denkapparat Operations GmbH reduced its stake in shares of Chubb Limited (NYSE:CB – Free Report) by 27.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,012 shares of the financial services provider’s stock after selling 1,904 shares during the period. denkapparat Operations GmbH’s holdings in Chubb were worth $1,708,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. XXEC Inc. bought a new position in shares of Chubb in the 2nd quarter valued at approximately $228,226,000. Berkshire Hathaway Inc bought a new stake in Chubb during the second quarter worth approximately $11,670,067,000. BlackRock Inc. bought a new stake in Chubb during the second quarter worth approximately $9,913,336,000. GQG Partners LLC acquired a new position in Chubb during the second quarter valued at approximately $4,250,113,000. Finally, Bank of America Corp DE acquired a new position in Chubb during the second quarter valued at approximately $1,545,084,000. Institutional investors own 83.81% of the company’s stock.
Chubb Trading Up 2.7%
Shares of CB stock opened at $348.46 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The firm’s fifty day simple moving average is $348.27 and its 200 day simple moving average is $334.40. The firm has a market capitalization of $134.44 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.62 and a beta of 0.37.
Chubb Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio is presently 14.43%.
Insider Activity at Chubb
In related news, Director Michael Connors sold 5,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 12,803 shares in the company, valued at $4,417,035. This trade represents a 30.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the sale, the executive vice president directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on CB. Citizens Jmp restated a “market outperform” rating and issued a $400.00 price objective on shares of Chubb in a research note on Wednesday, July 22nd. Morgan Stanley raised their target price on shares of Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Mizuho upped their price target on shares of Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Barclays set a $387.00 price target on Chubb in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus price target of $361.00.
Check Out Our Latest Report on Chubb
About Chubb
Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.
In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.
Read More
- Five stocks we like better than Chubb
- The Path to $230 Billion: Broadcom Outlines the Next Phase of Its AI Growth Story
- NVIDIA’s Hugging Face Deal Raises a Bigger Question About Its AI Moat Now
- Dropping the Dough: Yum! Brands Strategically Trims the Fat
- These 3 Stock Charts Just Flashed the Dreaded Death Cross Pattern
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.
