Chubb Limited $CB Shares Bought by Sterling Capital Management LLC

Key Points

• Sterling Capital Management LLC increased its stake in Chubb by 55.8% in the first quarter, ending with 28,812 shares valued at about $9.39 million.
• Chubb shares were up 3.1% and traded around $341.19, near their 52-week high of $345.67, with the stock carrying a market cap of about $132.33 billion.
• The company recently raised its quarterly dividend to $1.02 per share from $0.97, while analysts currently rate the stock Hold on average with a consensus price target of $349.10.

Sterling Capital Management LLC lifted its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 55.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,812 shares of the financial services provider's stock after acquiring an additional 10,315 shares during the period. Sterling Capital Management LLC's holdings in Chubb were worth $9,391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc lifted its holdings in Chubb by 9.3% in the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider's stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares in the last quarter. State Street Corp grew its holdings in shares of Chubb by 0.4% during the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider's stock worth $4,827,852,000 after buying an additional 68,553 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Chubb by 25.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider's stock valued at $4,665,508,000 after buying an additional 3,049,987 shares during the last quarter. GQG Partners LLC lifted its stake in shares of Chubb by 15.2% during the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider's stock valued at $3,895,627,000 after buying an additional 1,647,729 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Chubb by 9.2% during the third quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider's stock valued at $1,426,475,000 after buying an additional 427,512 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Stock Up 3.1%

Shares of CB opened at $341.19 on Friday. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $345.67. The company's fifty day moving average is $325.13 and its two-hundred day moving average is $321.31. The firm has a market cap of $132.33 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 1.69 and a beta of 0.41. 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 data 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 business had revenue of $14.93 billion during the quarter. Analysts forecast that Chubb Limited will post 26.8 earnings per share for the current year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be issued a $1.02 dividend. This is a positive change from Chubb's previous quarterly dividend of $0.97. The ex-dividend date is Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb's dividend payout ratio (DPR) is 14.41%.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares of the company's stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings cut shares of Chubb from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, June 12th. Jefferies Financial Group decreased their price objective on Chubb from $356.00 to $352.00 and set a "hold" rating on the stock in a report on Thursday, April 23rd. Wolfe Research lifted their price objective on Chubb from $372.00 to $373.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. Piper Sandler upped their target price on Chubb from $328.00 to $340.00 and gave the company a "neutral" rating in a research note on Tuesday, May 26th. Finally, BMO Capital Markets raised their price target on Chubb from $326.00 to $339.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chubb currently has a consensus rating of "Hold" and an average price target of $349.10.

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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