VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of Chubb Limited (NYSE:CB – Free Report) by 45.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,969 shares of the financial services provider’s stock after acquiring an additional 19,240 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Chubb were worth $20,155,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Equitable Holdings Inc. purchased a new stake in shares of Chubb in the second quarter worth approximately $4,139,000. Berkshire Hathaway Inc purchased a new position in Chubb during the 2nd quarter valued at $11,670,067,000. XXEC Inc. purchased a new position in Chubb during the 2nd quarter valued at $26,210,000. Douglas Lane & Associates LLC grew its position in Chubb by 2,748.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 467,591 shares of the financial services provider’s stock valued at $152,084,000 after acquiring an additional 451,173 shares during the last quarter. Finally, Glenview Trust Co bought a new position in Chubb in the 2nd quarter valued at $11,147,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.
Chubb Stock Up 0.5%
Shares of NYSE:CB opened at $364.12 on Friday. Chubb Limited has a 52-week low of $273.35 and a 52-week high of $369.00. The stock has a market cap of $139.12 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 1.69 and a beta of 0.36. The business’s 50 day moving average is $343.33 and its 200 day moving average is $333.76. The company has a quick ratio of 0.29, a current ratio of 0.28 and a debt-to-equity ratio of 0.23.
Chubb (NYSE:CB – Get Free Report) last issued its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share for the quarter, beating analysts’ consensus estimates of $6.77 by $0.89. The business had revenue of $16.20 billion during the quarter, compared to analyst estimates of $15.66 billion. Chubb had a return on equity of 14.41% and a net margin of 18.15%. During the same period in the previous year, the company posted $7.49 EPS. Sell-side analysts predict that Chubb Limited will post 28.82 EPS for the current year.
Chubb Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. Chubb’s dividend payout ratio is presently 14.28%.
Analyst Ratings Changes
A number of research firms have weighed in on CB. TD Cowen increased their target price on Chubb from $360.00 to $379.00 and gave the stock a “hold” rating in a research note on Wednesday. Citigroup reissued a “buy” rating and set a $405.00 target price (up from $395.00) on shares of Chubb in a research note on Wednesday, October 21st. Evercore restated an “outperform” rating and issued a $374.00 price target on shares of Chubb in a report on Friday, July 10th. Morgan Stanley raised their price target on shares of Chubb from $350.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 27th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $400.00 price objective on shares of Chubb in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chubb currently has an average rating of “Hold” and a consensus price target of $362.78.
Get Our Latest Research Report on Chubb
Insider Buying and Selling at Chubb
In other news, Director Michael Connors sold 5,500 shares of the firm’s stock in a transaction on 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. This trade represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy Boroughs sold 13,596 shares of Chubb stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $356.77, for a total value of $4,850,644.92. Following the completion of the sale, the executive vice president owned 5,588 shares of the company’s stock, valued at $1,993,630.76. The trade was a 70.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.37% of the company’s stock.
Chubb Profile
Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.
The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.
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