Chubb Limited $CB Stock Acquired by Versant Capital Management Inc

Key Points

• Versant Capital Management increased its Chubb stake by 216.6% in the third quarter, ending with 5,582 shares valued at approximately $1.82 million. Institutional investors collectively own 83.81% of Chubb.
• Analysts maintain a broadly neutral view, with a consensus “Hold” rating and an average price target of $360.77; individual targets range from $347 to $386.
• Chubb reported quarterly earnings of $7.26 per share, exceeding estimates of $6.77, while revenue rose 3.6% year over year. The company also announced a quarterly dividend of $1.02 per share, representing a 1.2% yield.

Versant Capital Management Inc boosted its holdings in Chubb Limited (NYSE:CB - Free Report) by 216.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,582 shares of the financial services provider's stock after acquiring an additional 3,819 shares during the quarter. Versant Capital Management Inc's holdings in Chubb were worth $1,816,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CB. IMG Wealth Management Inc. bought a new position in shares of Chubb in the second quarter worth approximately $25,000. Dunhill Financial LLC purchased a new position in Chubb in the 2nd quarter worth approximately $25,000. Parvin Asset Management LLC purchased a new stake in shares of Chubb during the 2nd quarter valued at $26,000. Highland Investment Advisors LLC bought a new stake in shares of Chubb during the 2nd quarter worth $26,000. Finally, Frazier Financial Advisors LLC grew its position in Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock worth $27,000 after acquiring an additional 38 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of Chubb from $340.00 to $374.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. The Goldman Sachs Group upped their price target on shares of Chubb from $362.00 to $386.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Weiss Ratings raised shares of Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, September 11th. Evercore reissued an "outperform" rating and issued a $374.00 price target on shares of Chubb in a report on Friday, July 10th. Finally, Mizuho decreased their price objective on shares of Chubb from $352.00 to $347.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $360.77.

Chubb Stock Performance

CB stock opened at $331.21 on Friday. 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 Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The company has a market cap of $127.78 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 1.55 and a beta of 0.36. The stock's fifty day moving average price is $343.03 and its 200-day moving average price is $335.13.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results 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 company had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the prior year, the company earned $6.14 earnings per share. Chubb's revenue was up 3.6% on a year-over-year basis. On average, equities analysts forecast that Chubb Limited will post 27.35 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb's payout ratio is currently 14.43%.

Insider Transactions at Chubb

In other news, EVP Joseph Wayland sold 8,502 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael P. Connors sold 5,500 shares of the company's stock in a transaction that occurred 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 directly owned 12,803 shares of the company's stock, valued at $4,417,035. The trade was a 30.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company's stock.

About Chubb

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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