Chubb Limited $CB Stock: Willis Investment Counsel Decreases Stake

Willis Investment Counsel cut its holdings in Chubb Limited (NYSE:CB) by 10.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 146,436 shares of the financial services provider’s stock after selling 16,439 shares during the quarter. Chubb makes up about 2.1% of Willis Investment Counsel’s investment portfolio, making the stock its 9th largest position. Willis Investment Counsel’s holdings in Chubb were worth $47,628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CB. Janney Montgomery Scott LLC grew its holdings in Chubb by 1.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock valued at $102,959,000 after buying an additional 5,225 shares in the last quarter. Equitable Holdings Inc. purchased a new position in shares of Chubb during the 2nd quarter worth $4,139,000. Berkshire Hathaway Inc purchased a new position in shares of Chubb during the 2nd quarter worth $11,670,067,000. XXEC Inc. purchased a new position in shares of Chubb during the 2nd quarter worth $26,210,000. Finally, Douglas Lane & Associates LLC boosted its position in shares of Chubb by 2,748.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 467,591 shares of the financial services provider’s stock valued at $152,084,000 after acquiring an additional 451,173 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CB has been the topic of a number of analyst reports. Cantor Fitzgerald lifted their target price on shares of Chubb from $330.00 to $333.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 7th. Piper Sandler increased their price target on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Barclays set a $387.00 price target on shares of Chubb in a research report on Tuesday, July 7th. Citigroup reaffirmed a “market outperform” rating on shares of Chubb in a research report on Wednesday, July 22nd. Finally, Atlantic Securities set a $301.00 price objective on Chubb in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $358.36.

Insider Activity

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Connors sold 5,500 shares of Chubb stock in a transaction dated 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 sale, the director owned 12,803 shares in the company, valued at $4,417,035. This trade represents a 30.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.37% of the company’s stock.

Chubb Stock Down 0.1%

Chubb stock traded down $0.48 during mid-day trading on Tuesday, hitting $355.79. The company had a trading volume of 694,842 shares, compared to its average volume of 1,703,462. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average of $340.62 and a 200 day moving average of $336.68. The stock has a market cap of $137.27 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.57 and a beta of 0.36. Chubb Limited has a 1 year low of $266.40 and a 1 year high of $365.91.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same period last year, the business earned $6.14 EPS. Chubb’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, sell-side analysts expect that Chubb Limited will post 27.72 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, September 11th. Chubb’s dividend payout ratio is currently 14.43%.

Chubb Company Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.