Chubb Limited $CB Stock Position Lifted by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its Chubb position by 85.7% in the third quarter, purchasing 46,025 additional shares for a total of 99,758 shares valued at approximately $32.4 million.
• Institutional ownership remains high at 83.81%, with major investors including Berkshire Hathaway, BlackRock, GQG Partners, and Bank of America holding significant stakes.
• Chubb reported quarterly EPS of $7.26, exceeding analyst expectations of $6.77, and pays a quarterly dividend of $1.02, equivalent to a 1.2% annual yield. Analysts maintain an overall “Hold” rating with an average price target of $358.36.

NorthCrest Asset Manangement LLC increased its position in Chubb Limited (NYSE:CB - Free Report) by 85.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,758 shares of the financial services provider's stock after buying an additional 46,025 shares during the quarter. Chubb accounts for approximately 0.8% of NorthCrest Asset Manangement LLC's holdings, making the stock its 24th biggest holding. NorthCrest Asset Manangement LLC's holdings in Chubb were worth $32,446,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CB. XXEC Inc. purchased a new position in shares of Chubb in the second quarter valued at about $228,226,000. Berkshire Hathaway Inc boosted its holdings in shares of Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider's stock worth $10,689,855,000 after purchasing an additional 2,916,288 shares during the period. BlackRock Inc. purchased a new stake in shares of Chubb during the second quarter worth about $9,913,336,000. GQG Partners LLC bought a new stake in shares of Chubb in the second quarter worth about $4,250,113,000. Finally, Bank of America Corp DE grew its stake in shares of Chubb by 3.1% in 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 purchasing an additional 147,876 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Performance

Shares of CB opened at $345.12 on Tuesday. The company has a 50-day simple moving average of $340.36 and a two-hundred day simple moving average of $335.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $133.15 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.50 and a beta of 0.36. Chubb Limited has a one year low of $265.30 and a one year high of $365.91.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%. The business's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.14 EPS. On average, analysts anticipate that Chubb Limited will post 27.68 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were issued a $1.02 dividend. The ex-dividend date was Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb's dividend payout ratio is 14.43%.

Insiders Place Their Bets

In other Chubb news, Director Michael Connors sold 5,500 shares of the firm'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 transaction, the director 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on CB. Cantor Fitzgerald upped their price target on Chubb from $330.00 to $333.00 and gave the company a "neutral" rating in a research report on Wednesday, October 7th. HSBC reiterated a "hold" rating and issued a $359.00 price objective on shares of Chubb in a research report on Wednesday, October 7th. Evercore reissued an "outperform" rating and set a $374.00 target price on shares of Chubb in a research note on Friday, July 10th. Morgan Stanley decreased their target price on Chubb from $360.00 to $350.00 and set an "equal weight" rating for the company in a report on Tuesday, October 6th. Finally, Piper Sandler raised their price target on Chubb from $340.00 to $374.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $358.36.

Chubb 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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