Chubb Limited (NYSE:CB) Shares Sold by RBA Wealth Management LLC

RBA Wealth Management LLC lowered its stake in shares of Chubb Limited (NYSE:CB) by 4.4% in the third quarter, HoldingsChannel reports. The firm owned 1,515 shares of the financial services provider’s stock after selling 70 shares during the quarter. RBA Wealth Management LLC’s holdings in Chubb were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Capital World Investors raised its stake in Chubb by 6.6% during the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after acquiring an additional 685,677 shares in the last quarter. Capital Research Global Investors raised its stake in Chubb by 44.4% during the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after acquiring an additional 2,064,730 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Chubb by 1.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock valued at $1,258,202,000 after acquiring an additional 63,891 shares in the last quarter. Legal & General Group Plc raised its stake in Chubb by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock valued at $938,663,000 after acquiring an additional 104,986 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Chubb by 14.8% during the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after acquiring an additional 457,881 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Down 0.2 %

Shares of CB stock traded down $0.74 on Tuesday, reaching $297.11. 1,066,801 shares of the company’s stock traded hands, compared to its average volume of 1,611,082. Chubb Limited has a 12-month low of $205.64 and a 12-month high of $302.05. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $120.64 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 5.87 and a beta of 0.66. The business’s 50 day moving average price is $285.39 and its two-hundred day moving average price is $268.41.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. During the same quarter in the previous year, the company posted $4.92 earnings per share. Chubb’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities analysts forecast that Chubb Limited will post 21.32 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.23%. Chubb’s dividend payout ratio is 16.16%.

Insider Activity

In other news, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at approximately $12,187,213.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares in the company, valued at $167,748,829.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the transaction, the executive vice president now owns 44,632 shares in the company, valued at $12,187,213.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on CB shares. JPMorgan Chase & Co. boosted their price objective on Chubb from $290.00 to $291.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Piper Sandler boosted their price objective on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Roth Mkm boosted their price objective on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. William Blair downgraded Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Finally, Bank of America boosted their price objective on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Chubb has a consensus rating of “Hold” and a consensus target price of $282.37.

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.