Massachusetts Financial Services Co. MA Decreases Stake in Chubb Limited (NYSE:CB)

Massachusetts Financial Services Co. MA trimmed its stake in Chubb Limited (NYSE:CB - Free Report) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,722,514 shares of the financial services provider's stock after selling 198,832 shares during the quarter. Chubb makes up about 0.8% of Massachusetts Financial Services Co. MA's portfolio, making the stock its 22nd biggest holding. Massachusetts Financial Services Co. MA owned 2.16% of Chubb worth $2,515,486,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new stake in Chubb during the 1st quarter valued at $25,000. Beacon Capital Management LLC increased its stake in Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider's stock worth $25,000 after acquiring an additional 42 shares during the period. Chilton Capital Management LLC bought a new stake in shares of Chubb during the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new stake in shares of Chubb during the 2nd quarter worth $28,000. Finally, Kozak & Associates Inc. bought a new position in shares of Chubb in the third quarter worth $29,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Trading Up 0.9 %

CB stock traded up $2.51 during mid-day trading on Thursday, reaching $285.35. The company's stock had a trading volume of 993,471 shares, compared to its average volume of 1,602,722. The company has a market cap of $115.02 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 6.62 and a beta of 0.67. Chubb Limited has a 12 month low of $216.90 and a 12 month high of $302.05. The business's 50 day moving average price is $287.60 and its 200 day moving average price is $273.95. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.98 by $0.74. The company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. Chubb's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.95 EPS. On average, equities research analysts predict that Chubb Limited will post 21.77 EPS for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.28%. Chubb's dividend payout ratio (DPR) is currently 14.91%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CB shares. Royal Bank of Canada raised their target price on shares of Chubb from $285.00 to $295.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Wells Fargo & Company increased their target price on Chubb from $266.00 to $268.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods upped their price objective on Chubb from $305.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Piper Sandler lifted their target price on shares of Chubb from $281.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday, October 4th. Finally, Roth Mkm upped their price target on shares of Chubb from $280.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $287.37.

Insiders Place Their Bets

In other Chubb news, Director Michael G. Atieh sold 261 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the sale, the director now directly owns 39,172 shares of the company's stock, valued at approximately $11,261,558.28. The trade was a 0.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John J. Lupica sold 15,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total value of $4,282,350.00. Following the sale, the insider now owns 103,950 shares of the company's stock, valued at $29,676,685.50. This trade represents a 12.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,715 shares of company stock worth $23,803,540. Corporate insiders own 0.86% of the company's stock.

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.