Confluence Investment Management LLC lessened its holdings in Chubb Limited (NYSE:CB - Free Report) by 4.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 460,772 shares of the financial services provider's stock after selling 21,271 shares during the period. Chubb accounts for 2.5% of Confluence Investment Management LLC's holdings, making the stock its 3rd biggest position. Confluence Investment Management LLC owned about 0.12% of Chubb worth $157,003,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Chubb during the 4th quarter worth approximately $1,081,190,000. Price T Rowe Associates Inc. MD grew its holdings in Chubb by 25.6% in the 4th 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 in the last quarter. Berkshire Hathaway Inc increased its position in Chubb by 9.3% during the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider's stock worth $10,689,855,000 after buying an additional 2,916,288 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Chubb during the 4th quarter worth $795,378,000. Finally, GQG Partners LLC grew its stake in shares of Chubb by 15.2% in 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 acquiring an additional 1,647,729 shares in the last quarter. 83.81% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Chubb from $374.00 to $389.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. Mizuho increased their price objective on shares of Chubb from $335.00 to $352.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Bank of America reduced their price target on shares of Chubb from $286.00 to $271.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 14th. Citigroup reaffirmed a "market outperform" rating on shares of Chubb in a report on Wednesday, July 22nd. Finally, UBS Group upped their price objective on Chubb from $340.00 to $369.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $360.09.
Read Our Latest Research Report on CB
Chubb Stock Performance
NYSE:CB opened at $348.08 on Tuesday. The stock's 50-day moving average is $338.73 and its 200-day moving average is $329.23. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91. The stock has a market cap of $134.29 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 1.74 and a beta of 0.39.
Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to analysts' expectations of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company's revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $6.14 EPS. Equities research analysts anticipate that Chubb Limited will post 27.4 earnings per share for the current year.
Chubb Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. This is a boost from Chubb's previous quarterly dividend of $0.97. Chubb's payout ratio is currently 14.43%.
Insider Buying and Selling at Chubb
In related news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares of the company's stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John W. Keogh sold 23,000 shares of the 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 sale, the chief operating officer owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company's stock.
Chubb Profile
(
Free Report)
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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