2,793 Chubb Limited $CB Shares Sold by Welch & Forbes LLC

Key Points

• Welch & Forbes trimmed its Chubb stake by 2,793 shares (0.7%) in the third quarter, but retained 382,010 shares valued at about $124.2 million.
• Chubb reported quarterly EPS of $7.66, beating the $6.77 consensus, and revenue of $16.20 billion versus expectations of $15.66 billion.
• Institutional investors own 83.81% of Chubb. Analysts’ consensus rating is “Hold,” with an average price target of $362.78.

Welch & Forbes LLC reduced its holdings in Chubb Limited (NYSE:CB - Free Report) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 382,010 shares of the financial services provider's stock after selling 2,793 shares during the quarter. Chubb comprises 1.5% of Welch & Forbes LLC's investment portfolio, making the stock its 19th largest position. Welch & Forbes LLC owned approximately 0.10% of Chubb worth $124,249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. XXEC Inc. purchased a new position in shares of Chubb in the 2nd quarter valued at approximately $228,226,000. Berkshire Hathaway Inc purchased a new stake in Chubb in the second quarter worth $11,670,067,000. BlackRock Inc. purchased a new stake in Chubb in the second quarter worth $9,913,336,000. GQG Partners LLC purchased a new stake in Chubb in the second quarter worth $4,250,113,000. Finally, Bank of America Corp DE raised its holdings in 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 purchasing an additional 147,876 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Down 0.4%

NYSE:CB opened at $363.38 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $138.84 billion, a P/E ratio of 12.71, a P/E/G ratio of 1.73 and a beta of 0.29. Chubb Limited has a fifty-two week low of $284.63 and a fifty-two week high of $384.26. The firm has a 50-day simple moving average of $346.50 and a two-hundred day simple moving average of $335.79.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.89. The firm had revenue of $16.20 billion for the quarter, compared to the consensus estimate of $15.66 billion. Chubb had a net margin of 18.15% and a return on equity of 14.41%. During the same quarter in the prior year, the firm posted $7.49 earnings per share. Analysts predict that Chubb Limited will post 28.89 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were given a $1.02 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.1%. Chubb's dividend payout ratio is 14.28%.

Insider Buying and Selling at Chubb

In other news, EVP Timothy Boroughs sold 13,596 shares of the business's stock in a transaction on Monday, October 26th. The stock was 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 in the company, valued at $1,993,630.76. The trade was a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael P. Connors sold 5,500 shares of the company's stock in a transaction on 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 transaction, the director directly owned 12,803 shares in the company, valued at approximately $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 32,985 shares of company stock worth $11,748,463. Insiders own 0.37% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Weiss Ratings upgraded shares of Chubb from a "buy (b)" rating to a "buy (a)" rating in a report on Friday, October 16th. Morgan Stanley increased their price target on shares of Chubb from $350.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 27th. Atlantic Securities set a $301.00 price target on shares of Chubb in a research report on Wednesday, July 15th. Piper Sandler boosted their price objective 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. Finally, Citigroup reissued a "buy" rating and issued a $405.00 price target (up from $395.00) on shares of Chubb in a research report on Wednesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $362.78.

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.

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