Chubb Limited $CB Stock Holdings Lessened by Alps Advisors Inc.

Key Points

• Alps Advisors cut its Chubb stake by 37.3% in the third quarter, selling 8,249 shares and retaining 13,859 shares valued at about $4.51 million. Institutional investors collectively own 83.81% of the stock.
• Analysts’ consensus rating is Hold, with an average price target of $362.78; ratings include seven Buys, 13 Holds, two Strong Buys, and one Sell.
• Chubb beat quarterly estimates, reporting EPS of $7.66 versus $6.77 expected and revenue of $16.20 billion versus $15.66 billion forecast.

Alps Advisors Inc. cut its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 37.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,859 shares of the financial services provider's stock after selling 8,249 shares during the period. Alps Advisors Inc.'s holdings in Chubb were worth $4,508,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Ashton Thomas Private Wealth LLC grew its holdings in shares of Chubb by 15.5% during the third quarter. Ashton Thomas Private Wealth LLC now owns 3,061 shares of the financial services provider's stock valued at $996,000 after buying an additional 411 shares in the last quarter. Providence First Trust Co purchased a new stake in Chubb in the 3rd quarter worth about $345,000. Heritage Family Offices LLP purchased a new stake in Chubb in the 3rd quarter worth about $82,000. Allegiance Financial Group Advisory Services LLC boosted its position in Chubb by 17.7% during the 3rd quarter. Allegiance Financial Group Advisory Services LLC now owns 1,580 shares of the financial services provider's stock worth $515,000 after acquiring an additional 238 shares during the period. Finally, Calamos Wealth Management LLC boosted its position in Chubb by 22.6% during the 3rd quarter. Calamos Wealth Management LLC now owns 69,262 shares of the financial services provider's stock worth $22,528,000 after acquiring an additional 12,770 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CB has been the topic of several research analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $333.00 target price on shares of Chubb in a research note on Wednesday, October 21st. Morgan Stanley raised their price target on shares of Chubb from $350.00 to $360.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 27th. Citigroup restated a "buy" rating and set a $405.00 price target (up from $395.00) on shares of Chubb in a report on Wednesday, October 21st. Keefe, Bruyette & Woods lowered their price objective on shares of Chubb from $389.00 to $387.00 and set an "outperform" rating on the stock in a research report on Monday, October 12th. Finally, TD Cowen upped their price objective on shares of Chubb from $360.00 to $379.00 and gave the company a "hold" rating in a research note on Wednesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $362.78.

Insiders Place Their Bets

In other Chubb news, EVP Timothy Boroughs sold 13,596 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 5,588 shares in the company, valued at $1,993,630.76. This trade represents a 70.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael Connors sold 5,500 shares of the stock in a transaction that occurred 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 transaction, the director owned 12,803 shares in the company, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,985 shares of company stock valued at $11,748,463 over the last 90 days. 0.37% of the stock is currently owned by company insiders.

Chubb Price Performance

Shares of NYSE:CB opened at $365.07 on Monday. Chubb Limited has a fifty-two week low of $282.99 and a fifty-two week high of $384.26. The business has a 50-day moving average of $346.04 and a two-hundred day moving average of $335.48. The stock has a market capitalization of $139.49 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.69 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $7.66 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 business had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.66 billion. During the same quarter in the prior year, the firm posted $7.49 EPS. On average, equities research analysts predict that Chubb Limited will post 28.89 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. Chubb's dividend payout ratio is presently 14.28%.

Chubb Company Profile

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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