Capital Bank & Trust Co reduced its stake in Chubb Ltd (NYSE:CB) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 508,472 shares of the financial services provider’s stock after selling 10,351 shares during the quarter. Capital Bank & Trust Co owned about 0.11% of Chubb worth $79,149,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Simon Quick Advisors LLC lifted its stake in shares of Chubb by 709.5% in the fourth quarter. Simon Quick Advisors LLC now owns 170 shares of the financial services provider’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Retirement Network purchased a new position in Chubb in the 4th quarter worth approximately $29,000. Busey Wealth Management purchased a new position in Chubb in the 4th quarter worth approximately $30,000. Firestone Capital Management bought a new position in Chubb in the 4th quarter valued at approximately $37,000. Finally, Ancora Advisors LLC bought a new position in Chubb in the 4th quarter valued at approximately $38,000. 88.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have commented on CB. TheStreet lowered Chubb from a “b” rating to a “c+” rating in a report on Monday. Morgan Stanley increased their price objective on Chubb from $157.00 to $168.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Piper Sandler reduced their price objective on Chubb from $163.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, March 11th. Wells Fargo & Co boosted their target price on Chubb from $180.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Finally, Atlantic Securities raised Chubb from an “underweight” rating to a “neutral” rating and set a $130.00 target price for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $159.85.
In related news, Director Theodore Shasta acquired 2,000 shares of Chubb stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average price of $99.74 per share, for a total transaction of $199,480.00. Following the completion of the transaction, the director now directly owns 16,375 shares in the company, valued at approximately $1,633,242.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Paul Bennett Medini sold 3,982 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $163.41, for a total transaction of $650,698.62. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.
CB stock traded up $4.94 during midday trading on Thursday, reaching $106.74. 61,039 shares of the company’s stock traded hands, compared to its average volume of 3,471,168. Chubb Ltd has a 52-week low of $87.35 and a 52-week high of $167.74. The stock’s 50-day moving average is $143.14 and its 200 day moving average is $151.41. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. The stock has a market cap of $46.48 billion, a P/E ratio of 11.14, a PEG ratio of 0.94 and a beta of 0.63.
Chubb (NYSE:CB) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.18. The company had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Chubb had a net margin of 12.61% and a return on equity of 8.59%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.02 EPS. As a group, research analysts expect that Chubb Ltd will post 10.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 20th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, March 19th. Chubb’s dividend payout ratio (DPR) is 29.67%.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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