Chubb Limited $CB Shares Bought by LGT Group Foundation

Key Points

• LGT Group Foundation raised its stake in Chubb by 4.2% in Q3, buying 8,123 shares to hold 200,889 shares valued at $56.53 million, while institutional investors collectively own 83.81% of the stock.
• Significant insider sales occurred recently: CEO Evan G. Greenberg sold 15,060 shares (~$4.99M) and EVP Timothy Boroughs sold 27,817 shares (~$9.23M), leaving corporate insiders with 0.86% ownership.
• Chubb beat EPS estimates, reporting $7.52 per share versus $6.33 expected with revenue up 8.9% year-over-year, and announced a $0.97 quarterly dividend (annualized $3.88; yield 1.2%).

LGT Group Foundation raised its holdings in Chubb Limited (NYSE:CB - Free Report) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,889 shares of the financial services provider's stock after purchasing an additional 8,123 shares during the period. LGT Group Foundation owned 0.05% of Chubb worth $56,532,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Mitchell & Pahl Private Wealth LLC increased its position in Chubb by 0.5% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 7,381 shares of the financial services provider's stock worth $2,083,000 after buying an additional 35 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of Chubb by 7.4% in the third quarter. Golden State Wealth Management LLC now owns 525 shares of the financial services provider's stock valued at $148,000 after purchasing an additional 36 shares during the period. Covestor Ltd increased its stake in Chubb by 26.1% in the third quarter. Covestor Ltd now owns 179 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 37 shares during the last quarter. CENTRAL TRUST Co lifted its position in Chubb by 1.0% during the third quarter. CENTRAL TRUST Co now owns 3,573 shares of the financial services provider's stock worth $1,008,000 after buying an additional 37 shares during the period. Finally, JT Stratford LLC boosted its stake in Chubb by 3.5% in the 2nd quarter. JT Stratford LLC now owns 1,127 shares of the financial services provider's stock worth $327,000 after buying an additional 38 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chubb

In related news, CEO Evan G. Greenberg sold 15,060 shares of the firm's stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the sale, the chief executive officer directly owned 511,576 shares of the company's stock, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the business's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares in the company, valued at $3,920,683.80. This represents a 70.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.86% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CB shares. Cantor Fitzgerald raised their target price on shares of Chubb from $300.00 to $309.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 14th. Piper Sandler lifted their price target on shares of Chubb from $283.00 to $319.00 and gave the company a "neutral" rating in a report on Wednesday, February 4th. Raymond James Financial upped their price objective on Chubb from $340.00 to $380.00 and gave the stock a "strong-buy" rating in a report on Monday, February 9th. Citigroup increased their target price on Chubb from $335.00 to $385.00 and gave the stock a "buy" rating in a research report on Monday, February 9th. Finally, Wells Fargo & Company boosted their price target on Chubb from $305.00 to $322.00 and gave the company an "equal weight" rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Chubb presently has a consensus rating of "Hold" and a consensus target price of $340.81.

Chubb Trading Down 1.4%

NYSE:CB opened at $327.86 on Monday. The business's 50-day moving average is $318.20 and its two-hundred day moving average is $297.97. The firm has a market capitalization of $127.92 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 2.06 and a beta of 0.46. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.33 by $1.19. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The company's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $6.02 earnings per share. Research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Friday, March 13th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, March 13th. Chubb's payout ratio is presently 15.08%.

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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