Chubb Limited $CB Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its Chubb stake by 27.7% in the first quarter, buying an additional 31,855 shares and bringing its total holding to 146,995 shares worth about $48.1 million.
• Chubb’s stock received mixed analyst updates: several firms raised price targets, but HSBC downgraded the shares to hold. The consensus rating remains Hold, with a consensus target price of $357.73.
• The company reported solid fundamentals, including $6.82 EPS in its latest quarter, and recently raised its quarterly dividend to $1.02 per share from $0.97, equal to an annualized yield of about 1.2%.

Allspring Global Investments Holdings LLC lifted its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,995 shares of the financial services provider's stock after acquiring an additional 31,855 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Chubb were worth $48,091,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CB. Cherry Tree Wealth Management LLC lifted its stake in Chubb by 38.3% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider's stock worth $35,000 after acquiring an additional 31 shares in the last quarter. Phillips Wealth Planners LLC boosted its holdings in shares of Chubb by 1.8% during the fourth quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider's stock worth $521,000 after purchasing an additional 31 shares during the period. Hoxton Planning & Management LLC boosted its holdings in shares of Chubb by 4.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider's stock worth $233,000 after purchasing an additional 31 shares during the period. Kathmere Capital Management LLC grew its position in Chubb by 2.7% during the fourth quarter. Kathmere Capital Management LLC now owns 1,297 shares of the financial services provider's stock valued at $405,000 after purchasing an additional 34 shares in the last quarter. Finally, Wright Investors Service Inc. grew its position in Chubb by 0.7% during the fourth quarter. Wright Investors Service Inc. now owns 4,927 shares of the financial services provider's stock valued at $1,538,000 after purchasing an additional 34 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction 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 trade represents a 10.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CB shares. HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and upped their price target for the stock from $370.00 to $373.00 in a research note on Monday, July 6th. Keefe, Bruyette & Woods boosted their target price on Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a research note on Wednesday, July 8th. Cantor Fitzgerald upped their target price on Chubb from $318.00 to $337.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Citizens Jmp raised their price target on Chubb from $365.00 to $400.00 and gave the stock a "market outperform" rating in a research note on Friday, July 10th. Finally, Piper Sandler raised their price target on Chubb from $340.00 to $374.00 and gave the stock a "neutral" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chubb has a consensus rating of "Hold" and a consensus target price of $357.73.

Chubb Stock Up 2.4%

CB opened at $352.07 on Friday. The firm has a market cap of $136.55 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.82 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. The business has a 50 day moving average price of $332.32 and a 200 day moving average price of $325.68. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $365.29.

Chubb (NYSE:CB - Get Free Report) last released 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 firm had revenue of $14.93 billion during the quarter. Research analysts forecast that Chubb Limited will post 26.75 EPS for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were paid a $1.02 dividend. The ex-dividend date was Friday, June 12th. This is a boost from Chubb's previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. Chubb's dividend payout ratio is 14.41%.

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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