American Century Companies Inc. Sells 12,610 Shares of Chubb Limited (NYSE:CB)

American Century Companies Inc. cut its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 91,393 shares of the financial services provider's stock after selling 12,610 shares during the period. American Century Companies Inc.'s holdings in Chubb were worth $25,252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Continuum Advisory LLC raised its position in shares of Chubb by 56.5% in the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider's stock worth $28,000 after acquiring an additional 35 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in Chubb in the third quarter worth $29,000. Raelipskie Partnership purchased a new stake in Chubb in the third quarter worth $29,000. Sierra Ocean LLC bought a new position in Chubb in the fourth quarter worth $29,000. Finally, Strategic Financial Concepts LLC purchased a new position in Chubb during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Stock Performance

CB traded down $0.81 during mid-day trading on Wednesday, reaching $300.59. 779,441 shares of the company traded hands, compared to its average volume of 1,787,493. The stock has a market capitalization of $120.36 billion, a P/E ratio of 13.23, a P/E/G ratio of 3.36 and a beta of 0.66. Chubb Limited has a 52-week low of $238.85 and a 52-week high of $304.34. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The company's fifty day moving average price is $280.57 and its 200-day moving average price is $281.60.

Remove Ads

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

Chubb Dividend Announcement

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

Insiders Place Their Bets

In related news, CAO George F. Ohsiek sold 763 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the completion of the sale, the chief accounting officer now directly owns 20,044 shares of the company's stock, valued at approximately $5,820,978.04. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 12,231 shares of Chubb stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the transaction, the executive vice president now directly owns 78,422 shares in the company, valued at $23,120,374.04. This represents a 13.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,470 shares of company stock worth $18,562,730. Company insiders own 0.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CB shares. Piper Sandler upped their price objective on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday. HSBC upgraded Chubb from a "hold" rating to a "buy" rating and set a $323.00 price objective for the company in a research note on Wednesday, March 5th. Royal Bank of Canada restated an "outperform" rating and set a $320.00 price target on shares of Chubb in a report on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on shares of Chubb from $296.00 to $300.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Chubb from $328.00 to $329.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Chubb presently has a consensus rating of "Hold" and a consensus target price of $303.14.

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.