Allspring Global Investments Holdings LLC Has $8.90 Million Position in Chubb Limited $CB

Allspring Global Investments Holdings LLC reduced its holdings in Chubb Limited (NYSE:CB) by 51.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,745 shares of the financial services provider’s stock after selling 32,276 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Chubb were worth $8,903,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. North Capital Inc. acquired a new stake in Chubb in the first quarter worth $26,000. IMA Advisory Services Inc. acquired a new stake in Chubb in the first quarter worth $31,000. 1248 Management LLC acquired a new stake in Chubb in the first quarter worth $31,000. WPG Advisers LLC acquired a new stake in Chubb in the first quarter worth $33,000. Finally, Maseco LLP acquired a new stake in Chubb in the second quarter worth $35,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Chubb from $321.00 to $327.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Morgan Stanley cut their target price on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a report on Monday, August 18th. Cantor Fitzgerald upgraded shares of Chubb to a “hold” rating in a report on Wednesday, August 13th. Citigroup began coverage on shares of Chubb in a research report on Wednesday, August 13th. They set a “buy” rating and a $326.00 price objective for the company. Finally, UBS Group lowered their price objective on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Chubb has an average rating of “Hold” and an average price target of $305.28.

Insiders Place Their Bets

In other Chubb news, Director Michael Corbat bought 425 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.86% of the company’s stock.

Chubb Stock Down 0.0%

Shares of CB stock opened at $268.15 on Monday. The firm has a fifty day moving average of $277.40 and a 200-day moving average of $280.94. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The company has a market capitalization of $106.91 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 3.02 and a beta of 0.54.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $5.38 earnings per share. As a group, equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb’s dividend payout ratio (DPR) is 17.12%.

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.