Chubb Limited $CB Stake Trimmed by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. cut its holdings in shares of Chubb Limited (NYSE:CB) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 915,648 shares of the financial services provider’s stock after selling 41,418 shares during the period. Chubb comprises approximately 2.4% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 12th biggest position. Beutel Goodman & Co Ltd. owned 0.24% of Chubb worth $297,814,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. IMG Wealth Management Inc. acquired a new position in shares of Chubb during the 2nd quarter worth $25,000. Dunhill Financial LLC bought a new stake in shares of Chubb during the 2nd quarter worth $25,000. Parvin Asset Management LLC bought a new stake in shares of Chubb during the 2nd quarter worth $26,000. Highland Investment Advisors LLC acquired a new stake in Chubb in the second quarter valued at about $26,000. Finally, Frazier Financial Advisors LLC boosted its stake in Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on CB shares. Cantor Fitzgerald reissued a “neutral” rating and set a $333.00 target price on shares of Chubb in a research note on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $354.00 price target on shares of Chubb in a research note on Wednesday, July 22nd. Citizens Jmp reaffirmed a “market outperform” rating and set a $400.00 price target on shares of Chubb in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Chubb from a “buy (b)” rating to a “buy (a)” rating in a research report on Friday, October 16th. Finally, Piper Sandler upped their price objective on shares of Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $362.78.

Insider Transactions at Chubb

In other news, EVP Timothy Boroughs sold 13,596 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $356.77, for a total value of $4,850,644.92. Following the completion of the transaction, the executive vice president owned 5,588 shares of the company’s stock, valued at $1,993,630.76. This represents a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael Connors sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the transaction, the director directly owned 12,803 shares of the company’s stock, valued at $4,417,035. This represents a 30.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 32,985 shares of company stock worth $11,748,463. Insiders own 0.37% of the company’s stock.

Chubb Trading Down 0.4%

Shares of CB stock opened at $363.38 on Tuesday. The firm has a market capitalization of $138.84 billion, a P/E ratio of 12.71, a P/E/G ratio of 1.73 and a beta of 0.29. Chubb Limited has a twelve month low of $284.63 and a twelve month high of $384.26. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.23. The stock’s fifty day simple moving average is $346.50 and its 200 day simple moving average is $335.79.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.77 by $0.89. The business had revenue of $16.20 billion during the quarter, compared to analysts’ expectations of $15.66 billion. Chubb had a return on equity of 14.41% and a net margin of 18.15%. During the same quarter in the prior year, the firm earned $7.49 EPS. As a group, sell-side analysts predict that Chubb Limited will post 28.89 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, September 11th. Chubb’s payout ratio is 14.28%.

Chubb Company Profile

Chubb Limited is a global insurance company that provides property and casualty insurance, accident and health coverage, life insurance, and reinsurance. Its customers include individuals, businesses, and institutions, with products ranging from personal and commercial coverage to specialized insurance solutions.

The company serves customers across North America, Europe, Asia-Pacific, Latin America, and other markets. Its operations include underwriting, claims services, and risk management for a broad range of industries and personal insurance needs.

Chubb’s current corporate history dates to 2016, when ACE Limited acquired The Chubb Corporation and adopted the Chubb name.