Chubb Limited $CB Stock: Calamos Advisors LLC Boosts Holdings

Key Points

• Calamos Advisors increased its Chubb stake by 32.5% in the third quarter, adding 51,810 shares to hold 211,460 shares valued at about $68.8 million.
• Chubb reported quarterly EPS of $7.66, beating the $6.77 consensus, while revenue of $16.2 billion also exceeded estimates.
• Company insiders sold 32,985 shares worth about $11.75 million over the past three months. Analysts’ overall rating was “Hold,” with an average price target of $362.78.

Calamos Advisors LLC increased its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 32.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,460 shares of the financial services provider's stock after buying an additional 51,810 shares during the quarter. Calamos Advisors LLC owned about 0.05% of Chubb worth $68,777,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CB. XXEC Inc. acquired a new stake in Chubb during the 2nd quarter worth about $228,226,000. Berkshire Hathaway Inc acquired a new position in shares of Chubb in the second quarter valued at about $11,670,067,000. BlackRock Inc. acquired a new position in shares of Chubb in the second quarter valued at about $9,913,336,000. GQG Partners LLC purchased a new position in shares of Chubb in the second quarter worth about $4,250,113,000. Finally, Bank of America Corp DE purchased a new position in shares of Chubb in the second quarter worth about $1,545,084,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chubb

In other Chubb news, Director Michael P. Connors sold 5,500 shares of Chubb stock in a transaction on 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 transaction, the director owned 12,803 shares of the company's stock, valued at approximately $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy Boroughs sold 13,596 shares of the company's stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $356.77, for a total transaction of $4,850,644.92. Following the completion of the transaction, the executive vice president owned 5,588 shares of the company's stock, valued at approximately $1,993,630.76. This trade represents a 70.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,985 shares of company stock worth $11,748,463 in the last three months. Company insiders own 0.37% of the company's stock.

Chubb Stock Performance

Chubb stock traded down $6.56 during midday trading on Friday, hitting $365.07. 1,627,138 shares of the company were exchanged, compared to its average volume of 1,516,640. The firm has a market capitalization of $139.49 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.71 and a beta of 0.29. Chubb Limited has a fifty-two week low of $282.99 and a fifty-two week high of $384.26. The business has a fifty day simple moving average of $346.04 and a two-hundred day simple moving average of $335.48. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.77 by $0.89. Chubb had a return on equity of 14.41% and a net margin of 18.15%. The company had revenue of $16.20 billion during the quarter, compared to the consensus estimate of $15.66 billion. During the same period in the previous year, the company posted $7.49 earnings per share. On average, sell-side analysts forecast that Chubb Limited will post 28.89 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, September 11th. Chubb's payout ratio is currently 14.28%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings raised Chubb from a "buy (b)" rating to a "buy (a)" rating in a report on Friday, October 16th. Evercore restated an "outperform" rating and set a $374.00 price objective on shares of Chubb in a research note on Friday, July 10th. Keefe, Bruyette & Woods dropped their price objective on shares of Chubb from $389.00 to $387.00 and set an "outperform" rating on the stock in a report on Monday, October 12th. HSBC reiterated a "hold" rating and issued a $359.00 price objective on shares of Chubb in a research note on Wednesday, October 7th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Chubb has an average rating of "Hold" and a consensus target price of $362.78.

About Chubb

Chubb Limited is a global insurance company that provides property and casualty insurance, accident and health coverage, life insurance, and reinsurance. Its customers include individuals, businesses, and institutions, with products ranging from personal and commercial coverage to specialized insurance solutions.

The company serves customers across North America, Europe, Asia-Pacific, Latin America, and other markets. Its operations include underwriting, claims services, and risk management for a broad range of industries and personal insurance needs.

Chubb's current corporate history dates to 2016, when ACE Limited acquired The Chubb Corporation and adopted the Chubb name.

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