Chubb Limited $CB Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Chubb Limited (NYSE:CB) by 74.3% during the 1st quarter, HoldingsChannel reports. The firm owned 3,420,692 shares of the financial services provider’s stock after buying an additional 1,457,992 shares during the period. Bank of New York Mellon Corp’s holdings in Chubb were worth $1,114,906,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. MASTERINVEST Kapitalanlage GmbH grew its position in shares of Chubb by 5.4% in the first quarter. MASTERINVEST Kapitalanlage GmbH now owns 20,389 shares of the financial services provider’s stock valued at $6,645,000 after purchasing an additional 1,051 shares in the last quarter. Ethos Financial Group LLC lifted its position in Chubb by 44.2% during the first quarter. Ethos Financial Group LLC now owns 1,552 shares of the financial services provider’s stock worth $507,000 after buying an additional 476 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in Chubb by 10.6% during the first quarter. Checchi Capital Advisers LLC now owns 3,455 shares of the financial services provider’s stock worth $1,126,000 after buying an additional 332 shares during the last quarter. Hartford Funds Management Co LLC boosted its stake in Chubb by 2.4% during the first quarter. Hartford Funds Management Co LLC now owns 3,684 shares of the financial services provider’s stock worth $1,201,000 after buying an additional 88 shares during the last quarter. Finally, Avantax Planning Partners Inc. grew its holdings in Chubb by 5.5% in the 1st quarter. Avantax Planning Partners Inc. now owns 850 shares of the financial services provider’s stock valued at $277,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CB shares. Citizens Jmp raised their target price on Chubb from $365.00 to $400.00 and gave the stock a “market outperform” rating in a research note on Friday, July 10th. Citigroup reissued an “outperform” rating on shares of Chubb in a research report on Friday, July 10th. Wolfe Research upped their price objective on shares of Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Piper Sandler raised 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Chubb from $304.00 to $330.00 and gave the stock a “hold” rating in a research note on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Chubb presently has a consensus rating of “Hold” and an average target price of $357.73.

Chubb Price Performance

Chubb stock opened at $337.06 on Thursday. The company’s 50 day simple moving average is $331.24 and its 200-day simple moving average is $325.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $365.29. The company has a market capitalization of $130.73 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 1.77 and a beta of 0.40.

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. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The firm had revenue of $14.93 billion during the quarter. As a group, equities research analysts expect that Chubb Limited will post 26.76 earnings per share for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were given a dividend of $1.02 per share. This is an increase from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, June 12th. Chubb’s dividend payout ratio (DPR) is 14.41%.

Chubb Company 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.