Truist Financial Corp Trims Stake in Chubb Limited $CB

Truist Financial Corp lowered its holdings in Chubb Limited (NYSE:CB) by 2.8% during the second quarter, Holdings Channel.com reports. The firm owned 180,087 shares of the financial services provider’s stock after selling 5,196 shares during the period. Truist Financial Corp’s holdings in Chubb were worth $52,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. E Fund Management Co. Ltd. raised its stake in Chubb by 3.9% during the 1st quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 36 shares during the last quarter. Rise Advisors LLC raised its stake in Chubb by 4.6% during the 1st quarter. Rise Advisors LLC now owns 841 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 37 shares during the last quarter. Sunflower Bank N.A. raised its stake in Chubb by 4.4% during the 1st quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 38 shares during the last quarter. Avantax Planning Partners Inc. raised its stake in Chubb by 5.1% during the 1st quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider’s stock valued at $236,000 after acquiring an additional 38 shares during the last quarter. Finally, Sky Investment Group LLC raised its stake in Chubb by 1.6% during the 2nd quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider’s stock valued at $694,000 after acquiring an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of several recent analyst reports. HSBC cut Chubb from a “buy” rating to a “hold” rating and reduced their price target for the company from $317.00 to $300.00 in a report on Friday, August 1st. Morgan Stanley reduced their price target on Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a report on Monday, August 18th. Citigroup initiated coverage on Chubb in a report on Wednesday, August 13th. They issued a “buy” rating and a $326.00 price target for the company. Cantor Fitzgerald raised Chubb to a “hold” rating in a report on Wednesday, August 13th. Finally, Wolfe Research raised Chubb to a “strong-buy” rating in a report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $303.24.

Chubb Stock Performance

NYSE CB opened at $281.65 on Thursday. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a market capitalization of $112.29 billion, a P/E ratio of 12.42, a PEG ratio of 3.19 and a beta of 0.54. The business has a 50 day moving average price of $274.24 and a 200 day moving average price of $282.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.Chubb’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.38 EPS. Sell-side analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb’s dividend payout ratio is 17.12%.

Insider Buying and Selling

In related news, Director Michael Corbat bought 425 shares of the stock in a transaction on Friday, July 25th. The shares were purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director owned 2,450 shares in the company, valued at $661,010. This represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.77% 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.