Sterling Capital Management LLC Buys 63,838 Shares of Chubb Limited $CB

Key Points

• Sterling Capital Management increased its Chubb stake by 134.3%, buying 63,838 additional shares to hold 111,356 shares worth approximately $36.2 million. Institutional investors own 83.81% of Chubb.
• Analyst sentiment remains mixed: price targets range from $301 to $405, with a consensus rating of Hold and an average target of $361.09.
• Chubb reported quarterly EPS of $7.66, beating estimates of $6.77, and revenue of $16.20 billion; it also paid a $1.02 quarterly dividend, representing a 1.1% annualized yield.

Sterling Capital Management LLC increased its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 134.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 111,356 shares of the financial services provider's stock after buying an additional 63,838 shares during the period. Chubb comprises about 0.7% of Sterling Capital Management LLC's holdings, making the stock its 29th biggest position. Sterling Capital Management LLC's holdings in Chubb were worth $36,219,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. IMG Wealth Management Inc. purchased a new stake in shares of Chubb during the 2nd quarter worth approximately $25,000. Dunhill Financial LLC bought a new stake in shares of Chubb in the 2nd quarter worth approximately $25,000. Parvin Asset Management LLC purchased a new position in Chubb in the second quarter valued at approximately $26,000. Highland Investment Advisors LLC purchased a new position in Chubb in the second quarter valued at approximately $26,000. Finally, Frazier Financial Advisors LLC grew its holdings in Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 38 shares during the period. Institutional investors own 83.81% of the company's stock.

Analysts Set New Price Targets

CB has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Chubb from $371.00 to $374.00 and gave the stock a "neutral" rating in a research report on Friday. Citigroup reaffirmed a "buy" rating and set a $405.00 price target (up from $395.00) on shares of Chubb in a research report on Wednesday. HSBC reaffirmed a "hold" rating and set a $359.00 price target on shares of Chubb in a research report on Wednesday, October 7th. Atlantic Securities set a $301.00 price objective on Chubb in a report on Wednesday, July 15th. Finally, Evercore reissued an "outperform" rating and issued a $374.00 price objective on shares of Chubb in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $361.09.

Insider Transactions at Chubb

In related news, Director Michael Connors sold 5,500 shares of the stock in a transaction dated Friday, August 21st. The stock was 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 in the company, valued at $4,417,035. This represents a 30.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares in the company, valued at approximately $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.

Chubb News Summary

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Chubb’s latest earnings call highlighted solid profits, strong underwriting performance and investment-float growth, supporting the view that the insurer’s core business remains healthy. Chubb Earnings Call Highlights
• Positive Sentiment: Goldman Sachs maintained its Buy rating, while Wells Fargo raised its price target to $366 and JPMorgan increased its target to $374, indicating some analysts still see additional upside. Wells Fargo Rating
• Positive Sentiment: One analysis argued that Chubb may remain inexpensive despite a roughly 105% run, with valuation supported by its earnings power and underwriting results. Chubb Valuation Analysis
• Neutral Sentiment: Wells Fargo kept an Equal Weight view, JPMorgan and Mizuho retained Neutral ratings, and Cantor Fitzgerald, Barclays and Deutsche Bank maintained Hold ratings. The broad analyst stance remains cautious rather than decisively bullish. Deutsche Bank Rating
• Negative Sentiment: Several revised targets remain close to the trading price: Mizuho’s $350 target implies downside, while the reported consensus target of $358.36 suggests limited near-term appreciation. This may be weighing on the stock after its strong advance. Chubb Consensus Price Target

Chubb Price Performance

Shares of CB stock traded down $8.79 on Friday, reaching $355.16. The company's stock had a trading volume of 1,660,993 shares, compared to its average volume of 1,597,762. Chubb Limited has a 12-month low of $273.35 and a 12-month high of $365.91. The company has a quick ratio of 0.29, a current ratio of 0.35 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $137.02 billion, a P/E ratio of 12.43, a PEG ratio of 1.62 and a beta of 0.36. The stock's 50 day simple moving average is $341.68 and its 200-day simple moving average is $337.44.

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, beating the consensus estimate of $6.77 by $0.89. Chubb had a return on equity of 14.41% and a net margin of 18.15%. The firm had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.66 billion. During the same period in the prior year, the company earned $7.49 EPS. As a group, equities analysts predict that Chubb Limited will post 27.83 earnings per share for the current fiscal year.

Chubb Announces Dividend

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

About Chubb

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.

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB - Free Report).

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.