Saudi Central Bank increased its stake in shares of Chubb Limited (NYSE:CB – Free Report) by 77.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 24,475 shares of the financial services provider’s stock after acquiring an additional 10,675 shares during the period. Saudi Central Bank’s holdings in Chubb were worth $8,340,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CB. Angeles Wealth Management LLC boosted its holdings in Chubb by 47.6% in the 2nd quarter. Angeles Wealth Management LLC now owns 2,850 shares of the financial services provider’s stock worth $974,000 after acquiring an additional 919 shares during the period. Rose Capital Advisors LLC purchased a new stake in shares of Chubb during the second quarter valued at approximately $258,000. NBH Bank purchased a new stake in shares of Chubb during the second quarter valued at approximately $159,000. AlphaGrep UK Ltd purchased a new stake in shares of Chubb during the second quarter valued at approximately $288,000. Finally, Highland Investment Advisors LLC acquired a new position in shares of Chubb during the second quarter worth $26,000. 83.81% of the stock is owned by institutional investors and hedge funds.
Chubb Trading Down 2.0%
CB opened at $341.16 on Friday. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market capitalization of $131.62 billion, a PE ratio of 12.07, a P/E/G ratio of 1.63 and a beta of 0.37. The firm’s fifty day moving average price is $348.27 and its 200 day moving average price is $334.45.
Chubb Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb’s dividend payout ratio is presently 14.43%.
Analyst Upgrades and Downgrades
CB has been the subject of several analyst reports. Piper Sandler upped their target price on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Cantor Fitzgerald lifted their price target on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, August 27th. Evercore reissued an “outperform” rating and issued a $374.00 price objective on shares of Chubb in a research report on Friday, July 10th. Finally, Morgan Stanley upped their price objective on shares of Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chubb presently has a consensus rating of “Hold” and a consensus price target of $361.00.
Read Our Latest Stock Report on Chubb
Insider Buying and Selling at Chubb
In other news, Director Michael Connors sold 5,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director owned 12,803 shares in the company, valued at approximately $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction dated 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 approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by company insiders.
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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