Chubb Limited $CB Stock: State of Alaska Department of Revenue Increases Holdings

State of Alaska Department of Revenue lifted its stake in shares of Chubb Limited (NYSE:CB) by 100.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 71,012 shares of the financial services provider’s stock after acquiring an additional 35,669 shares during the quarter. State of Alaska Department of Revenue’s holdings in Chubb were worth $23,097,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. XXEC Inc. acquired a new stake in shares of Chubb during the second quarter valued at approximately $228,226,000. Berkshire Hathaway Inc grew its position in Chubb by 9.3% during the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock worth $10,689,855,000 after purchasing an additional 2,916,288 shares in the last quarter. BlackRock Inc. purchased a new position in Chubb during the 2nd quarter worth approximately $9,913,336,000. GQG Partners LLC acquired a new stake in Chubb during the 2nd quarter valued at $4,250,113,000. Finally, Bank of America Corp DE boosted its position 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 worth $1,599,868,000 after buying an additional 147,876 shares during the period. 83.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. UBS Group upped their price target on Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Piper Sandler lifted their target price on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Morgan Stanley dropped their target price on Chubb from $360.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 6th. Weiss Ratings lowered shares of Chubb from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Chubb has a consensus rating of “Hold” and an average price target of $358.36.

Insider Activity at Chubb

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

Chubb Stock Up 1.1%

CB traded up $3.89 during trading on Thursday, reaching $354.04. 668,927 shares of the stock traded hands, compared to its average volume of 1,703,970. The stock’s 50-day simple moving average is $340.26 and its two-hundred day simple moving average is $335.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The stock has a market cap of $136.59 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.52 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 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%. 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 prior year, the firm posted $6.14 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Chubb Limited will post 27.68 EPS for the current year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were paid a $1.02 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. Chubb’s payout ratio is presently 14.43%.

Chubb 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.