Lowe Brockenbrough & Co. Inc. lowered its position in shares of Chubb Limited (NYSE:CB - Free Report) by 23.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,910 shares of the financial services provider's stock after selling 7,540 shares during the period. Lowe Brockenbrough & Co. Inc.'s holdings in Chubb were worth $7,206,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors boosted its stake in Chubb by 6.6% in the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider's stock worth $2,849,677,000 after buying an additional 685,677 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Chubb by 44.4% in the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider's stock worth $1,739,625,000 after acquiring an additional 2,064,730 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Chubb by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider's stock valued at $1,258,202,000 after purchasing an additional 63,891 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Chubb by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider's stock valued at $938,663,000 after purchasing an additional 104,986 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider's stock worth $918,294,000 after purchasing an additional 457,881 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have issued reports on CB shares. Bank of America upped their price target on shares of Chubb from $275.00 to $282.00 and gave the company an "underperform" rating in a research report on Thursday, October 10th. Barclays started coverage on Chubb in a research report on Wednesday, September 4th. They set an "overweight" rating and a $349.00 price target on the stock. Morgan Stanley boosted their price objective on Chubb from $295.00 to $300.00 and gave the company an "equal weight" rating in a research report on Wednesday. Royal Bank of Canada raised their target price on shares of Chubb from $285.00 to $295.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Finally, Piper Sandler upped their price target on shares of Chubb from $281.00 to $305.00 and gave the company an "overweight" rating in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $287.26.
Check Out Our Latest Report on Chubb
Chubb Stock Down 1.8 %
Chubb stock traded down $5.03 on Friday, hitting $277.41. 1,779,579 shares of the stock traded hands, compared to its average volume of 1,606,941. Chubb Limited has a 1 year low of $215.54 and a 1 year high of $302.05. The firm has a market cap of $112.11 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 5.86 and a beta of 0.66. The company has a current ratio of 0.35, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The business's fifty day simple moving average is $288.23 and its 200 day simple moving average is $270.82.
Chubb (NYSE:CB - Get Free Report) last issued its quarterly 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 during the quarter, compared to analysts' expectations of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. Chubb's revenue was up 5.5% on a year-over-year basis. During the same period last year, the company posted $4.95 EPS. As a group, sell-side analysts forecast that Chubb Limited will post 21.42 earnings per share for the current year.
Chubb Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were paid a $0.91 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.64 annualized dividend and a dividend yield of 1.31%. Chubb's payout ratio is currently 14.91%.
Insider Activity at Chubb
In related news, insider John J. Lupica sold 15,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 103,950 shares of the company's stock, valued at approximately $29,676,685.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the sale, the executive vice president now directly owns 44,632 shares in the company, valued at $12,187,213.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John J. Lupica sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the transaction, the insider now owns 103,950 shares in the company, valued at approximately $29,676,685.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,636 shares of company stock valued at $24,874,208 in the last 90 days. Corporate insiders own 0.86% of the company's stock.
Chubb Profile
(
Free Report)
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.
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