Bank of Montreal Can Sells 10,335 Shares of Chubb Limited $CB

Bank of Montreal Can trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 526,970 shares of the financial services provider’s stock after selling 10,335 shares during the quarter. Bank of Montreal Can owned 0.13% of Chubb worth $152,674,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MUFG Securities EMEA plc acquired a new position in shares of Chubb in the 2nd quarter worth approximately $20,280,000. Versor Investments LP acquired a new position in shares of Chubb in the 2nd quarter worth approximately $658,000. Accuvest Global Advisors acquired a new position in shares of Chubb in the 2nd quarter worth approximately $226,000. American Institute for Advanced Investment Management LLP lifted its position in shares of Chubb by 6.4% in the 2nd quarter. American Institute for Advanced Investment Management LLP now owns 1,575 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 95 shares during the period. Finally, GHP Investment Advisors Inc. lifted its position in shares of Chubb by 10.8% in the 2nd quarter. GHP Investment Advisors Inc. now owns 885 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 86 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Buying and Selling

In other Chubb news, insider John J. Lupica sold 23,698 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $281.00, for a total transaction of $6,659,138.00. Following the completion of the sale, the insider owned 90,600 shares in the company, valued at approximately $25,458,600. The trade was a 20.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.77% of the company’s stock.

Chubb Stock Performance

Shares of CB stock opened at $278.03 on Tuesday. The firm has a market capitalization of $109.42 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 2.74 and a beta of 0.54. The firm has a fifty day simple moving average of $277.87 and a two-hundred day simple moving average of $280.56. The company has a current ratio of 0.27, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. The business had revenue of $14.87 billion during the quarter, compared to analyst estimates of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. Chubb’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.72 EPS. Analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm 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 1.4%. The ex-dividend date was Friday, September 12th. Chubb’s payout ratio is 16.19%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CB shares. Bank of America boosted their price target on shares of Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a research report on Monday, October 13th. Hsbc Global Res downgraded shares of Chubb from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Piper Sandler reiterated a “neutral” rating and set a $283.00 target price (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Morgan Stanley dropped their target price on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Finally, UBS Group boosted their target price on shares of Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chubb has a consensus rating of “Hold” and a consensus target price of $307.79.

About Chubb

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.