Mirae Asset Global Investments Co. Ltd. bought a new stake in Chubb Limited (NYSE:CB – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 121,789 shares of the financial services provider’s stock, valued at approximately $39,612,000.
Several other hedge funds also recently made changes to their positions in CB. XXEC Inc. purchased a new position in Chubb during the second quarter valued at $228,226,000. Berkshire Hathaway Inc purchased a new stake in shares of Chubb in the 2nd quarter worth about $11,670,067,000. BlackRock Inc. purchased a new stake in shares of Chubb in the 2nd quarter worth about $9,913,336,000. GQG Partners LLC purchased a new position in Chubb during the 2nd quarter valued at about $4,250,113,000. Finally, Bank of America Corp DE boosted its stake in Chubb by 3.1% during the first quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider’s stock worth $1,599,868,000 after acquiring an additional 147,876 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.
Chubb Stock Performance
Shares of CB stock opened at $364.12 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.23. Chubb Limited has a 52 week low of $273.35 and a 52 week high of $369.00. The firm has a market capitalization of $139.12 billion, a PE ratio of 12.74, a P/E/G ratio of 1.69 and a beta of 0.36. The company has a 50 day moving average price of $343.33 and a 200-day moving average price of $333.76.
Chubb (NYSE:CB – Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.89. Chubb had a net margin of 18.15% and a return on equity of 14.41%. The firm had revenue of $16.20 billion for the quarter, compared to analysts’ expectations of $15.66 billion. During the same quarter in the prior year, the business earned $7.49 EPS. As a group, equities research analysts expect that Chubb Limited will post 28.82 earnings per share for the current year.
Chubb Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, September 11th. Chubb’s dividend payout ratio is presently 14.28%.
Insiders Place Their Bets
In other news, Director Michael Connors sold 5,500 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares of the company’s stock, valued at $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy Boroughs sold 13,596 shares of the business’s 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 transaction, the executive vice president owned 5,588 shares in the company, valued at $1,993,630.76. The trade was a 70.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on CB shares. JPMorgan Chase & Co. upped their price objective on shares of Chubb from $371.00 to $374.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. Weiss Ratings raised Chubb from a “buy (b)” rating to a “buy (a)” rating in a research report on Friday, October 16th. Citigroup restated a “buy” rating and issued a $405.00 price target (up from $395.00) on shares of Chubb in a research note on Wednesday, October 21st. Cantor Fitzgerald reiterated a “neutral” rating and set a $333.00 price objective on shares of Chubb in a research note on Wednesday, October 21st. Finally, Evercore reissued an “outperform” rating and issued a $374.00 target price on shares of Chubb in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $362.78.
Read Our Latest Analysis on CB
Chubb Company 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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