M&T Bank Corp Cuts Stock Position in Chubb Limited (NYSE:CB)

M&T Bank Corp cut its holdings in Chubb Limited (NYSE:CB - Free Report) by 20.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,652 shares of the financial services provider's stock after selling 29,248 shares during the period. M&T Bank Corp's holdings in Chubb were worth $32,199,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Soltis Investment Advisors LLC lifted its holdings in shares of Chubb by 14.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 1,263 shares of the financial services provider's stock valued at $364,000 after acquiring an additional 163 shares during the last quarter. TD Private Client Wealth LLC raised its position in Chubb by 11.3% during the third quarter. TD Private Client Wealth LLC now owns 6,802 shares of the financial services provider's stock valued at $1,962,000 after purchasing an additional 689 shares during the period. Asset Allocation Strategies LLC bought a new stake in shares of Chubb in the 3rd quarter valued at approximately $207,000. Coldstream Capital Management Inc. boosted its holdings in shares of Chubb by 20.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,497 shares of the financial services provider's stock worth $1,870,000 after purchasing an additional 1,124 shares during the period. Finally, Brophy Wealth Management LLC purchased a new stake in Chubb during the 3rd quarter valued at $274,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of Chubb from $295.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Piper Sandler boosted their price objective on Chubb from $281.00 to $305.00 and gave the company an "overweight" rating in a report on Friday, October 4th. JPMorgan Chase & Co. increased their target price on Chubb from $291.00 to $294.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their target price on shares of Chubb from $294.00 to $295.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Finally, JMP Securities raised their price target on shares of Chubb from $300.00 to $325.00 and gave the stock a "market outperform" rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Chubb currently has a consensus rating of "Hold" and a consensus target price of $287.37.

Chubb Stock Performance

NYSE:CB traded up $0.04 during trading hours on Friday, hitting $273.20. 2,945,881 shares of the company were exchanged, compared to its average volume of 1,612,348. The company's 50 day moving average price is $284.63 and its 200-day moving average price is $277.10. The stock has a market capitalization of $110.13 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 6.43 and a beta of 0.67. Chubb Limited has a 52-week low of $216.90 and a 52-week high of $302.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. During the same quarter in the previous year, the business earned $4.95 EPS. The company's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts forecast that Chubb Limited will post 21.82 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.33%. Chubb's payout ratio is currently 14.91%.

Chubb Company 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.