Chubb Limited $CB Shares Bought by Calamos Wealth Management LLC

Calamos Wealth Management LLC lifted its position in Chubb Limited (NYSE:CB) by 22.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,262 shares of the financial services provider’s stock after buying an additional 12,770 shares during the period. Calamos Wealth Management LLC’s holdings in Chubb were worth $22,528,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. XXEC Inc. acquired a new position in Chubb in the second quarter valued at about $228,226,000. Berkshire Hathaway Inc acquired a new stake in shares of Chubb during the second quarter worth about $11,670,067,000. BlackRock Inc. acquired a new stake in shares of Chubb during the second quarter worth about $9,913,336,000. GQG Partners LLC bought a new position in shares of Chubb during the 2nd quarter valued at about $4,250,113,000. Finally, Bank of America Corp DE lifted its holdings in shares of Chubb by 3.1% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity at Chubb

In related news, Director Michael P. 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 transaction 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 represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy Boroughs sold 13,596 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $356.77, for a total value of $4,850,644.92. Following the completion of the transaction, the executive vice president owned 5,588 shares of the company’s stock, valued at approximately $1,993,630.76. This represents a 70.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 32,985 shares of company stock valued at $11,748,463. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup reiterated a “buy” rating and issued a $405.00 price objective (up from $395.00) on shares of Chubb in a research report on Wednesday, October 21st. TD Cowen lifted their price target on shares of Chubb from $360.00 to $379.00 and gave the company a “hold” rating in a research note on Wednesday, October 28th. UBS Group reiterated a “neutral” rating and issued a $380.00 price target on shares of Chubb in a report on Monday, October 26th. Weiss Ratings raised shares of Chubb from a “buy (b)” rating to a “buy (a)” rating in a research report on Friday, October 16th. Finally, Mizuho upped their target price on shares of Chubb from $336.00 to $350.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $362.78.

Chubb Stock Down 1.8%

CB traded down $6.56 during trading hours on Friday, hitting $365.07. 1,627,138 shares of the company’s stock were exchanged, compared to its average volume of 1,516,640. Chubb Limited has a 1-year low of $282.99 and a 1-year high of $384.26. The stock’s 50-day moving average is $346.04 and its two-hundred day moving average is $335.48. The stock has a market cap of $139.49 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.71 and a beta of 0.29. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.23.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.89. Chubb had a net margin of 18.15% and a return on equity of 14.41%. The firm had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.66 billion. During the same period in the previous year, the business earned $7.49 EPS. Sell-side analysts predict that Chubb Limited will post 28.89 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were issued a $1.02 dividend. The ex-dividend date was Friday, September 11th. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. Chubb’s dividend payout ratio (DPR) is presently 14.28%.

About Chubb

Chubb Limited is a global insurance company that provides property and casualty insurance, accident and health coverage, life insurance, and reinsurance. Its customers include individuals, businesses, and institutions, with products ranging from personal and commercial coverage to specialized insurance solutions.

The company serves customers across North America, Europe, Asia-Pacific, Latin America, and other markets. Its operations include underwriting, claims services, and risk management for a broad range of industries and personal insurance needs.

Chubb’s current corporate history dates to 2016, when ACE Limited acquired The Chubb Corporation and adopted the Chubb name.