Allstate Corp Acquires Shares of 11,617 Chubb Limited (NYSE:CB)

Allstate Corp acquired a new position in Chubb Limited (NYSE:CB - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,617 shares of the financial services provider's stock, valued at approximately $3,210,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Horizon Investment Services LLC lifted its position in Chubb by 2.8% in the fourth quarter. Horizon Investment Services LLC now owns 19,649 shares of the financial services provider's stock valued at $5,429,000 after buying an additional 530 shares during the last quarter. Gardner Lewis Asset Management L P purchased a new stake in shares of Chubb in the 4th quarter valued at approximately $387,000. Level Four Advisory Services LLC lifted its holdings in shares of Chubb by 0.4% in the 4th quarter. Level Four Advisory Services LLC now owns 13,132 shares of the financial services provider's stock worth $3,629,000 after acquiring an additional 49 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Chubb by 2.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 39,355 shares of the financial services provider's stock worth $10,874,000 after purchasing an additional 961 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Chubb by 0.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 260,483 shares of the financial services provider's stock valued at $71,971,000 after purchasing an additional 1,289 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

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Chubb Stock Up 0.2 %

Shares of CB traded up $0.62 during mid-day trading on Wednesday, reaching $302.02. The company's stock had a trading volume of 1,521,545 shares, compared to its average volume of 1,602,108. The company's 50 day moving average is $280.57 and its 200 day moving average is $281.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The stock has a market cap of $120.93 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. Chubb Limited has a 12-month low of $238.85 and a 12-month high of $304.34.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, March 14th. Chubb's payout ratio is currently 16.02%.

Analyst Ratings Changes

CB has been the topic of a number of research reports. HSBC upgraded Chubb from a "hold" rating to a "buy" rating and set a $323.00 price target on the stock in a research note on Wednesday, March 5th. Royal Bank of Canada reissued an "outperform" rating and set a $320.00 target price on shares of Chubb in a research note on Thursday, January 30th. JMP Securities reaffirmed a "market outperform" rating and issued a $325.00 target price on shares of Chubb in a research report on Wednesday, January 29th. Piper Sandler increased their price target on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Wells Fargo & Company lowered their price objective on shares of Chubb from $268.00 to $264.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $303.14.

Insider Activity at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total value of $2,869,600.00. Following the completion of the sale, the executive vice president now owns 77,703 shares in the company, valued at approximately $22,297,652.88. The trade was a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the executive vice president now directly owns 29,194 shares of the company's stock, valued at $8,644,927.28. The trade was a 33.56 % decrease in their ownership of the stock. 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 in the last three months. 0.86% of the stock is currently owned by company insiders.

Chubb Profile

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.