Kidder Stephen W Raises Position in Chubb Limited $CB

Kidder Stephen W raised its position in Chubb Limited (NYSE:CB) by 7.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 890 shares of the financial services provider’s stock after buying an additional 60 shares during the period. Kidder Stephen W’s holdings in Chubb were worth $258,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CB. GQG Partners LLC boosted its stake in Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after purchasing an additional 4,964,298 shares during the last quarter. Nuveen LLC purchased a new position in shares of Chubb in the first quarter worth about $562,221,000. Demars Financial Group LLC boosted its position in Chubb by 16.4% during the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock worth $1,884,004,000 after acquiring an additional 878,177 shares during the last quarter. SG Americas Securities LLC grew its stake in Chubb by 1,243.9% during the 1st quarter. SG Americas Securities LLC now owns 680,456 shares of the financial services provider’s stock valued at $205,491,000 after acquiring an additional 629,822 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Chubb by 6.9% during the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock valued at $1,418,398,000 after acquiring an additional 304,751 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Michael Corbat purchased 425 shares of the stock in a transaction dated Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

CB has been the topic of several recent research reports. Barclays cut Chubb from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $321.00 to $298.00 in a report on Monday, July 7th. HSBC lowered Chubb from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. Piper Sandler reaffirmed a “neutral” rating and issued a $283.00 target price (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Citigroup assumed coverage on shares of Chubb in a research report on Wednesday, August 13th. They set a “buy” rating and a $326.00 price target on the stock. Finally, Evercore ISI upped their price objective on shares of Chubb from $312.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Chubb currently has an average rating of “Hold” and an average target price of $303.72.

Chubb Stock Up 1.0%

Shares of NYSE:CB opened at $289.24 on Wednesday. The company has a market capitalization of $115.32 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 3.23 and a beta of 0.54. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The business has a 50-day moving average price of $275.58 and a 200 day moving average price of $282.08. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

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

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, September 12th. Chubb’s dividend payout ratio is 17.12%.

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.