Federated Hermes Inc. Sells 21,157 Shares of Chubb Limited (NYSE:CB)

Federated Hermes Inc. trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,149 shares of the financial services provider’s stock after selling 21,157 shares during the period. Federated Hermes Inc.’s holdings in Chubb were worth $93,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CB. Deutsche Bank AG boosted its holdings in shares of Chubb by 426.8% in the 3rd quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock valued at $3,355,762,000 after buying an additional 13,059,385 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Chubb by 102,751.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,289,814 shares of the financial services provider’s stock valued at $1,828,733,000 after buying an additional 8,281,754 shares in the last quarter. Norges Bank bought a new stake in shares of Chubb in the 4th quarter valued at about $619,661,000. 1832 Asset Management L.P. boosted its holdings in shares of Chubb by 1,476.9% in the 4th quarter. 1832 Asset Management L.P. now owns 999,392 shares of the financial services provider’s stock valued at $220,466,000 after buying an additional 936,015 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Chubb by 978.1% in the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock valued at $113,781,000 after buying an additional 495,860 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Chubb Price Performance

NYSE:CB opened at $245.39 on Friday. Chubb Limited has a 1-year low of $183.71 and a 1-year high of $260.58. The firm has a market cap of $99.63 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.15 and a beta of 0.62. The company has a 50 day moving average price of $252.45 and a 200-day moving average price of $233.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last released its earnings results on Tuesday, January 30th. The financial services provider reported $8.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.07 by $3.23. Chubb had a net margin of 18.11% and a return on equity of 16.45%. The business had revenue of $13.38 billion during the quarter, compared to analyst estimates of $12.88 billion. Equities research analysts forecast that Chubb Limited will post 21.13 EPS for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Thursday, March 14th. Chubb’s payout ratio is 15.76%.

Insider Transactions at Chubb

In related news, EVP Timothy Alan Boroughs sold 14,303 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $258.78, for a total value of $3,701,330.34. Following the completion of the sale, the executive vice president now owns 35,662 shares of the company’s stock, valued at $9,228,612.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Timothy Alan Boroughs sold 14,303 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $258.78, for a total value of $3,701,330.34. Following the completion of the sale, the executive vice president now owns 35,662 shares of the company’s stock, valued at $9,228,612.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 26,946 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.02, for a total transaction of $6,925,660.92. Following the completion of the sale, the executive vice president now directly owns 95,252 shares of the company’s stock, valued at approximately $24,481,669.04. The disclosure for this sale can be found here. Insiders sold 116,043 shares of company stock valued at $29,766,694 over the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CB has been the subject of several research analyst reports. Evercore ISI increased their price objective on shares of Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Royal Bank of Canada increased their price objective on shares of Chubb from $255.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. BMO Capital Markets increased their price objective on shares of Chubb from $220.00 to $240.00 and gave the company a “market perform” rating in a research report on Monday, February 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $282.00 price objective on shares of Chubb in a research report on Monday, April 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $280.00 price objective on shares of Chubb in a research report on Monday. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $266.37.

Chubb Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.