Capital World Investors Sells 42,921 Shares of Chubb Limited $CB

Key Points

• Capital World Investors trimmed its Chubb stake by 0.4% in the fourth quarter, selling 42,921 shares and leaving it with 9,935,866 shares valued at about $3.1 billion.
• Several other institutional investors also adjusted their positions, and institutions now own 83.81% of Chubb’s stock, underscoring strong institutional interest in the insurer.
• Analysts remain mixed but mostly constructive: Chubb has a Moderate Buy consensus rating with an average price target of $349.90, while the stock recently traded up 3.9% to $326.82.

Capital World Investors decreased its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,935,866 shares of the financial services provider's stock after selling 42,921 shares during the quarter. Capital World Investors owned about 2.52% of Chubb worth $3,101,314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Chubb by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after purchasing an additional 221 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in Chubb during the fourth quarter valued at $205,000. Woodline Partners LP raised its stake in Chubb by 13.0% during the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider's stock valued at $3,805,000 after purchasing an additional 1,449 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Chubb by 14.4% during the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider's stock valued at $403,000 after purchasing an additional 175 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Chubb by 9.3% during the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider's stock valued at $58,305,000 after purchasing an additional 17,155 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Analysts Set New Price Targets

CB has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on shares of Chubb from $330.00 to $340.00 and gave the company a "neutral" rating in a research note on Monday, April 20th. Bank of America decreased their price target on shares of Chubb from $286.00 to $271.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 14th. Jefferies Financial Group decreased their price target on shares of Chubb from $356.00 to $352.00 and set a "hold" rating on the stock in a research note on Thursday, April 23rd. Piper Sandler upped their price target on shares of Chubb from $328.00 to $340.00 and gave the company a "neutral" rating in a research note on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Chubb from $373.00 to $374.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $349.90.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Olivier Steimer sold 2,000 shares of the 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 sale, the director directly owned 25,468 shares in the company, valued at approximately $8,386,612.40. This represents a 7.28% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company's stock.

Chubb Trading Up 3.9%

Shares of CB opened at $326.82 on Friday. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67. The company has a market cap of $126.76 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.67 and a beta of 0.41. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The company's fifty day simple moving average is $324.69 and its 200-day simple moving average is $317.87.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The business had revenue of $14.93 billion for the quarter. As a group, analysts expect that Chubb Limited will post 26.8 EPS for the current year.

Chubb Company Profile

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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