Sit Investment Associates Inc. Has $31.08 Million Holdings in Chubb Limited (NYSE:CB)

Sit Investment Associates Inc. decreased its holdings in shares of Chubb Limited (NYSE:CB) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,499 shares of the financial services provider’s stock after selling 3,675 shares during the quarter. Chubb comprises approximately 0.7% of Sit Investment Associates Inc.’s investment portfolio, making the stock its 29th biggest holding. Sit Investment Associates Inc.’s holdings in Chubb were worth $31,083,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CB. Vanguard Group Inc. boosted its holdings in Chubb by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider’s stock worth $10,072,097,000 after buying an additional 271,648 shares during the last quarter. GQG Partners LLC raised its position in shares of Chubb by 36.3% in the 4th quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock valued at $1,223,932,000 after acquiring an additional 1,178,628 shares during the period. Norges Bank bought a new position in 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 valued at approximately $1,158,897,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Chubb by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,235,155 shares of the financial services provider’s stock valued at $617,573,000 after purchasing an additional 46,068 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CB has been the topic of a number of recent analyst reports. Barclays reduced their price target on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company decreased their target price on Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective on Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods increased their target price on Chubb from $328.00 to $329.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Piper Sandler lifted their price target on shares of Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $303.14.

Insiders Place Their Bets

In related news, 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 transaction of $2,869,600.00. Following the transaction, the executive vice president now directly owns 77,703 shares of the company’s stock, valued at approximately $22,297,652.88. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the sale, the executive vice president now directly owns 29,194 shares of the company’s stock, valued at $8,644,927.28. This represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is currently owned by corporate insiders.

Chubb Trading Down 7.2 %

Shares of NYSE:CB opened at $280.74 on Friday. The company’s 50-day moving average price is $282.25 and its two-hundred day moving average price is $281.81. Chubb Limited has a one year low of $238.85 and a one year high of $306.91. 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 stock has a market capitalization of $112.41 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66.

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

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.30%. Chubb’s payout ratio is 16.02%.

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.