Charles Schwab Investment Management Inc. Trims Stake in Chubb Limited (NYSE:CB)

Charles Schwab Investment Management Inc. lessened its holdings in shares of Chubb Limited (NYSE:CBFree Report) by 6.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,189,087 shares of the financial services provider’s stock after selling 140,012 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Chubb were worth $631,311,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. L & S Advisors Inc purchased a new position in Chubb during the 3rd quarter worth $8,623,000. Smithfield Trust Co grew its position in shares of Chubb by 14.3% during the 3rd quarter. Smithfield Trust Co now owns 1,446 shares of the financial services provider’s stock worth $417,000 after buying an additional 181 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Chubb by 13.1% during the third quarter. Pacer Advisors Inc. now owns 43,032 shares of the financial services provider’s stock valued at $12,410,000 after buying an additional 4,980 shares during the period. Thompson Siegel & Walmsley LLC raised its holdings in shares of Chubb by 5.6% in the third quarter. Thompson Siegel & Walmsley LLC now owns 2,371 shares of the financial services provider’s stock valued at $684,000 after acquiring an additional 125 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in Chubb by 5.4% in the third quarter. LPL Financial LLC now owns 348,679 shares of the financial services provider’s stock worth $100,556,000 after acquiring an additional 17,934 shares during the period. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CB. Piper Sandler raised their target price on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Evercore ISI lifted their price objective on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JMP Securities boosted their target price on shares of Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Finally, Bank of America raised their price target on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Chubb presently has an average rating of “Hold” and a consensus price target of $287.37.

Get Our Latest Report on CB

Insider Buying and Selling

In related news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the sale, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at $160,341,094.40. This represents a 5.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John J. Lupica sold 15,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the sale, the insider now owns 103,950 shares of the company’s stock, valued at $29,676,685.50. This trade represents a 12.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,715 shares of company stock valued at $23,803,540 in the last three months. 0.86% of the stock is owned by corporate insiders.

Chubb Trading Up 0.9 %

Shares of CB stock opened at $285.35 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $287.54 and its 200-day moving average price is $274.03. Chubb Limited has a twelve month low of $216.90 and a twelve month high of $302.05. The stock has a market cap of $115.02 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 6.62 and a beta of 0.67.

Chubb (NYSE:CBGet Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. Chubb’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.95 EPS. As a group, equities analysts predict that Chubb Limited will post 21.77 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.28%. Chubb’s dividend payout ratio is presently 14.91%.

Chubb Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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