Chubb Limited (NYSE:CB) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in Chubb Limited (NYSE:CB) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,873,377 shares of the financial services provider’s stock after selling 849,137 shares during the period. Chubb accounts for approximately 0.7% of Massachusetts Financial Services Co. MA’s investment portfolio, making the stock its 29th largest holding. Massachusetts Financial Services Co. MA’s holdings in Chubb were worth $2,175,414,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CB. RFG Bristol Wealth Advisors LLC acquired a new stake in shares of Chubb in the fourth quarter valued at approximately $330,000. May Hill Capital LLC bought a new position in Chubb in the 4th quarter worth approximately $254,000. Nemes Rush Group LLC increased its position in Chubb by 5.8% in the 4th quarter. Nemes Rush Group LLC now owns 57,919 shares of the financial services provider’s stock valued at $16,003,000 after acquiring an additional 3,190 shares during the period. Alliancebernstein L.P. raised its stake in Chubb by 130.0% during the 4th quarter. Alliancebernstein L.P. now owns 956,522 shares of the financial services provider’s stock valued at $264,287,000 after acquiring an additional 540,554 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC boosted its position in Chubb by 8.3% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 2,220 shares of the financial services provider’s stock worth $613,000 after acquiring an additional 170 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Price Performance

Shares of NYSE:CB opened at $301.54 on Wednesday. The company has a market capitalization of $120.74 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The stock has a fifty day moving average of $280.57 and a 200-day moving average of $281.60. Chubb Limited has a one year low of $238.85 and a one year high of $304.34.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, March 14th. Chubb’s payout ratio is 16.02%.

Analyst Ratings Changes

A number of brokerages have recently commented on CB. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price target on shares of Chubb in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Piper Sandler boosted their price target on shares of Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research report on Tuesday. JMP Securities reiterated a “market outperform” rating and issued a $325.00 price objective on shares of Chubb in a report on Wednesday, January 29th. Finally, HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective on the stock in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $303.14.

Insider Transactions at Chubb

In related news, CAO George F. Ohsiek sold 763 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.41, for a total value of $221,582.83. Following the completion of the sale, the chief accounting officer now directly owns 20,044 shares of the company’s stock, valued at approximately $5,820,978.04. This represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total value of $4,367,177.76. Following the sale, the executive vice president now owns 29,194 shares of the company’s stock, valued at $8,644,927.28. The trade was a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,470 shares of company stock valued at $18,562,730 over the last ninety days. Corporate insiders own 0.86% of the company’s stock.

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.