Corebridge Financial Inc. Sells 4,316 Shares of Chubb Limited (NYSE:CB)

Corebridge Financial Inc. lessened its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,311 shares of the financial services provider's stock after selling 4,316 shares during the quarter. Corebridge Financial Inc.'s holdings in Chubb were worth $27,716,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Continuum Advisory LLC lifted its position in Chubb by 56.5% during the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 35 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Chubb during the 3rd quarter valued at $29,000. Raelipskie Partnership purchased a new stake in shares of Chubb during the 3rd quarter valued at $29,000. Sierra Ocean LLC bought a new stake in shares of Chubb during the 4th quarter worth $29,000. Finally, Crowley Wealth Management Inc. purchased a new position in Chubb in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Activity

In related news, EVP Timothy Alan Boroughs sold 14,748 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the completion of the sale, the executive vice president now owns 29,194 shares in the company, valued at approximately $8,644,927.28. This represents a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 25,728 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total value of $7,498,425.60. Following the completion of the transaction, the chief executive officer now directly owns 584,395 shares in the company, valued at $170,321,922.75. The trade was a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,470 shares of company stock valued at $18,562,730 in the last 90 days. 0.86% of the stock is currently owned by insiders.

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Chubb Stock Down 0.7 %

Chubb stock traded down $2.00 during mid-day trading on Friday, hitting $296.36. The company had a trading volume of 2,094,520 shares, compared to its average volume of 1,596,050. Chubb Limited has a 12 month low of $238.85 and a 12 month high of $302.05. The company has a market capitalization of $118.67 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. The stock's 50 day moving average price is $279.26 and its two-hundred day moving average price is $281.50. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, topping 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%. As a group, sell-side analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, March 14th. Chubb's dividend payout ratio is currently 16.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Chubb from $296.00 to $300.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Royal Bank of Canada reissued an "outperform" rating and issued a $320.00 price target on shares of Chubb in a research note on Thursday, January 30th. Barclays dropped their price target on shares of Chubb from $349.00 to $324.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Hsbc Global Res upgraded Chubb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Finally, Keefe, Bruyette & Woods upped their target price on Chubb from $328.00 to $329.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Two equities 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $301.00.

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.