Chubb Limited $CB Stock: Cooke & Bieler LP Lowers Position

Cooke & Bieler LP lessened its position in Chubb Limited (NYSE:CB) by 35.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 222,836 shares of the financial services provider’s stock after selling 121,052 shares during the period. Cooke & Bieler LP’s holdings in Chubb were worth $72,477,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Stillwater Wealth Management Group raised its holdings in Chubb by 3.3% in the 3rd quarter. Stillwater Wealth Management Group now owns 7,249 shares of the financial services provider’s stock valued at $2,358,000 after acquiring an additional 229 shares during the last quarter. Sawyer & Company Inc purchased a new position in shares of Chubb during the 3rd quarter worth $801,000. Sowell Financial Services LLC lifted its stake in shares of Chubb by 98.0% during the 3rd quarter. Sowell Financial Services LLC now owns 14,329 shares of the financial services provider’s stock worth $4,660,000 after purchasing an additional 7,093 shares during the period. Atticus Wealth Management LLC boosted its holdings in shares of Chubb by 3.7% during the third quarter. Atticus Wealth Management LLC now owns 815 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 29 shares during the last quarter. Finally, Bell Bank boosted its holdings in shares of Chubb by 5.4% during the third quarter. Bell Bank now owns 1,681 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 86 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the subject of a number of recent analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Chubb in a research report on Wednesday. Evercore reiterated an “outperform” rating and set a $374.00 target price on shares of Chubb in a research report on Friday, July 10th. UBS Group increased their target price on Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. The Goldman Sachs Group raised their price target on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Finally, Piper Sandler raised their price target on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $358.36.

Chubb News Summary

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Quarterly results exceeded expectations. Chubb reported $7.66 in adjusted earnings per share, above the $6.79 consensus estimate, while revenue reached $16.20 billion versus expectations of $15.71 billion. Earnings also increased from $7.49 per share a year earlier. Chubb quarterly earnings report
• Positive Sentiment: Underlying business momentum remained strong. Core operating income totaled approximately $2.98 billion, overseas general property-and-casualty premiums grew 6.7%, and net premiums written increased. Record investment income and higher life-insurance income also helped offset pressure in underwriting. Chubb long-term investor takeaways
• Positive Sentiment: Analyst sentiment improved in one notable instance. Zacks upgraded Chubb to a Rank #2, or Buy, citing improved earnings prospects, which could support investor interest. Zacks Chubb upgrade
• Neutral Sentiment: Management maintained an upbeat outlook. The earnings call highlighted profitability, premium growth and continued benefits from investment income, but investors are evaluating whether the strong performance is already reflected in the share price. Chubb earnings call highlights
• Negative Sentiment: Catastrophe losses pressured underwriting results. Rising catastrophe claims remain a risk for future earnings and temper the otherwise strong quarter. Cantor Fitzgerald reaffirmed a Neutral rating with a $333 price target, below the stock’s recently reported $354.81 level, while another analysis said much of the strong Q3 performance may already be reflected in the valuation. Chubb valuation analysis

Insider Activity

In related news, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. The trade was a 30.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph Wayland sold 8,502 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.37% of the company’s stock.

Chubb Stock Down 0.8%

Shares of NYSE CB opened at $354.81 on Thursday. The stock has a fifty day moving average price of $341.06 and a 200 day moving average price of $337.07. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 12-month low of $272.20 and a 12-month high of $365.91. The company has a market cap of $136.89 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.57 and a beta of 0.36.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, topping analysts’ consensus estimates of $6.77 by $0.89. Chubb had a return on equity of 14.33% and a net margin of 18.15%. The company had revenue of $16.20 billion for the quarter, compared to analysts’ expectations of $15.71 billion. During the same quarter in the previous year, the firm posted $7.49 earnings per share. Research analysts anticipate that Chubb Limited will post 27.72 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were paid a $1.02 dividend. The ex-dividend date was Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. Chubb’s dividend payout ratio (DPR) is 14.43%.

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.