Lord Abbett & CO. LLC Has $123.09 Million Stock Position in Chubb Limited $CB

Key Points

• Lord Abbett & CO. LLC increased its Chubb stake by 10% in the fourth quarter, adding 35,745 shares to bring its holdings to 394,370 shares worth about $123.1 million.
• Chubb raised its quarterly dividend to $1.02 per share from $0.97, putting the annualized payout at $4.08 and the dividend yield at about 1.2%.
• Analyst sentiment remains mixed but constructive, with Chubb carrying a Moderate Buy consensus rating and an average price target of $349.10; the stock recently traded around $328.06.

Lord Abbett & CO. LLC boosted its position in shares of Chubb Limited (NYSE:CB - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 394,370 shares of the financial services provider's stock after purchasing an additional 35,745 shares during the period. Lord Abbett & CO. LLC owned 0.10% of Chubb worth $123,091,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its stake in Chubb by 38.3% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 31 shares during the period. Phillips Wealth Planners LLC increased its stake in Chubb by 1.8% during the fourth quarter. Phillips Wealth Planners LLC now owns 1,737 shares of the financial services provider's stock valued at $521,000 after acquiring an additional 31 shares during the period. Hoxton Planning & Management LLC increased its stake in Chubb by 4.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 746 shares of the financial services provider's stock valued at $233,000 after acquiring an additional 31 shares during the period. Kathmere Capital Management LLC increased its stake in Chubb by 2.7% during the fourth quarter. Kathmere Capital Management LLC now owns 1,297 shares of the financial services provider's stock valued at $405,000 after acquiring an additional 34 shares during the period. Finally, Wright Investors Service Inc. increased its stake in Chubb by 0.7% during the fourth quarter. Wright Investors Service Inc. now owns 4,927 shares of the financial services provider's stock valued at $1,538,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

CB has been the topic of several research reports. Cantor Fitzgerald restated a "neutral" rating and set a $315.00 price target on shares of Chubb in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. boosted their price target on Chubb from $330.00 to $340.00 and gave the company a "neutral" rating in a research note on Monday, April 20th. The Goldman Sachs Group lowered their price target on Chubb from $372.00 to $362.00 and set a "buy" rating on the stock in a research note on Monday, June 8th. Wolfe Research lifted their price objective on Chubb from $372.00 to $373.00 and gave the company an "outperform" rating in a report on Monday, April 6th. Finally, Piper Sandler lifted their price objective on Chubb from $328.00 to $340.00 and gave the company a "neutral" rating in a report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Chubb currently has a consensus rating of "Moderate Buy" and an average target price of $349.10.

Chubb Stock Up 0.0%

NYSE CB opened at $328.06 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The stock's 50 day moving average is $324.93 and its two-hundred day moving average is $318.94. The company has a market capitalization of $127.24 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.67 and a beta of 0.41. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $345.67.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The company had revenue of $14.93 billion for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. Equities analysts forecast that Chubb Limited will post 26.8 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently announced 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. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, June 12th. This is an increase from Chubb's previous quarterly dividend of $0.97. Chubb's dividend payout ratio (DPR) is presently 13.70%.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Olivier Steimer sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the transaction, the director directly owned 25,468 shares in the company, valued at $8,386,612.40. The trade was a 7.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.

Chubb Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.