London Co. of Virginia Cuts Stock Position in Chubb Limited (NYSE:CB)

London Co. of Virginia reduced its stake in Chubb Limited (NYSE:CB) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 239,783 shares of the financial services provider’s stock after selling 7,114 shares during the period. London Co. of Virginia’s holdings in Chubb were worth $66,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CB. Demars Financial Group LLC grew its position in shares of Chubb by 26,761.4% during the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider’s stock valued at $1,481,094,000 after buying an additional 5,340,499 shares during the last quarter. Norges Bank bought a new stake in shares of Chubb in the 4th quarter worth approximately $1,169,720,000. Raymond James Financial Inc. bought a new stake in shares of Chubb in the 4th quarter worth approximately $1,158,897,000. Castlekeep Investment Advisors LLC acquired a new position in Chubb during the 4th quarter valued at approximately $336,972,000. Finally, GQG Partners LLC grew its position in shares of Chubb by 36.3% during the fourth quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock worth $1,223,932,000 after acquiring an additional 1,178,628 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In related news, EVP Timothy Alan Boroughs sold 14,748 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the sale, the executive vice president now directly owns 29,194 shares in the company, valued at $8,644,927.28. This trade represents a 33.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Evan G. Greenberg sold 25,728 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total transaction of $7,498,425.60. Following the completion of the sale, the chief executive officer now directly owns 584,395 shares of the company’s stock, valued at $170,321,922.75. The trade was a 4.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,470 shares of company stock valued at $18,562,730 over the last quarter. Corporate insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 price target on shares of Chubb in a research note on Wednesday, January 29th. Jefferies Financial Group lifted their price target on Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research report on Friday, April 11th. Piper Sandler lifted their target price on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a report on Wednesday, March 5th. Finally, Barclays decreased their price target on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $307.86.

Chubb Stock Up 0.3%

CB opened at $289.92 on Monday. The business has a 50 day moving average of $288.46 and a 200-day moving average of $280.58. The stock has a market capitalization of $116.18 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 3.36 and a beta of 0.57. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 1-year low of $251.42 and a 1-year high of $306.91.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, sell-side analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.26%. Chubb’s dividend payout ratio (DPR) is currently 17.52%.

About Chubb

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.