Chubb Limited $CB Holdings Increased by International Assets Investment Management LLC

Key Points

• Institutional ownership increased: International Assets Investment Management LLC raised its Chubb stake by 1,343.8% in the third quarter to 49,810 shares valued at $16.2 million. Institutional investors collectively own 83.81% of the company.
• Analyst sentiment remains cautious: Several firms raised their price targets, but Chubb maintains a consensus “Hold” rating with an average target of $362.78.
• Strong quarterly results and dividend: Chubb reported quarterly EPS of $7.66, beating estimates by $0.89, while revenue also exceeded forecasts. The company pays a quarterly dividend of $1.02 per share, equivalent to a 1.1% annual yield.

International Assets Investment Management LLC lifted its holdings in Chubb Limited (NYSE:CB - Free Report) by 1,343.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,810 shares of the financial services provider's stock after acquiring an additional 46,360 shares during the period. International Assets Investment Management LLC's holdings in Chubb were worth $16,201,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prosperitas Financial LLC purchased a new position in shares of Chubb during the 3rd quarter worth about $2,386,000. Canopy Partners LLC raised its position in Chubb by 4.2% in the 3rd quarter. Canopy Partners LLC now owns 3,126 shares of the financial services provider's stock worth $1,017,000 after purchasing an additional 126 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Chubb by 45.0% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 61,969 shares of the financial services provider's stock worth $20,155,000 after purchasing an additional 19,240 shares during the period. Parcion Private Wealth LLC lifted its stake in Chubb by 11.5% in the third quarter. Parcion Private Wealth LLC now owns 4,984 shares of the financial services provider's stock worth $1,621,000 after purchasing an additional 516 shares during the last quarter. Finally, Partners Wealth Management LLC bought a new stake in Chubb in the third quarter worth about $424,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Activity

In related news, Director Michael Connors sold 5,500 shares of Chubb stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares in the company, valued at $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Timothy Boroughs sold 13,596 shares of the company's stock in a transaction dated Monday, October 26th. The stock was 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 directly owned 5,588 shares of the company's stock, valued at approximately $1,993,630.76. This trade represents a 70.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.37% of the company's stock.

Wall Street Analyst Weigh In

CB has been the subject of several recent analyst reports. Mizuho boosted their target price on Chubb from $336.00 to $350.00 and gave the company a "neutral" rating in a research report on Thursday, October 22nd. Morgan Stanley increased their price target on Chubb from $350.00 to $360.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 27th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $354.00 price target on shares of Chubb in a report on Wednesday, July 22nd. Wells Fargo & Company raised their price target on Chubb from $343.00 to $366.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 22nd. Finally, TD Cowen boosted their price objective on Chubb from $360.00 to $379.00 and gave the company a "hold" rating in a report on Wednesday. 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 given a Sell rating to the company. According to MarketBeat, Chubb currently has an average rating of "Hold" and a consensus price target of $362.78.

Chubb Stock Performance

Shares of NYSE:CB opened at $364.12 on Friday. The firm's 50 day simple moving average is $343.33 and its 200-day simple moving average is $333.76. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.29 and a current ratio of 0.28. Chubb Limited has a one year low of $273.35 and a one year high of $369.00. The firm has a market cap of $139.12 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.69 and a beta of 0.36.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the business earned $7.49 earnings per share. As a group, equities analysts predict that Chubb Limited will post 28.82 EPS for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were paid a dividend of $1.02 per share. 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 currently 14.28%.

Chubb Company Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers' compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.

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