Allworth Financial LP Purchases 5,012 Shares of Chubb Limited $CB

Key Points

• Allworth Financial LP increased its Chubb stake by 7.1% in the fourth quarter, buying 5,012 additional shares and bringing its total holdings to 75,292 shares worth about $23.5 million.
• Wall Street remains broadly positive on Chubb, with an average “Moderate Buy” rating and a consensus price target of $349.33. Recent analyst moves included higher targets from Evercore, JPMorgan, Citigroup, and Keefe, Bruyette & Woods.
• Chubb posted solid financial results and continued returning cash to shareholders, reporting $6.82 EPS and $14.93 billion in quarterly revenue. The company also paid a quarterly dividend of $0.97 per share, or $3.88 annually.

Allworth Financial LP raised its position in shares of Chubb Limited (NYSE:CB - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,292 shares of the financial services provider's stock after purchasing an additional 5,012 shares during the period. Allworth Financial LP's holdings in Chubb were worth $23,500,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CB. Atria Investments Inc boosted its stake in shares of Chubb by 1.1% in the 4th quarter. Atria Investments Inc now owns 42,447 shares of the financial services provider's stock valued at $13,249,000 after purchasing an additional 445 shares in the last quarter. Navalign LLC acquired a new position in Chubb during the 4th quarter worth approximately $49,000. Catalyst Financial Partners LLC lifted its stake in Chubb by 16.1% in the 4th quarter. Catalyst Financial Partners LLC now owns 2,935 shares of the financial services provider's stock valued at $916,000 after purchasing an additional 408 shares during the last quarter. Ameritas Advisory Services LLC boosted its position in Chubb by 292.1% in the fourth quarter. Ameritas Advisory Services LLC now owns 2,992 shares of the financial services provider's stock valued at $934,000 after buying an additional 2,229 shares in the last quarter. Finally, Legacy Financial Advisors Inc. boosted its position in Chubb by 30.4% in the fourth quarter. Legacy Financial Advisors Inc. now owns 4,019 shares of the financial services provider's stock valued at $1,254,000 after buying an additional 937 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CB shares. Evercore upped their price target on shares of Chubb from $347.00 to $349.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. boosted their price objective on Chubb from $330.00 to $340.00 and gave the stock a "neutral" rating in a research report on Monday, April 20th. Citigroup upped their target price on Chubb from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Monday, February 9th. Jefferies Financial Group dropped their target price on Chubb from $356.00 to $352.00 and set a "hold" rating for the company in a research report on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods boosted their price target on Chubb from $373.00 to $374.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $349.33.

Insider Activity at Chubb

In related news, Director Olivier Steimer sold 2,000 shares of Chubb stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the transaction, the director owned 25,468 shares of the company's stock, valued at $8,386,612.40. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.37% of the company's stock.

Chubb Stock Down 1.9%

Shares of NYSE:CB opened at $315.93 on Thursday. The firm has a market cap of $122.54 billion, a P/E ratio of 11.16, a P/E/G ratio of 1.65 and a beta of 0.43. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67. The business has a fifty day simple moving average of $326.75 and a 200 day simple moving average of $313.67. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The firm had revenue of $14.93 billion for the quarter. Analysts predict that Chubb Limited will post 26.78 earnings per share for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Friday, March 13th were given a $0.97 dividend. The ex-dividend date was Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb's payout ratio is 13.70%.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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