Pictet Asset Management Holding SA Has $64.15 Million Stake in Chubb Limited $CB

Key Points

• Pictet Asset Management trimmed its stake in Chubb by 15.2% in Q4, selling 36,871 shares and now holding 205,513 shares worth about $64.15 million.
• Wall Street consensus rates Chubb a "Moderate Buy" with an average price target of $349.33, and several brokers have recently raised targets (e.g., Morgan Stanley $350, JPMorgan $340).
• Company insiders sold a total of 44,877 shares (~$14.89 million) last quarter, and insiders now own just 0.37% of the stock.

Pictet Asset Management Holding SA lowered its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 15.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 205,513 shares of the financial services provider's stock after selling 36,871 shares during the period. Pictet Asset Management Holding SA owned approximately 0.05% of Chubb worth $64,150,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after purchasing an additional 221 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Chubb during the fourth quarter valued at about $205,000. Woodline Partners LP grew its holdings in shares of Chubb by 13.0% during the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider's stock valued at $3,805,000 after buying an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Chubb by 14.4% during the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider's stock valued at $403,000 after buying an additional 175 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Chubb by 9.3% during the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider's stock valued at $58,305,000 after buying an additional 17,155 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CB. Morgan Stanley set a $350.00 price target on Chubb in a report on Friday, January 16th. Keefe, Bruyette & Woods lifted their price objective on shares of Chubb from $373.00 to $374.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Weiss Ratings upgraded shares of Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday. Piper Sandler increased their target price on shares of Chubb from $319.00 to $328.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Chubb from $330.00 to $340.00 and gave the company a "neutral" rating in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Chubb currently has an average rating of "Moderate Buy" and an average price target of $349.33.

Insiders Place Their Bets

In related news, Director Olivier Steimer sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the transaction, the director owned 25,468 shares of the company's stock, valued at approximately $8,386,612.40. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the company's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the sale, the executive vice president directly owned 11,810 shares in the company, valued at $3,920,683.80. This trade represents a 70.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 44,877 shares of company stock worth $14,885,226 in the last quarter. 0.37% of the stock is owned by company insiders.

Chubb Price Performance

Shares of NYSE:CB opened at $330.12 on Wednesday. The firm has a market capitalization of $128.82 billion, a PE ratio of 11.66, a P/E/G ratio of 1.67 and a beta of 0.49. The company has a quick ratio of 0.27, a current ratio of 0.34 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $329.13 and a two-hundred day moving average price of $310.73. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The company had revenue of $14.93 billion for the quarter. Equities analysts forecast that Chubb Limited will post 26.67 EPS for the current year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Friday, March 13th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. Chubb's dividend payout ratio is 13.70%.

Chubb 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.

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