Chubb Limited $CB Shares Sold by Allworth Financial LP

Allworth Financial LP reduced its holdings in Chubb Limited (NYSE:CB) by 10.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,329 shares of the financial services provider’s stock after selling 7,797 shares during the quarter. Allworth Financial LP’s holdings in Chubb were worth $23,623,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after acquiring an additional 221 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Chubb in the fourth quarter valued at approximately $205,000. Woodline Partners LP increased its stake in shares of Chubb by 13.0% during the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock worth $3,805,000 after purchasing an additional 1,449 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Chubb by 14.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 175 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Chubb by 9.3% during the 2nd quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock worth $58,305,000 after purchasing an additional 17,155 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CB shares. Evercore reaffirmed an “outperform” rating and set a $374.00 price objective on shares of Chubb in a research note on Friday, July 10th. Citizens Jmp reissued a “market outperform” rating and issued a $400.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Weiss Ratings lowered shares of Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, August 27th. Piper Sandler raised their price target on shares of Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, Morgan Stanley lifted their price target on shares of Chubb from $340.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $361.00.

Insider Activity at Chubb

In related news, Director Michael P. Connors sold 5,500 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the transaction, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph Wayland sold 8,502 shares of Chubb stock in a transaction 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 completion of the transaction, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is currently owned by company insiders.

Chubb Trading Down 1.4%

Shares of NYSE:CB traded down $4.79 during midday trading on Tuesday, reaching $336.81. The company’s stock had a trading volume of 1,617,770 shares, compared to its average volume of 1,737,123. The firm has a market cap of $129.94 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.37. The company has a quick ratio of 0.29, a current 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. The business has a 50 day moving average price of $348.24 and a 200 day moving average price of $334.58.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.14 earnings per share. Research analysts forecast that Chubb Limited will post 27.35 EPS for the current year.

Chubb Dividend Announcement

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

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.