Chubb Limited (NYSE:CB) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Chubb Limited (NYSE:CB) by 9.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 204,800 shares of the financial services provider’s stock after selling 20,216 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Chubb worth $59,062,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC increased its position in shares of Chubb by 7.3% in the 3rd 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. Ameriprise Financial Inc. grew its stake in Chubb by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after purchasing an additional 63,891 shares in the last quarter. Legal & General Group Plc increased its holdings in Chubb by 2.9% in the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock valued at $938,663,000 after buying an additional 104,986 shares during the last quarter. Raymond James & Associates raised its stake in Chubb by 2.9% during the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock valued at $778,270,000 after buying an additional 87,059 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Chubb by 7.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,297,706 shares of the financial services provider’s stock worth $586,207,000 after buying an additional 160,335 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Performance

CB opened at $289.91 on Tuesday. Chubb Limited has a 1-year low of $216.90 and a 1-year high of $302.05. The company has a market capitalization of $116.86 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 6.73 and a beta of 0.67. The business has a 50 day moving average price of $287.30 and a two-hundred day moving average price of $275.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.74. The business had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $4.95 earnings per share. Research analysts predict that Chubb Limited will post 21.82 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.91 dividend. The ex-dividend date of this dividend 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 currently 14.91%.

Insider Activity at Chubb

In other news, EVP Joseph F. Wayland sold 6,599 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $287.06, for a total transaction of $1,894,308.94. Following the sale, the executive vice president now directly owns 84,101 shares of the company’s stock, valued at $24,142,033.06. The trade was a 7.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares of the company’s stock, valued at $160,341,094.40. This trade represents a 5.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,454 shares of company stock valued at $19,446,155 over the last ninety days. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CB shares. Piper Sandler boosted their price target on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Evercore ISI increased their price target on Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods increased their target price on Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Bank of America boosted their price target on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $287.37.

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.