Chubb Limited $CB Shares Purchased by Allstate Corp

Key Points

• Allstate Corp increased its stake in Chubb Limited by 114% in the fourth quarter, ending with 29,538 shares valued at about $9.2 million.
• Chubb continues to draw heavy institutional interest, with investors like Berkshire Hathaway, AQR Capital, and Amundi also boosting positions; overall, 83.81% of the stock is owned by institutions and hedge funds.
• The insurer reported strong recent fundamentals, including $6.82 EPS and $14.93 billion in quarterly revenue, while also paying a $0.97 quarterly dividend for a 1.2% yield.

Allstate Corp boosted its holdings in Chubb Limited (NYSE:CB - Free Report) by 114.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,538 shares of the financial services provider's stock after acquiring an additional 15,735 shares during the period. Allstate Corp's holdings in Chubb were worth $9,219,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Berkshire Hathaway Inc raised its position in Chubb by 15.9% in the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock valued at $8,843,710,000 after purchasing an additional 4,299,111 shares during the period. AQR Capital Management LLC raised its position in Chubb by 75.1% in the third quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider's stock valued at $785,468,000 after purchasing an additional 1,199,963 shares during the period. Woodline Partners LP purchased a new stake in Chubb in the third quarter valued at approximately $220,217,000. Amundi raised its position in Chubb by 55.4% in the third quarter. Amundi now owns 1,946,622 shares of the financial services provider's stock valued at $557,493,000 after purchasing an additional 693,740 shares during the period. Finally, Bank of America Corp DE raised its position in Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider's stock valued at $1,428,278,000 after purchasing an additional 513,852 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

NYSE:CB opened at $328.03 on Tuesday. The firm has a market capitalization of $127.23 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.68 and a beta of 0.43. The business's fifty day moving average price is $326.46 and its 200 day moving average price is $316.38. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. The firm had revenue of $14.93 billion for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. On average, sell-side analysts anticipate that Chubb Limited will post 26.78 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Friday, March 13th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, March 13th. Chubb's dividend payout ratio is 13.70%.

Insider Buying and Selling

In related news, Director Olivier Steimer sold 2,000 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total value of $658,600.00. Following the transaction, the director owned 25,468 shares of the company's stock, valued at $8,386,612.40. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CB. Jefferies Financial Group cut their target price on Chubb from $356.00 to $352.00 and set a "hold" rating on the stock in a research report on Thursday, April 23rd. Evercore boosted their target price on Chubb from $347.00 to $349.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. UBS Group reissued a "neutral" rating and issued a $340.00 target price on shares of Chubb in a research report on Monday, February 9th. Mizuho cut their target price on Chubb from $336.00 to $335.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. Finally, Piper Sandler boosted their target price on Chubb from $319.00 to $328.00 and gave the company a "neutral" rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $349.33.

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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