Burney Co. Reduces Stock Holdings in Chubb Limited $CB

Burney Co. reduced its position in shares of Chubb Limited (NYSE:CB) by 31.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 5,072 shares of the financial services provider’s stock after selling 2,314 shares during the quarter. Burney Co.’s holdings in Chubb were worth $1,653,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Berkshire Hathaway Inc boosted its holdings in Chubb by 9.3% during 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 during the period. State Street Corp lifted its holdings 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 worth $4,827,852,000 after buying an additional 68,553 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Chubb by 25.6% during 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 buying an additional 3,049,987 shares in the last quarter. GQG Partners LLC boosted its position in Chubb by 15.2% in the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after buying an additional 1,647,729 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Chubb by 9.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock valued at $1,426,475,000 after buying an additional 427,512 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CB. Deutsche Bank Aktiengesellschaft upped their price objective on Chubb from $304.00 to $330.00 and gave the stock a “hold” rating in a research report on Monday, March 23rd. Barclays set a $387.00 target price on Chubb in a research note on Tuesday. Mizuho cut their price target on Chubb from $336.00 to $335.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Wolfe Research increased their price target on Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Finally, Piper Sandler lifted their price objective on Chubb from $328.00 to $340.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $352.90.

Insider Transactions at Chubb

In other Chubb news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

Chubb Trading Down 1.2%

CB opened at $355.12 on Thursday. The firm has a market cap of $137.74 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.84 and a beta of 0.40. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $365.29. The business’s 50 day moving average is $329.14 and its two-hundred day moving average is $324.08. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The business had revenue of $14.93 billion during the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. On average, research analysts predict that Chubb Limited will post 26.77 EPS for the current year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were paid a dividend of $1.02 per share. The ex-dividend date was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. This is an increase from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio (DPR) is currently 14.41%.

Chubb Profile

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.