Russell Investments Group Ltd. Trims Stake in Chubb Limited $CB

Russell Investments Group Ltd. lessened its holdings in shares of Chubb Limited (NYSE:CB) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 401,442 shares of the financial services provider’s stock after selling 2,102 shares during the period. Russell Investments Group Ltd. owned about 0.10% of Chubb worth $113,250,000 at the end of the most recent reporting period.

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

Chubb Price Performance

Shares of CB stock opened at $323.95 on Tuesday. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $345.67. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $318.39 and a two-hundred day simple moving average of $298.28. The stock has a market capitalization of $126.39 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 2.06 and a beta of 0.46.

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

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend 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 (DPR) is 15.08%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Cantor Fitzgerald lifted their target price on Chubb from $300.00 to $309.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Bank of America cut their price target on shares of Chubb from $279.00 to $259.00 and set an “underperform” rating on the stock in a report on Friday, January 16th. Piper Sandler raised their price target on shares of Chubb from $283.00 to $319.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Chubb in a report on Monday, December 29th. Finally, Raymond James Financial boosted their price objective on shares of Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Chubb presently has a consensus rating of “Hold” and an average price target of $340.81.

Insider Transactions at Chubb

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the transaction, the executive vice president directly owned 11,810 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. 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 transaction, the chief executive officer directly owned 511,576 shares in the company, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.86% of the company’s stock.

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.