Truist Financial Corp Sells 393,885 Shares of Chubb Limited (NYSE:CB)

Truist Financial Corp trimmed its position in shares of Chubb Limited (NYSE:CB) by 52.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 350,274 shares of the financial services provider’s stock after selling 393,885 shares during the quarter. Truist Financial Corp owned approximately 0.09% of Chubb worth $79,162,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CB. ZRC Wealth Management LLC acquired a new position in shares of Chubb in the fourth quarter worth approximately $29,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Chubb during the fourth quarter valued at approximately $32,000. Naples Money Management LLC bought a new stake in shares of Chubb during the fourth quarter valued at approximately $34,000. Bell Investment Advisors Inc increased its holdings in shares of Chubb by 39.6% during the third quarter. Bell Investment Advisors Inc now owns 208 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 59 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in Chubb during the fourth quarter worth $59,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

CB traded down $0.51 during trading on Friday, reaching $245.45. 1,565,900 shares of the company were exchanged, compared to its average volume of 1,523,435. The company’s 50-day moving average is $252.33 and its two-hundred day moving average is $235.52. The company has a market cap of $99.65 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.16 and a beta of 0.62. The company has a quick ratio of 0.29, a current ratio of 0.35 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12-month low of $183.71 and a 12-month high of $260.58.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.41 EPS. Research analysts forecast that Chubb Limited will post 21.23 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.86 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a yield of 1.40%. Chubb’s dividend payout ratio is currently 15.27%.

Insiders Place Their Bets

In other news, CAO Annmarie T. Hagan sold 7,180 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the transaction, the chief accounting officer now directly owns 6,105 shares in the company, valued at approximately $1,495,969.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Annmarie T. Hagan sold 7,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the transaction, the chief accounting officer now directly owns 6,105 shares in the company, valued at approximately $1,495,969.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John J. Lupica sold 34,464 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total value of $8,923,418.88. Following the transaction, the insider now owns 130,937 shares in the company, valued at $33,902,208.04. The disclosure for this sale can be found here. Insiders have sold 116,043 shares of company stock worth $29,766,694 in the last ninety days. 0.86% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com downgraded Chubb from a “buy” rating to a “hold” rating in a report on Wednesday. UBS Group boosted their price objective on Chubb from $245.00 to $256.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. boosted their price objective on Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Piper Sandler reissued an “overweight” rating and issued a $282.00 price objective on shares of Chubb in a research report on Monday, April 1st. Finally, The Goldman Sachs Group boosted their price objective on Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $266.89.

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.