Cigna Investments Inc. New Sells 167 Shares of Chubb Limited (NYSE:CB)

Cigna Investments Inc. New cut its stake in shares of Chubb Limited (NYSE:CB) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,093 shares of the financial services provider’s stock after selling 167 shares during the quarter. Cigna Investments Inc. New’s holdings in Chubb were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors boosted its stake in Chubb by 6.6% in the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after buying an additional 685,677 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Chubb by 44.4% in the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after purchasing an additional 2,064,730 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Chubb by 1.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock valued at $1,258,202,000 after purchasing an additional 63,891 shares during the last quarter. Legal & General Group Plc raised its position in Chubb by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after purchasing an additional 104,986 shares during the period. Finally, Lazard Asset Management LLC raised its position in Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after purchasing an additional 457,881 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research note on Wednesday. Piper Sandler increased their price objective on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Morgan Stanley lifted their target price on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Jefferies Financial Group increased their price target on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI boosted their price objective on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Chubb has an average rating of “Hold” and an average target price of $286.47.

Chubb Stock Down 0.4 %

CB stock opened at $282.44 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.35 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average of $288.20 and a 200 day moving average of $270.41. Chubb Limited has a twelve month low of $212.82 and a twelve month high of $302.05. The firm has a market cap of $114.15 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 5.86 and a beta of 0.66.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.93 by $0.79. The firm had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.95 earnings per share. On average, research analysts forecast that Chubb Limited will post 21.42 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were given a dividend of $0.91 per share. The ex-dividend date was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.29%. Chubb’s dividend payout ratio (DPR) is 14.91%.

Insider Activity

In other news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the transaction, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the sale, the director now directly owns 39,172 shares in the company, valued at $11,261,558.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at $160,341,094.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,636 shares of company stock valued at $24,874,208 in the last ninety days. 0.86% of the stock is currently owned by company insiders.

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.