Inc. now owns 1,601 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 34 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. grew its holdings in shares of Chubb by 0.8% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 4,105 shares of the financial services provider’s stock valued at $1,338,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.
Chubb Trading Up 0.6%
NYSE CB opened at $340.34 on Friday. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a 50 day simple moving average of $347.46 and a two-hundred day simple moving average of $333.97. The stock has a market cap of $131.30 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.64 and a beta of 0.39.
Chubb Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be issued a $1.02 dividend. The ex-dividend date is Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s payout ratio is 14.43%.
Insider Buying and Selling at Chubb
In other Chubb news, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. The trade was a 30.05% 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. Also, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company’s stock.
Analyst Upgrades and Downgrades
CB has been the subject of several recent research reports. Piper Sandler boosted their price target on shares of Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Citizens Jmp reaffirmed a “market outperform” rating and set a $400.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $354.00 price objective on shares of Chubb in a report on Wednesday, July 22nd. Evercore reissued an “outperform” rating and issued a $374.00 target price on shares of Chubb in a research note on Friday, July 10th. Finally, Wells Fargo & Company dropped their target price on Chubb from $358.00 to $356.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $361.00.
View Our Latest Report on Chubb
About Chubb
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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