Truist Financial Corp lessened its holdings in Chubb Limited (NYSE:CB - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,283 shares of the financial services provider's stock after selling 5,828 shares during the period. Truist Financial Corp's holdings in Chubb were worth $55,954,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. California Public Employees Retirement System boosted its holdings in Chubb by 1.1% in the 4th quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider's stock worth $373,110,000 after buying an additional 14,610 shares during the last quarter. Canopy Partners LLC lifted its holdings in Chubb by 94.4% in the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider's stock valued at $1,331,000 after acquiring an additional 2,340 shares during the last quarter. Vista Investment Partners II LLC acquired a new position in Chubb in the fourth quarter valued at approximately $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Chubb by 15.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider's stock valued at $760,853,000 after acquiring an additional 366,559 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Chubb by 3.3% in the first quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock valued at $13,070,000 after acquiring an additional 1,375 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.
Insider Activity at Chubb
In related news, insider John J. Lupica sold 5,513 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares of the company's stock, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John W. Keogh sold 9,794 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the sale, the chief operating officer owned 247,538 shares of the company's stock, valued at approximately $72,526,158.62. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,390 shares of company stock valued at $29,163,135. Company insiders own 0.86% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on CB shares. Barclays lowered Chubb from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $321.00 to $298.00 in a research report on Monday. Jefferies Financial Group raised their price objective on Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Keefe, Bruyette & Woods increased their target price on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research note on Wednesday. Piper Sandler raised their price objective on shares of Chubb from $310.00 to $335.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Finally, Wells Fargo & Company increased their target price on shares of Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $306.67.
View Our Latest Research Report on CB
Chubb Stock Down 0.1%
Shares of CB traded down $0.31 during midday trading on Wednesday, hitting $279.64. The company had a trading volume of 1,142,436 shares, compared to its average volume of 1,741,608. The company's 50 day moving average price is $287.80 and its 200 day moving average price is $282.19. The stock has a market cap of $112.06 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 3.11 and a beta of 0.53. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21.
Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.40. Chubb had a net margin of 15.05% and a return on equity of 12.37%. The company had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. On average, equities research analysts predict that Chubb Limited will post 21.52 EPS for the current year.
Chubb declared that its Board of Directors has approved a stock buyback program on Thursday, May 15th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
Chubb Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a $0.97 dividend. This is a positive change from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Friday, June 13th. Chubb's dividend payout ratio is currently 18.67%.
Chubb Company Profile
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Free Report)
Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.
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