Townsquare Capital LLC Purchases 2,511 Shares of Chubb Limited (NYSE:CB)

Townsquare Capital LLC boosted its holdings in Chubb Limited (NYSE:CB) by 37.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 9,274 shares of the financial services provider’s stock after purchasing an additional 2,511 shares during the quarter. Townsquare Capital LLC’s holdings in Chubb were worth $2,675,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC boosted its position in shares of Chubb by 7.3% during the third quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock worth $4,492,103,000 after acquiring an additional 1,052,999 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Chubb by 28,885.3% in the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after acquiring an additional 931,841 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Chubb by 4,559.3% during the 3rd 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 period. Troy Asset Management Ltd bought a new position in Chubb during the 2nd quarter valued at about $106,975,000. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new stake in Chubb in the 2nd quarter worth about $93,411,000. 83.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CB has been the topic of several research analyst reports. Barclays assumed coverage on Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective on the stock. Morgan Stanley raised their price target on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Piper Sandler boosted their price objective on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods upped their target price on shares of Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company lifted their price target on shares of Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $287.37.

Insider Activity

In related news, insider John J. Lupica sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total value of $4,282,350.00. Following the transaction, the insider now directly owns 103,950 shares of the company’s stock, valued at $29,676,685.50. This represents a 12.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 30,537 shares of Chubb 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 sale, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This represents a 4.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,715 shares of company stock worth $23,803,540 over the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Chubb Price Performance

CB opened at $288.73 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $116.39 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 6.77 and a beta of 0.67. The business’s 50-day moving average is $287.30 and its two-hundred day moving average is $275.65. Chubb Limited has a 1 year low of $216.90 and a 1 year 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 business had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.95 earnings per share. Research analysts anticipate that Chubb Limited will post 21.77 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm 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 dividend of $0.91 per share. The ex-dividend date is Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.26%. Chubb’s payout ratio is 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.