Fmr LLC Increases Stake in Chubb Limited (NYSE:CB)

Fmr LLC raised its holdings in shares of Chubb Limited (NYSE:CB) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,576,485 shares of the financial services provider’s stock after acquiring an additional 1,052,999 shares during the quarter. Fmr LLC owned approximately 3.86% of Chubb worth $4,492,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its holdings in Chubb by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after buying an additional 63,891 shares during the period. 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 purchasing an additional 104,986 shares during the period. Raymond James & Associates lifted its holdings in Chubb by 2.9% in the 2nd quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock worth $778,270,000 after purchasing an additional 87,059 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Chubb by 7.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,297,706 shares of the financial services provider’s stock worth $586,207,000 after purchasing an additional 160,335 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Chubb by 0.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,428,357 shares of the financial services provider’s stock valued at $364,345,000 after buying an additional 8,215 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Bank of America boosted their price target on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Piper Sandler raised their price objective on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Wells Fargo & Company lifted their target price on Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group increased their price target on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Chubb currently has a consensus rating of “Hold” and an average target price of $287.37.

Chubb Stock Performance

Shares of NYSE:CB opened at $286.41 on Tuesday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $115.45 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 6.65 and a beta of 0.67. Chubb Limited has a 12 month low of $216.90 and a 12 month high of $302.05. The firm’s 50-day moving average is $287.37 and its 200 day moving average is $274.81.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. During the same period in the prior year, the business posted $4.95 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts predict that Chubb Limited will post 21.77 EPS for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, December 13th. Chubb’s payout ratio is presently 14.91%.

Insider Buying and Selling

In other news, insider John J. Lupica sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total value of $4,282,350.00. Following the completion of the sale, the insider now owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. This represents a 12.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. This trade represents a 5.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,715 shares of company stock valued at $23,803,540 in the last 90 days. Company insiders own 0.86% of the company’s stock.

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.