MassMutual Private Wealth & Trust FSB Cuts Stock Position in Chubb Limited $CB

Key Points

• MassMutual Private Wealth & Trust FSB reduced its Chubb stake by 3.5% in the third quarter, selling 3,223 shares and retaining 89,384 shares valued at approximately $29.0 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb insiders also reported significant stock sales, including a director’s $1.9 million sale and an executive vice president’s $3.1 million sale. Insiders own 0.37% of the company.
• Analysts’ consensus rating remains “Hold”, with an average price target of $360.77. Chubb most recently exceeded quarterly EPS expectations, reporting $7.26 versus the $6.77 consensus estimate, and pays a $1.02 quarterly dividend.

MassMutual Private Wealth & Trust FSB decreased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 3.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 89,384 shares of the financial services provider's stock after selling 3,223 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Chubb were worth $29,020,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CX Institutional grew its position in shares of Chubb by 12.8% in the 3rd quarter. CX Institutional now owns 38,459 shares of the financial services provider's stock worth $11,743,000 after buying an additional 4,359 shares during the period. GoalVest Advisory LLC lifted its position in Chubb by 57.0% during the 3rd quarter. GoalVest Advisory LLC now owns 212 shares of the financial services provider's stock valued at $69,000 after acquiring an additional 77 shares during the period. Versant Capital Management Inc lifted its position in Chubb by 216.6% during the 3rd quarter. Versant Capital Management Inc now owns 5,582 shares of the financial services provider's stock valued at $1,816,000 after acquiring an additional 3,819 shares during the period. Stonebridge Financial Group LLC boosted its stake in Chubb by 2.6% during the third quarter. Stonebridge Financial Group LLC now owns 17,379 shares of the financial services provider's stock worth $5,652,000 after acquiring an additional 443 shares in the last quarter. Finally, Sarver Vrooman Wealth Advisors boosted its stake in Chubb by 326.7% during the third quarter. Sarver Vrooman Wealth Advisors now owns 576 shares of the financial services provider's stock worth $187,000 after acquiring an additional 441 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Insider Buying and Selling at Chubb

In related news, Director Michael Connors sold 5,500 shares of the company's 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 sale, the director owned 12,803 shares of the company's stock, valued at $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president directly owned 33,749 shares of the company's stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Mizuho dropped their target price on Chubb from $352.00 to $347.00 and set a "neutral" rating on the stock in a report on Wednesday, September 16th. Piper Sandler increased their price objective on Chubb from $340.00 to $374.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Wells Fargo & Company decreased their target price on Chubb from $358.00 to $356.00 and set an "equal weight" rating for the company in a research report on Thursday, July 23rd. Cantor Fitzgerald upped their target price on shares of Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Chubb in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $360.77.

Chubb Stock Performance

CB opened at $331.01 on Monday. The company's 50 day moving average is $342.46 and its 200 day moving average is $335.13. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The company has a market cap of $127.70 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.47 and a beta of 0.36. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm had revenue of $11.97 billion during the quarter, compared to analysts' expectations of $15.07 billion. During the same period in the prior year, the company posted $6.14 earnings per share. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities research analysts predict that Chubb Limited will post 27.39 EPS for the current year.

Chubb Announces Dividend

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

About Chubb

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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