BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Stock Position in Chubb Limited (NYSE:CB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in Chubb Limited (NYSE:CB) by 17.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 64,365 shares of the financial services provider’s stock after selling 13,401 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Chubb were worth $18,562,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Chubb by 7.3% in the third quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock worth $4,492,103,000 after purchasing an additional 1,052,999 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Chubb by 28,885.3% in the third quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after purchasing an additional 931,841 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Chubb by 4,559.3% in the third quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock worth $243,641,000 after purchasing an additional 826,700 shares during the last quarter. Troy Asset Management Ltd purchased a new position in shares of Chubb in the second quarter worth about $106,975,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Chubb by 49.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock worth $338,070,000 after purchasing an additional 389,343 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chubb

In related news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares in the company, valued at approximately $167,748,829.50. This trade represents a 4.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the transaction, the director now owns 39,172 shares in the company, valued at approximately $11,261,558.28. The trade was a 0.66 % 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 over the last ninety days. Insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays assumed coverage on Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Piper Sandler raised their target price on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Morgan Stanley raised their target price on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, JMP Securities raised their target price on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Chubb presently has a consensus rating of “Hold” and an average price target of $287.37.

Chubb Stock Down 0.6 %

Shares of CB opened at $288.73 on Friday. 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 stock’s 50 day moving average is $287.30 and its two-hundred day moving average is $275.65. The firm has a market cap of $116.39 billion, a P/E ratio of 11.82, a PEG ratio of 6.77 and a beta of 0.67. Chubb Limited has a 12 month low of $216.90 and a 12 month high of $302.05.

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

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, December 13th. Chubb’s dividend payout ratio is presently 14.91%.

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.