Mycio Wealth Partners LLC reduced its position in shares of Chubb Limited (NYSE:CB – Free Report) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 973,607 shares of the financial services provider’s stock after selling 11,479 shares during the period. Chubb comprises 56.1% of Mycio Wealth Partners LLC’s portfolio, making the stock its largest position. Mycio Wealth Partners LLC’s holdings in Chubb were worth $316,666,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in CB. M Holdings Securities Inc. acquired a new stake in shares of Chubb during the third quarter valued at about $898,000. Brighton Jones LLC increased its position in shares of Chubb by 2.9% during the third quarter. Brighton Jones LLC now owns 26,914 shares of the financial services provider’s stock worth $8,754,000 after acquiring an additional 769 shares during the last quarter. StoneX Group Inc. increased its position in shares of Chubb by 22.0% during the third quarter. StoneX Group Inc. now owns 1,149 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 207 shares during the last quarter. AlphaCentric Advisors LLC acquired a new position in shares of Chubb in the third quarter worth about $399,000. Finally, Plancorp LLC lifted its stake in shares of Chubb by 10.7% in the third quarter. Plancorp LLC now owns 1,272 shares of the financial services provider’s stock worth $414,000 after acquiring an additional 123 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $333.00 price target on shares of Chubb in a report on Wednesday, October 21st. HSBC restated a “hold” rating and set a $359.00 price objective on shares of Chubb in a report on Wednesday, October 7th. Morgan Stanley upped their target price on Chubb from $350.00 to $360.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 27th. Piper Sandler upped their target price on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings upgraded Chubb from a “buy (b)” rating to a “buy (a)” rating in a research note on Friday, October 16th. Two research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $362.78.
Get Our Latest Stock Analysis on CB
Insider Transactions at Chubb
In related news, EVP Timothy Boroughs sold 13,596 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $356.77, for a total transaction of $4,850,644.92. Following the sale, the executive vice president owned 5,588 shares in the company, valued at $1,993,630.76. This represents a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael P. Connors sold 5,500 shares of the stock in a transaction dated 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 sale, the director owned 12,803 shares in the company, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 32,985 shares of company stock worth $11,748,463. 0.37% of the stock is currently owned by insiders.
Chubb Price Performance
Shares of CB opened at $365.07 on Monday. The stock has a 50 day moving average of $346.04 and a 200-day moving average of $335.48. Chubb Limited has a 52 week low of $282.99 and a 52 week high of $384.26. The firm has a market cap of $139.49 billion, a price-to-earnings ratio of 12.77, a PEG 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 (NYSE:CB – Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $15.66 billion. During the same quarter in the previous year, the company posted $7.49 earnings per share. As a group, 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. Stockholders 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 (DPR) is presently 14.28%.
Chubb Company Profile
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.
Recommended Stories
- Five stocks we like better than Chubb
- Lemonade’s Revenue Soars 73%—So Why Did Its Stock Turn Sour After Earnings?
- Anthropic’s S-1 Strengthens the Case for Broadcom’s AI Growth
- After the Midterms, Which of These 3 Defense ETFs Looks Strongest?
- The Ugly Truth Behind SoundHound’s Q3 Results
Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB – Free Report).
Receive News & Ratings for Chubb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chubb and related companies with MarketBeat.com's FREE daily email newsletter.
