Crossmark Global Holdings Inc. Boosts Stake in Chubb Limited $CB

Crossmark Global Holdings Inc. increased its holdings in shares of Chubb Limited (NYSE:CB) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,935 shares of the financial services provider’s stock after acquiring an additional 1,929 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Chubb were worth $9,861,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its position in shares of Chubb by 93.6% in the third quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 44 shares in the last quarter. Cedar Mountain Advisors LLC grew its holdings in Chubb by 155.6% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock valued at $26,000 after buying an additional 56 shares in the last quarter. VSM Wealth Advisory LLC purchased a new stake in Chubb in the 2nd quarter valued at $32,000. Cornerstone Planning Group LLC increased its stake in shares of Chubb by 81.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 53 shares during the last quarter. Finally, Heartwood Wealth Advisors LLC purchased a new position in shares of Chubb during the 3rd quarter worth $34,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. HSBC upped their price objective on shares of Chubb from $354.00 to $357.00 and gave the company a “buy” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. raised their price target on shares of Chubb from $327.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Chubb in a research report on Monday, December 29th. Piper Sandler increased their price objective on Chubb from $283.00 to $319.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods raised their target price on Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Chubb has an average rating of “Hold” and an average target price of $340.81.

Chubb Stock Down 0.5%

Shares of NYSE CB opened at $332.51 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $317.91 and its two-hundred day moving average is $297.29. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. The firm has a market cap of $129.73 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 2.13 and a beta of 0.46.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, beating analysts’ consensus estimates of $6.33 by $1.19. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The company’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $6.02 earnings per share. Research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio is 15.08%.

Insider Activity

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares of the company’s stock, valued at approximately $3,920,683.80. This trade represents a 70.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the transaction, the chief executive officer owned 511,576 shares of the company’s stock, valued at $169,572,096.72. This trade represents a 2.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is currently owned by corporate insiders.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.