Chubb Limited $CB Stock Sold by Park Avenue Securities LLC

Key Points

• Park Avenue Securities cut its Chubb position by 10% in the third quarter, selling 2,943 shares and retaining 26,561 shares valued at approximately $8.64 million.
• Institutional ownership remains high at 83.81%, with Berkshire Hathaway and Douglas Lane & Associates among investors that recently established or significantly increased positions.
• Chubb exceeded quarterly expectations, reporting $7.66 in EPS versus a $6.77 consensus estimate and $16.20 billion in revenue. Analysts’ average rating is “Hold,” with an average price target of $362.78, while the company pays a $1.02 quarterly dividend.

Park Avenue Securities LLC lessened its position in Chubb Limited (NYSE:CB - Free Report) by 10.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,561 shares of the financial services provider's stock after selling 2,943 shares during the period. Park Avenue Securities LLC's holdings in Chubb were worth $8,639,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Equitable Holdings Inc. bought a new stake in Chubb in the second quarter valued at approximately $4,139,000. Berkshire Hathaway Inc acquired a new stake in Chubb during the 2nd quarter valued at approximately $11,670,067,000. XXEC Inc. acquired a new stake in Chubb during the 2nd quarter valued at approximately $26,210,000. Douglas Lane & Associates LLC raised its holdings in Chubb by 2,748.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 467,591 shares of the financial services provider's stock worth $152,084,000 after purchasing an additional 451,173 shares during the last quarter. Finally, Glenview Trust Co bought a new position in Chubb during the 2nd quarter worth approximately $11,147,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Price Performance

Chubb stock opened at $355.74 on Thursday. The stock has a market capitalization of $137.24 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.55 and a beta of 0.36. Chubb Limited has a 52-week low of $273.35 and a 52-week high of $365.91. The stock's 50 day moving average price is $342.49 and its two-hundred day moving average price is $333.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.35.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, topping the consensus estimate of $6.77 by $0.89. The company had revenue of $16.20 billion during the quarter, compared to the consensus estimate of $15.66 billion. Chubb had a net margin of 18.15% and a return on equity of 14.41%. During the same quarter last year, the firm posted $7.49 EPS. On average, equities analysts predict that Chubb Limited will post 28.49 earnings per share for the current year.

Chubb Announces Dividend

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

Key Headlines Impacting Chubb

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Higher analyst price targets: Autonomous Research raised its target to $373 from $369, while TD Cowen increased its target to $379 from $360. The revisions suggest analysts see additional upside based on Chubb’s earnings strength and outlook. Autonomous Research Adjusts Price Target on Chubb TD Cowen Adjusts Price Target on Chubb
• Positive Sentiment: Buy rating from Roth MKM: Roth MKM initiated or reiterated a “Buy” view on Chubb, adding to the constructive analyst sentiment surrounding the insurer. Chubb Gets a Buy from Roth MKM
• Neutral Sentiment: Valuation remains under review: A comparison of Chubb with Tokio Marine is examining which property-and-casualty insurer offers better value. This may keep investor attention on valuation, growth, and profitability metrics rather than create a direct catalyst. CB or TKOMY: Which Is the Better Value Stock Right Now?
• Negative Sentiment: Executive stock sale: EVP Timothy Boroughs sold 13,596 shares worth approximately $4.85 million, reducing his direct position by about 71%. While insider sales do not necessarily indicate deteriorating fundamentals, the transaction can weigh on sentiment. SEC insider transaction filing
• Negative Sentiment: ETF selling: ETFs were reported as net sellers of Chubb shares on October 23, indicating some passive or institutional selling pressure. ETFs Are Net Sellers of Chubb

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CB. Wells Fargo & Company upped their price objective on shares of Chubb from $343.00 to $366.00 and gave the company an "equal weight" rating in a research note on Thursday, October 22nd. Keefe, Bruyette & Woods lowered their target price on shares of Chubb from $389.00 to $387.00 and set an "outperform" rating for the company in a research note on Monday, October 12th. Piper Sandler boosted their target price on shares of Chubb from $340.00 to $374.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Citigroup restated a "buy" rating and issued a $405.00 target price (up from $395.00) on shares of Chubb in a report on Wednesday, October 21st. Finally, Citizens Jmp reaffirmed a "market outperform" rating and set a $400.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $362.78.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Timothy Boroughs sold 13,596 shares of the firm's stock in a transaction on Monday, October 26th. The shares were sold at an average price of $356.77, for a total value of $4,850,644.92. Following the completion of the sale, the executive vice president directly owned 5,588 shares in the company, valued at approximately $1,993,630.76. This trade represents a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael 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 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 approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by corporate insiders.

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers' compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.

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