Massachusetts Financial Services Co. MA Decreases Stake in Chubb Limited (NYSE:CB)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Chubb Limited (NYSE:CB) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,873,377 shares of the financial services provider’s stock after selling 849,137 shares during the period. Chubb makes up approximately 0.7% of Massachusetts Financial Services Co. MA’s portfolio, making the stock its 29th biggest holding. Massachusetts Financial Services Co. MA owned 1.95% of Chubb worth $2,175,414,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CB. Norges Bank purchased a new stake in shares of Chubb during the 4th quarter worth approximately $1,169,720,000. Raymond James Financial Inc. acquired a new position in Chubb during the fourth quarter worth $1,158,897,000. GQG Partners LLC boosted its position in Chubb by 36.3% during the fourth quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock worth $1,223,932,000 after purchasing an additional 1,178,628 shares in the last quarter. Beutel Goodman & Co Ltd. grew its holdings in Chubb by 1,007,698.0% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 1,007,798 shares of the financial services provider’s stock valued at $278,454,000 after purchasing an additional 1,007,698 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of Chubb by 41,494.7% in the fourth quarter. Proficio Capital Partners LLC now owns 812,761 shares of the financial services provider’s stock valued at $224,566,000 after buying an additional 810,807 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Down 0.1 %

CB opened at $301.54 on Wednesday. The stock has a market capitalization of $120.74 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. Chubb Limited has a 12 month low of $238.85 and a 12 month high of $304.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. The business has a 50-day moving average of $280.57 and a two-hundred day moving average of $281.60.

Chubb (NYSE:CB) last released its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. On average, research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, March 14th. Chubb’s dividend payout ratio (DPR) is currently 16.02%.

Insider Activity at Chubb

In related news, EVP Timothy Alan Boroughs sold 14,748 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the sale, the executive vice president now directly owns 29,194 shares in the company, valued at approximately $8,644,927.28. This trade represents a 33.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total value of $2,869,600.00. Following the transaction, the executive vice president now directly owns 77,703 shares in the company, valued at $22,297,652.88. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,470 shares of company stock worth $18,562,730. 0.86% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wells Fargo & Company lowered their price target on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective on Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. JMP Securities reiterated a “market outperform” rating and set a $325.00 target price on shares of Chubb in a report on Wednesday, January 29th. Finally, Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Chubb currently has an average rating of “Hold” and an average price target of $303.14.

Chubb Company 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.