Chubb Limited $CB Stock Bought by CX Institutional

Key Points

• CX Institutional increased its Chubb stake by 12.8% in the third quarter, adding 4,359 shares for a total position worth approximately $11.7 million. Institutional investors collectively own 83.81% of Chubb’s outstanding stock.
• Analysts maintain a consensus “Hold” rating on Chubb, with an average price target of $360.77. Recent firms raised their targets, while ratings include two Strong Buys, seven Buys, twelve Holds, and one Sell.
• Chubb’s shares recently traded near $331, down 0.1%, while its latest quarterly earnings of $7.26 per share exceeded estimates. The company also declared a quarterly dividend of $1.02, equivalent to an annualized yield of about 1.2%.

CX Institutional raised its position in Chubb Limited (NYSE:CB - Free Report) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,459 shares of the financial services provider's stock after acquiring an additional 4,359 shares during the quarter. CX Institutional's holdings in Chubb were worth $11,743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CB. Berkshire Hathaway Inc purchased a new stake in Chubb during the 2nd quarter worth approximately $11,670,067,000. BlackRock Inc. acquired a new position in shares of Chubb in the second quarter worth $9,913,336,000. GQG Partners LLC purchased a new stake in shares of Chubb during the second quarter worth $4,250,113,000. Bank of America Corp DE increased its position in shares of 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 acquiring an additional 147,876 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Chubb by 74.3% in the first quarter. Bank of New York Mellon Corp now owns 3,420,692 shares of the financial services provider's stock valued at $1,114,906,000 after acquiring an additional 1,457,992 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CB. Weiss Ratings raised Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, September 11th. Piper Sandler lifted their price objective on Chubb from $340.00 to $374.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Cantor Fitzgerald boosted their price objective on Chubb from $318.00 to $337.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Evercore restated an "outperform" rating and set a $374.00 target price on shares of Chubb in a research note on Friday, July 10th. Finally, Atlantic Securities set a $301.00 price target on shares of Chubb in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $360.77.

Insider Buying and Selling 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 stock was 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 directly owned 33,749 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Michael P. Connors sold 5,500 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total value 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 approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company's stock.

Chubb Stock Down 0.1%

CB traded down $0.29 on Friday, reaching $331.01. The company's stock had a trading volume of 1,970,575 shares, compared to its average volume of 1,726,119. The stock has a 50 day moving average of $343.03 and a two-hundred day moving average of $335.13. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $127.70 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.55 and a beta of 0.36. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts' consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion for 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 firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $6.14 earnings per share. As a group, analysts forecast that Chubb Limited will post 27.35 EPS for the current fiscal year.

Chubb Announces Dividend

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

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.