Chubb Limited $CB Holdings Reduced by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its position in Chubb Limited (NYSE:CB) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,681 shares of the financial services provider’s stock after selling 2,551 shares during the period. Nisa Investment Advisors LLC’s holdings in Chubb were worth $18,819,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CB. Berkshire Hathaway Inc bought a new stake in shares of Chubb during the second quarter valued at approximately $11,670,067,000. BlackRock Inc. bought a new position in Chubb in the 2nd quarter worth approximately $9,913,336,000. GQG Partners LLC bought a new position in Chubb in the 2nd quarter worth approximately $4,250,113,000. Bank of America Corp DE grew its holdings in Chubb by 3.1% in the 1st quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider’s stock worth $1,599,868,000 after buying an additional 147,876 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Chubb by 74.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,420,692 shares of the financial services provider’s stock worth $1,114,906,000 after buying an additional 1,457,992 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

More Chubb News

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Quarterly results exceeded expectations. Chubb reported $7.66 in adjusted earnings per share, above the $6.79 consensus estimate, while revenue reached $16.20 billion versus expectations of $15.71 billion. Earnings also increased from $7.49 per share a year earlier. Chubb quarterly earnings report
• Positive Sentiment: Underlying business momentum remained strong. Core operating income totaled approximately $2.98 billion, overseas general property-and-casualty premiums grew 6.7%, and net premiums written increased. Record investment income and higher life-insurance income also helped offset pressure in underwriting. Chubb long-term investor takeaways
• Positive Sentiment: Analyst sentiment improved in one notable instance. Zacks upgraded Chubb to a Rank #2, or Buy, citing improved earnings prospects, which could support investor interest. Zacks Chubb upgrade
• Neutral Sentiment: Management maintained an upbeat outlook. The earnings call highlighted profitability, premium growth and continued benefits from investment income, but investors are evaluating whether the strong performance is already reflected in the share price. Chubb earnings call highlights
• Negative Sentiment: Catastrophe losses pressured underwriting results. Rising catastrophe claims remain a risk for future earnings and temper the otherwise strong quarter. Cantor Fitzgerald reaffirmed a Neutral rating with a $333 price target, below the stock’s recently reported $354.81 level, while another analysis said much of the strong Q3 performance may already be reflected in the valuation. Chubb valuation analysis

Wall Street Analyst Weigh In

Several research firms recently commented on CB. Barclays set a $387.00 target price on Chubb in a research report on Tuesday, July 7th. UBS Group boosted their price target on Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Chubb from a “buy (b)” rating to a “buy (a)” rating in a research note on Friday, October 16th. Keefe, Bruyette & Woods reduced their price objective on shares of Chubb from $389.00 to $387.00 and set an “outperform” rating for the company in a report on Monday, October 12th. Finally, Citigroup reiterated a “market outperform” rating on shares of Chubb in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $358.36.

Chubb Price Performance

Shares of NYSE:CB opened at $354.81 on Thursday. The stock has a market cap of $136.89 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.57 and a beta of 0.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. Chubb Limited has a 12 month low of $272.20 and a 12 month high of $365.91. The stock’s 50 day moving average price is $341.06 and its 200 day moving average price is $337.07.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, topping analysts’ consensus estimates of $6.77 by $0.89. Chubb had a return on equity of 14.33% and a net margin of 18.15%. The company had revenue of $16.20 billion for the quarter, compared to the consensus estimate of $15.71 billion. During the same quarter in the previous year, the business earned $7.49 EPS. Equities research analysts anticipate that Chubb Limited will post 27.72 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.1%. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Insider Transactions at Chubb

In related news, EVP Joseph F. Wayland sold 8,502 shares of Chubb 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 directly owned 33,749 shares of the company’s stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Connors sold 5,500 shares of the business’s stock in a transaction dated 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 sale, the director owned 12,803 shares in the company, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.

Chubb 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.