Corient Private Wealth LLC Grows Position in Chubb Limited $CB

Key Points

• Corient Private Wealth LLC increased its Chubb stake by 46.1% in the fourth quarter, adding 186,481 shares to bring its total to 590,999 shares worth about $184.5 million.
• Chubb also saw heavy institutional interest overall, with hedge funds and other investors owning 83.81% of the company; notable holders like Berkshire Hathaway and Norges Bank also raised or initiated large positions.
• The insurer recently raised its quarterly dividend to $1.02 per share from $0.97, while analysts currently rate the stock a consensus "Hold" with an average price target of $349.10.

Corient Private Wealth LLC boosted its position in Chubb Limited (NYSE:CB - Free Report) by 46.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 590,999 shares of the financial services provider's stock after acquiring an additional 186,481 shares during the quarter. Corient Private Wealth LLC owned 0.15% of Chubb worth $184,492,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CB. Berkshire Hathaway Inc lifted its position in shares of Chubb by 15.9% during the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock worth $8,843,710,000 after purchasing an additional 4,299,111 shares during the last quarter. Norges Bank purchased a new position in Chubb in the fourth quarter valued at $1,081,190,000. Price T Rowe Associates Inc. MD increased its holdings in Chubb by 25.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider's stock valued at $4,665,508,000 after buying an additional 3,049,987 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Chubb in the fourth quarter valued at $795,378,000. Finally, GQG Partners LLC raised its stake in Chubb by 15.2% in the fourth quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider's stock valued at $3,895,627,000 after buying an additional 1,647,729 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Activity

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares of the company's stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.37% of the company's stock.

Chubb Stock Performance

Shares of CB stock opened at $323.88 on Friday. The stock's 50-day moving average is $324.70 and its two-hundred day moving average is $319.96. The firm has a market cap of $125.62 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.65 and a beta of 0.41. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The business had revenue of $14.93 billion during the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. Analysts predict that Chubb Limited will post 26.8 earnings per share for the current year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, June 12th. This is an increase from Chubb's previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a dividend yield of 1.3%. Chubb's dividend payout ratio is currently 14.41%.

Analyst Ratings Changes

A number of analysts have issued reports on CB shares. Evercore lifted their price target on Chubb from $347.00 to $349.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Mizuho dropped their price objective on Chubb from $336.00 to $335.00 and set a "neutral" rating on the stock in a report on Tuesday, April 14th. Cantor Fitzgerald reissued a "neutral" rating and set a $315.00 target price on shares of Chubb in a research report on Wednesday, April 22nd. Piper Sandler boosted their target price on Chubb from $328.00 to $340.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 26th. Finally, Wolfe Research upped their price target on Chubb from $372.00 to $373.00 and gave the company an "outperform" rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $349.10.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.

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