Equitable Holdings Inc. Invests $4.14 Million in Chubb Limited $CB

Equitable Holdings Inc. purchased a new stake in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,147 shares of the financial services provider’s stock, valued at approximately $4,139,000.

Several other large investors have also recently modified their holdings of CB. XXEC Inc. bought a new stake in shares of Chubb during the second quarter valued at approximately $228,226,000. Berkshire Hathaway Inc lifted its position in Chubb by 9.3% in the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after acquiring an additional 2,916,288 shares in the last quarter. BlackRock Inc. bought a new position in Chubb in the 2nd quarter valued at approximately $9,913,336,000. State Street Corp boosted its stake in Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after purchasing an additional 68,553 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock worth $4,665,508,000 after purchasing an additional 3,049,987 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of CB opened at $338.19 on Friday. The firm has a fifty day simple moving average of $347.13 and a two-hundred day simple moving average of $333.92. The firm has a market cap of $130.47 billion, a PE ratio of 11.96, a P/E/G ratio of 1.67 and a beta of 0.39. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same period last year, the business posted $6.14 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities analysts anticipate that Chubb Limited will post 27.49 EPS for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s dividend payout ratio (DPR) is presently 14.43%.

Insider Activity

In related news, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael P. Connors sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the transaction, the director directly owned 12,803 shares in the company, valued at approximately $4,417,035. The trade was a 30.05% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CB shares. Morgan Stanley boosted their price target on Chubb from $340.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 19th. Piper Sandler lifted their price objective on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Evercore reiterated an “outperform” rating and issued a $374.00 price objective on shares of Chubb in a report on Friday, July 10th. UBS Group boosted their target price on Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chubb currently has a consensus rating of “Hold” and an average target price of $361.00.

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.