Truist Financial Corp Trims Stock Position in Chubb Limited (NYSE:CB)

Truist Financial Corp cut its position in Chubb Limited (NYSE:CB - Free Report) by 52.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 350,274 shares of the financial services provider's stock after selling 393,885 shares during the quarter. Truist Financial Corp owned 0.09% of Chubb worth $79,162,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CB. Deutsche Bank AG increased its stake in shares of Chubb by 426.8% in the third quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider's stock valued at $3,355,762,000 after buying an additional 13,059,385 shares during the period. Lazard Asset Management LLC grew its stake in Chubb by 978.1% during the third quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider's stock worth $113,781,000 after purchasing an additional 495,860 shares during the period. International Assets Investment Management LLC grew its stake in Chubb by 19,454.2% during the fourth quarter. International Assets Investment Management LLC now owns 485,336 shares of the financial services provider's stock worth $1,096,860,000 after purchasing an additional 482,854 shares during the period. Envestnet Asset Management Inc. grew its stake in Chubb by 43.4% during the third quarter. Envestnet Asset Management Inc. now owns 1,107,362 shares of the financial services provider's stock worth $230,531,000 after purchasing an additional 334,970 shares during the period. Finally, Alphinity Investment Management Pty Ltd boosted its holdings in Chubb by 155.8% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider's stock worth $120,235,000 after acquiring an additional 324,019 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Timothy Alan Boroughs sold 14,303 shares of the business's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total value of $3,701,330.34. Following the completion of the sale, the executive vice president now owns 35,662 shares of the company's stock, valued at approximately $9,228,612.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider John J. Lupica sold 34,464 shares of the business's stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the transaction, the insider now owns 130,937 shares in the company, valued at approximately $33,902,208.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy Alan Boroughs sold 14,303 shares of the business's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $258.78, for a total value of $3,701,330.34. Following the transaction, the executive vice president now owns 35,662 shares in the company, valued at approximately $9,228,612.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,043 shares of company stock valued at $29,766,694. Insiders own 0.86% of the company's stock.

Chubb Price Performance

CB stock traded down $0.51 during mid-day trading on Friday, hitting $245.45. 1,565,900 shares of the stock were exchanged, compared to its average volume of 1,523,435. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.35 and a quick ratio of 0.29. The business has a fifty day moving average price of $252.33 and a 200 day moving average price of $235.71. Chubb Limited has a 12 month low of $183.71 and a 12 month high of $260.58. The stock has a market capitalization of $99.65 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 1.16 and a beta of 0.62.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating analysts' consensus estimates of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The company had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same quarter in the previous year, the company posted $4.41 EPS. Chubb's revenue for the quarter was up 14.1% on a year-over-year basis. On average, sell-side analysts anticipate that Chubb Limited will post 21.23 EPS for the current year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Thursday, March 14th. Chubb's dividend payout ratio (DPR) is presently 15.27%.

Wall Street Analysts Forecast Growth

CB has been the topic of several recent research reports. Piper Sandler reiterated an "overweight" rating and issued a $282.00 price target on shares of Chubb in a report on Monday, April 1st. Evercore ISI raised their target price on Chubb from $270.00 to $281.00 and gave the company an "outperform" rating in a report on Thursday, April 11th. StockNews.com lowered Chubb from a "buy" rating to a "hold" rating in a report on Wednesday. Morgan Stanley raised their target price on Chubb from $258.00 to $260.00 and gave the company an "equal weight" rating in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods raised their target price on Chubb from $275.00 to $297.00 and gave the company an "outperform" rating in a report on Wednesday, April 10th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Chubb currently has a consensus rating of "Moderate Buy" and a consensus target price of $266.89.

About Chubb

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.