Ethic Inc. decreased its stake in Chubb Limited (NYSE:CB – Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,281 shares of the financial services provider’s stock after selling 1,492 shares during the period. Ethic Inc.’s holdings in Chubb were worth $17,980,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. StoneX Group Inc. raised its stake in Chubb by 22.0% during the 3rd quarter. StoneX Group Inc. now owns 1,149 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 207 shares during the last quarter. AlphaCentric Advisors LLC bought a new stake in Chubb in the 3rd quarter valued at $399,000. Plancorp LLC boosted its holdings in Chubb by 10.7% in the 3rd quarter. Plancorp LLC now owns 1,272 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 123 shares during the period. LightSquare Wealth Management LLC boosted its holdings in Chubb by 5.5% in the 3rd quarter. LightSquare Wealth Management LLC now owns 1,386 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 72 shares during the period. Finally, Ashton Thomas Private Wealth LLC grew its position in Chubb by 15.5% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,061 shares of the financial services provider’s stock worth $996,000 after purchasing an additional 411 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.
Insider Buying and Selling at Chubb
In other news, Director Michael P. Connors sold 5,500 shares of the firm’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 directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy Boroughs sold 13,596 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $356.77, for a total transaction of $4,850,644.92. Following the transaction, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,985 shares of company stock valued at $11,748,463 in the last 90 days. 0.37% of the stock is currently owned by company insiders.
Chubb Stock Performance
CB opened at $365.07 on Friday. The stock has a market cap of $139.49 billion, a PE ratio of 12.77, a P/E/G ratio of 1.69 and a beta of 0.29. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. Chubb Limited has a 1 year low of $282.99 and a 1 year high of $384.26. The stock’s 50 day simple moving average is $346.04 and its 200-day simple moving average is $335.48.
Chubb (NYSE:CB – Get Free Report) last issued its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, topping the consensus estimate of $6.77 by $0.89. The firm had revenue of $16.20 billion during the quarter, compared to analysts’ expectations of $15.66 billion. Chubb had a return on equity of 14.41% and a net margin of 18.15%. During the same period last year, the business earned $7.49 earnings per share. Sell-side analysts forecast that Chubb Limited will post 28.89 EPS for the current year.
Chubb Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 11th. Chubb’s payout ratio is 14.28%.
Analysts Set New Price Targets
Several research firms have issued reports on CB. Weiss Ratings upgraded shares of Chubb from a “buy (b)” rating to a “buy (a)” rating in a report on Friday, October 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $333.00 price objective on shares of Chubb in a research report on Wednesday, October 21st. Wells Fargo & Company increased their target price on shares of Chubb from $343.00 to $366.00 and gave the company an “equal weight” rating in a research note on Thursday, October 22nd. Citigroup reiterated a “buy” rating and issued a $405.00 target price (up from $395.00) on shares of Chubb in a research note on Wednesday, October 21st. Finally, Atlantic Securities set a $301.00 target price on Chubb in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Chubb has an average rating of “Hold” and a consensus target price of $362.78.
About Chubb
Chubb Limited is a global insurance company that provides property and casualty insurance, accident and health coverage, life insurance, and reinsurance. Its customers include individuals, businesses, and institutions, with products ranging from personal and commercial coverage to specialized insurance solutions.
The company serves customers across North America, Europe, Asia-Pacific, Latin America, and other markets. Its operations include underwriting, claims services, and risk management for a broad range of industries and personal insurance needs.
Chubb’s current corporate history dates to 2016, when ACE Limited acquired The Chubb Corporation and adopted the Chubb name.
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