Chubb Limited $CB Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its stake in Chubb Limited (NYSE:CB) by 16.7% in the second quarter, Holdings Channel.com reports. The fund owned 3,068 shares of the financial services provider’s stock after selling 613 shares during the quarter. iA Global Asset Management Inc.’s holdings in Chubb were worth $889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MUFG Securities EMEA plc purchased a new stake in Chubb in the second quarter valued at $20,280,000. Versor Investments LP purchased a new stake in Chubb in the second quarter valued at $658,000. Accuvest Global Advisors purchased a new stake in Chubb in the second quarter valued at $226,000. American Institute for Advanced Investment Management LLP lifted its position in Chubb by 6.4% in the second quarter. American Institute for Advanced Investment Management LLP now owns 1,575 shares of the financial services provider’s stock valued at $465,000 after acquiring an additional 95 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in Chubb by 10.8% in the second quarter. GHP Investment Advisors Inc. now owns 885 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 86 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CB shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $300.00 price target on shares of Chubb in a research report on Monday, October 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Chubb in a research report on Wednesday, October 8th. Hsbc Global Res downgraded shares of Chubb from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Wolfe Research increased their target price on shares of Chubb from $320.00 to $336.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Finally, Piper Sandler reiterated a “neutral” rating and set a $283.00 target price (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $307.79.

Insider Transactions at Chubb

In related news, insider John J. Lupica sold 23,698 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $281.00, for a total transaction of $6,659,138.00. Following the completion of the transaction, the insider directly owned 90,600 shares of the company’s stock, valued at $25,458,600. This represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.77% of the stock is owned by corporate insiders.

Chubb Price Performance

Shares of CB opened at $278.03 on Tuesday. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The company has a market capitalization of $109.42 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.74 and a beta of 0.54. The firm has a 50-day simple moving average of $277.87 and a 200-day simple moving average of $280.56. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.27.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.51 by $1.98. The firm had revenue of $14.87 billion during the quarter, compared to analysts’ expectations of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $5.72 earnings per share. On average, equities research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb’s dividend payout ratio is currently 16.19%.

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.