Weiss Asset Management LP Takes Position in Chubb Limited (NYSE:CB)

Weiss Asset Management LP bought a new position in shares of Chubb Limited (NYSE:CB) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 95,092 shares of the financial services provider’s stock, valued at approximately $27,424,000.

A number of other large investors also recently modified their holdings of the company. Ironwood Investment Counsel LLC boosted its stake in Chubb by 2.1% during the 3rd quarter. Ironwood Investment Counsel LLC now owns 1,721 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 35 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Chubb by 0.5% in the second quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock valued at $1,917,000 after purchasing an additional 40 shares in the last quarter. Steigerwald Gordon & Koch Inc. boosted its position in shares of Chubb by 1.9% during the second quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock valued at $543,000 after buying an additional 40 shares during the last quarter. LVW Advisors LLC grew its holdings in Chubb by 0.3% during the third quarter. LVW Advisors LLC now owns 11,754 shares of the financial services provider’s stock worth $3,390,000 after buying an additional 40 shares in the last quarter. Finally, Wealth Effects LLC raised its position in Chubb by 3.0% in the 3rd quarter. Wealth Effects LLC now owns 1,370 shares of the financial services provider’s stock valued at $395,000 after buying an additional 40 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. This trade represents a 5.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.86% of the company’s stock.

Chubb Trading Up 0.7 %

Shares of CB opened at $286.62 on Friday. Chubb Limited has a fifty-two week low of $216.90 and a fifty-two week high of $302.05. The business has a 50-day moving average of $287.01 and a 200 day moving average of $276.20. The firm has a market cap of $115.54 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 6.66 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last posted its 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 net margin of 18.32% and a return on equity of 15.46%. The firm had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $4.95 earnings per share. As a group, research analysts forecast that Chubb Limited will post 21.82 EPS for the current year.

Chubb Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CB. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price target on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Bank of America upped their price objective on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Piper Sandler increased their price objective on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group boosted their target price on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $287.37.

Chubb 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.