Chubb Limited $CB Stock Acquired by CX Institutional

CX Institutional lifted its holdings in shares of Chubb Limited (NYSE:CB) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,459 shares of the financial services provider’s stock after buying an additional 4,359 shares during the period. CX Institutional’s holdings in Chubb were worth $11,743,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Berkshire Hathaway Inc purchased a new stake in Chubb during the 2nd quarter valued at approximately $11,670,067,000. BlackRock Inc. purchased a new position in shares of Chubb in the 2nd quarter valued at approximately $9,913,336,000. GQG Partners LLC acquired a new position in shares of Chubb in the second quarter valued at approximately $4,250,113,000. Bank of America Corp DE increased its holdings in shares of Chubb by 3.1% in the first quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider’s stock valued at $1,599,868,000 after purchasing an additional 147,876 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Chubb by 74.3% during the first quarter. Bank of New York Mellon Corp now owns 3,420,692 shares of the financial services provider’s stock worth $1,114,906,000 after purchasing an additional 1,457,992 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

NYSE:CB traded down $0.29 during trading hours on Friday, hitting $331.01. The company’s stock had a trading volume of 1,970,575 shares, compared to its average volume of 1,726,119. Chubb Limited has a 52-week low of $265.30 and a 52-week high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The business’s 50-day moving average is $343.03 and its two-hundred day moving average is $335.13. The company has a market capitalization of $127.70 billion, a PE ratio of 11.71, a PEG ratio of 1.55 and a beta of 0.36.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same period in the previous year, the firm earned $6.14 EPS. The business’s revenue was up 3.6% on a year-over-year basis. As a group, research analysts anticipate that Chubb Limited will post 27.35 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb’s dividend payout ratio is presently 14.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Barclays set a $387.00 price target on Chubb in a report on Tuesday, July 7th. Morgan Stanley upped their price objective on shares of Chubb from $340.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 19th. Piper Sandler raised their target price on shares of Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group lifted their target price on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Finally, Citigroup reissued a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $360.77.

Insider Activity

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

Chubb Company Profile

Chubb Limited (NYSE: CB) is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.

The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers’ compensation, homeowners insurance, automobile coverage, and specialty insurance.