Chubb Limited $CB Shares Sold by Cyndeo Wealth Partners LLC

Key Points

• Cyndeo Wealth Partners reduced its Chubb stake by 12.9% in the third quarter, selling 4,757 shares and retaining 32,165 shares valued at approximately $10.46 million. Institutional investors and hedge funds collectively own 83.81% of Chubb.
• Analysts maintain a consensus “Hold” rating with an average price target of $358.36, despite targets ranging from $336 to $400. Two Chubb insiders also recently sold shares, reducing their respective holdings.
• Chubb shares opened at $359.51, near their 52-week high, while the company reported quarterly EPS of $7.26, exceeding estimates of $6.77. Chubb also declared a quarterly dividend of $1.02 per share, equivalent to a 1.1% yield.

Cyndeo Wealth Partners LLC trimmed its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 12.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,165 shares of the financial services provider's stock after selling 4,757 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Chubb were worth $10,462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CB. XXEC Inc. acquired a new position in shares of Chubb in the 2nd quarter worth approximately $228,226,000. Berkshire Hathaway Inc acquired a new stake in Chubb during the second quarter valued at approximately $11,670,067,000. BlackRock Inc. acquired a new stake in Chubb during the second quarter valued at approximately $9,913,336,000. GQG Partners LLC bought a new stake in Chubb during the second quarter worth approximately $4,250,113,000. Finally, Bank of America Corp DE boosted its holdings in Chubb by 3.1% during the first quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider's stock worth $1,599,868,000 after buying an additional 147,876 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Evercore restated an "outperform" rating and issued a $374.00 price target on shares of Chubb in a research report on Friday, July 10th. Piper Sandler increased their price objective on Chubb from $340.00 to $374.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Mizuho reduced their price objective on Chubb from $347.00 to $336.00 and set a "neutral" rating for the company in a research note on Wednesday, October 7th. Citizens Jmp restated a "market outperform" rating and issued a $400.00 target price on shares of Chubb in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. decreased their target price on Chubb from $374.00 to $371.00 and set a "neutral" rating on the stock in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $358.36.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Connors sold 5,500 shares of the business's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the sale, the director owned 12,803 shares of the company's stock, valued at $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.37% of the company's stock.

Chubb Price Performance

Shares of NYSE:CB opened at $359.51 on Friday. Chubb Limited has a fifty-two week low of $266.40 and a fifty-two week high of $365.91. The business has a 50-day moving average of $340.44 and a two-hundred day moving average of $336.38. The stock has a market capitalization of $138.70 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.54 and a beta of 0.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating analysts' consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%. The business had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same period last year, the business earned $6.14 EPS. The firm's revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts predict that Chubb Limited will post 27.72 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, September 11th. Chubb's dividend payout ratio (DPR) is 14.43%.

Chubb Company Profile

Chubb Limited NYSE: CB is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.

The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers' compensation, homeowners insurance, automobile coverage, and specialty insurance.

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