Lazard Asset Management LLC Has $427.94 Million Stock Holdings in Chubb Limited (NYSE:CB)

Lazard Asset Management LLC decreased its stake in Chubb Limited (NYSE:CB - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,548,826 shares of the financial services provider's stock after selling 197,461 shares during the period. Lazard Asset Management LLC owned 0.38% of Chubb worth $427,939,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Demars Financial Group LLC increased its stake in Chubb by 26,761.4% in the fourth quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock valued at $1,481,094,000 after purchasing an additional 5,340,499 shares during the period. Norges Bank acquired a new position in Chubb during the fourth quarter worth $1,169,720,000. Raymond James Financial Inc. acquired a new position in shares of Chubb during the 4th quarter worth $1,158,897,000. Castlekeep Investment Advisors LLC purchased a new position in Chubb in the fourth quarter valued at about $336,972,000. Finally, GQG Partners LLC raised its holdings in Chubb by 36.3% during the fourth quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider's stock worth $1,223,932,000 after purchasing an additional 1,178,628 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Activity

In other news, CEO Evan G. Greenberg sold 25,728 shares of Chubb stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the transaction, the chief executive officer now directly owns 584,395 shares of the company's stock, valued at $170,321,922.75. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joseph F. Wayland sold 10,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the sale, the executive vice president now directly owns 77,703 shares in the company, valued at approximately $22,297,652.88. This trade represents a 11.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,470 shares of company stock worth $18,562,730 over the last three months. Corporate insiders own 0.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CB shares. Keefe, Bruyette & Woods lowered their price target on shares of Chubb from $316.00 to $314.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Barclays decreased their target price on shares of Chubb from $324.00 to $321.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company upped their price target on Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Raymond James reissued a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Finally, Piper Sandler boosted their price target on Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $307.86.

Chubb Stock Performance

Shares of CB traded up $10.64 during mid-day trading on Thursday, hitting $292.02. The stock had a trading volume of 2,662,008 shares, compared to its average volume of 1,638,864. The company's fifty day simple moving average is $288.39 and its two-hundred day simple moving average is $280.63. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91. The company has a market cap of $117.02 billion, a PE ratio of 12.85, a PEG ratio of 3.36 and a beta of 0.57. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. On average, equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.33%. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is presently 17.52%.

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.