Chubb Limited $CB Stock: Retirement Systems of Alabama Cuts Holdings

Retirement Systems of Alabama lowered its stake in Chubb Limited (NYSE:CB) by 1.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 212,116 shares of the financial services provider’s stock after selling 2,153 shares during the period. Retirement Systems of Alabama’s holdings in Chubb were worth $68,991,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Chubb by 2.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 157,464 shares of the financial services provider’s stock valued at $52,168,000 after acquiring an additional 4,417 shares in the last quarter. Missouri Trust & Investment Co boosted its stake in shares of Chubb by 2.2% during the third quarter. Missouri Trust & Investment Co now owns 6,302 shares of the financial services provider’s stock valued at $2,050,000 after acquiring an additional 135 shares during the last quarter. Beverly Hills Private Wealth LLC increased its position in Chubb by 10.3% during the 3rd quarter. Beverly Hills Private Wealth LLC now owns 11,404 shares of the financial services provider’s stock worth $3,709,000 after purchasing an additional 1,061 shares in the last quarter. Hohimer Wealth Management LLC increased its position in Chubb by 4.9% during the 3rd quarter. Hohimer Wealth Management LLC now owns 2,916 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 136 shares in the last quarter. Finally, M Holdings Securities Inc. purchased a new stake in Chubb during the 3rd quarter worth about $898,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $371.00 to $374.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. Piper Sandler raised their price target 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. Morgan Stanley lifted their price target on shares of Chubb from $350.00 to $360.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 27th. Keefe, Bruyette & Woods lowered their price target on shares of Chubb from $389.00 to $387.00 and set an “outperform” rating for the company in a report on Monday, October 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $354.00 price objective on shares of Chubb in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $362.78.

Insider Buying and Selling at Chubb

In other news, Director Michael P. 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 transaction of $1,897,500.00. Following the transaction, the director directly owned 12,803 shares in the company, valued at $4,417,035. This represents a 30.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Timothy Boroughs sold 13,596 shares of the business’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 transaction of $4,850,644.92. Following the completion of the sale, the executive vice president owned 5,588 shares of the company’s stock, valued at approximately $1,993,630.76. The trade was a 70.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,985 shares of company stock worth $11,748,463 in the last 90 days. 0.37% of the stock is owned by company insiders.

Chubb Price Performance

CB stock opened at $363.38 on Tuesday. Chubb Limited has a 52-week low of $284.63 and a 52-week high of $384.26. The stock’s fifty day simple moving average is $346.50 and its 200-day simple moving average is $335.79. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $138.84 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.73 and a beta of 0.29.

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

Chubb Announces Dividend

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

Chubb Profile

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.