WestEnd Advisors LLC Has $40.09 Million Stock Position in Chubb Limited $CB

Key Points

• WestEnd Advisors LLC reduced its stake in Chubb Limited by 11.9%, now holding shares worth approximately $40.09 million.
• Chubb's quarterly earnings surpassed expectations, reporting **$6.14** earnings per share against a forecast of **$5.84**, along with a revenue of **$14.20 billion**.
• The company's annualized dividend was recently declared at **$3.88**, yielding approximately **1.3%**, with a low dividend payout ratio of **17.12%**.

WestEnd Advisors LLC lessened its stake in Chubb Limited (NYSE:CB - Free Report) by 11.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,384 shares of the financial services provider's stock after selling 18,611 shares during the quarter. WestEnd Advisors LLC's holdings in Chubb were worth $40,093,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. GQG Partners LLC raised its stake in Chubb by 112.1% in the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock valued at $2,836,899,000 after purchasing an additional 4,964,298 shares in the last quarter. Demars Financial Group LLC grew its position in Chubb by 16.4% in the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock valued at $1,884,004,000 after acquiring an additional 878,177 shares during the last quarter. Ameriprise Financial Inc. grew its position in Chubb by 6.9% in the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider's stock valued at $1,418,398,000 after acquiring an additional 304,751 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Chubb by 1.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider's stock valued at $840,756,000 after acquiring an additional 30,334 shares during the last quarter. Finally, Nuveen LLC bought a new position in Chubb in the first quarter valued at about $562,221,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on CB. Piper Sandler reiterated a "neutral" rating and issued a $283.00 target price (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Wolfe Research upgraded Chubb to a "strong-buy" rating in a report on Tuesday, September 16th. Keefe, Bruyette & Woods boosted their price target on Chubb from $324.00 to $333.00 and gave the stock an "outperform" rating in a report on Monday. Barclays cut Chubb from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Finally, Morgan Stanley reduced their price target on Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $303.72.

Chubb Price Performance

Shares of NYSE:CB opened at $289.24 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The stock's 50 day moving average is $275.58 and its 200-day moving average is $282.08. The firm has a market capitalization of $115.32 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 3.23 and a beta of 0.54.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the prior year, the firm earned $5.38 earnings per share. Chubb's revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were issued a dividend of $0.97 per share. The ex-dividend date was Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.3%. Chubb's dividend payout ratio is 17.12%.

Insider Transactions at Chubb

In related news, Director Michael Corbat purchased 425 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the acquisition, the director owned 2,450 shares of the company's stock, valued at $661,010. This represents a 20.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.86% of the company's stock.

Chubb Company Profile

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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