1832 Asset Management L.P. grew its holdings in Chubb Limited (NYSE:CB – Free Report) by 0.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 14,123 shares of the financial services provider’s stock after buying an additional 61 shares during the quarter. 1832 Asset Management L.P.’s holdings in Chubb were worth $3,192,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Wellington Management Group LLP increased its position in Chubb by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 18,522,413 shares of the financial services provider’s stock valued at $3,855,996,000 after purchasing an additional 138,142 shares during the period. Deutsche Bank AG raised its stake in Chubb by 426.8% in the third quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock worth $3,355,762,000 after buying an additional 13,059,385 shares in the last quarter. Capital World Investors lifted its holdings in Chubb by 0.4% in the fourth quarter. Capital World Investors now owns 10,311,415 shares of the financial services provider’s stock worth $2,330,272,000 after buying an additional 43,845 shares during the period. Norges Bank bought a new stake in Chubb during the 4th quarter valued at approximately $957,756,000. Finally, Northern Trust Corp grew its holdings in shares of Chubb by 2.3% during the 3rd quarter. Northern Trust Corp now owns 4,221,419 shares of the financial services provider’s stock worth $878,815,000 after acquiring an additional 93,885 shares during the period. 83.81% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on CB. Piper Sandler reaffirmed an “overweight” rating and issued a $282.00 price target on shares of Chubb in a research note on Monday, April 1st. StockNews.com cut Chubb from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Citigroup reaffirmed a “neutral” rating and issued a $275.00 price target (up previously from $238.00) on shares of Chubb in a research report on Thursday, March 14th. Roth Mkm reaffirmed a “buy” rating and issued a $280.00 target price on shares of Chubb in a report on Wednesday, April 24th. Finally, HSBC reiterated a “hold” rating and set a $270.00 price target (down previously from $275.00) on shares of Chubb in a report on Thursday, April 4th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Chubb presently has an average rating of “Moderate Buy” and an average target price of $266.70.
Check Out Our Latest Analysis on Chubb
Chubb Price Performance
Shares of NYSE:CB opened at $267.24 on Friday. The firm’s 50 day simple moving average is $255.30 and its two-hundred day simple moving average is $244.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $108.52 billion, a P/E ratio of 11.86, a P/E/G ratio of 4.31 and a beta of 0.66. Chubb Limited has a 1-year low of $183.71 and a 1-year high of $275.41.
Chubb (NYSE:CB – Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same period last year, the firm earned $4.41 earnings per share. The business’s quarterly revenue was up 14.1% on a year-over-year basis. Research analysts expect that Chubb Limited will post 21.23 EPS for the current fiscal year.
Chubb Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a dividend of $0.91 per share. This is a positive change from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date is Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.36%. Chubb’s dividend payout ratio (DPR) is presently 15.27%.
Insider Activity at Chubb
In related news, EVP Joseph F. Wayland sold 26,946 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $257.02, for a total value of $6,925,660.92. Following the sale, the executive vice president now owns 95,252 shares in the company, valued at $24,481,669.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Chubb news, EVP Joseph F. Wayland sold 26,946 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $257.02, for a total transaction of $6,925,660.92. Following the sale, the executive vice president now directly owns 95,252 shares of the company’s stock, valued at $24,481,669.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael G. Atieh sold 716 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $269.70, for a total value of $193,105.20. Following the completion of the sale, the director now directly owns 39,295 shares of the company’s stock, valued at $10,597,861.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 115,065 shares of company stock valued at $29,518,703. Insiders own 0.86% of the company’s stock.
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.
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