Nisa Investment Advisors LLC Sells 2,551 Shares of Chubb Limited $CB

Nisa Investment Advisors LLC lowered its stake in Chubb Limited (NYSE:CB) by 4.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 57,681 shares of the financial services provider’s stock after selling 2,551 shares during the period. Nisa Investment Advisors LLC’s holdings in Chubb were worth $18,819,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CB. XXEC Inc. acquired a new stake in shares of Chubb during the 2nd quarter valued at $228,226,000. Berkshire Hathaway Inc bought a new stake in shares of Chubb during the 2nd quarter worth $11,670,067,000. BlackRock Inc. acquired a new position in shares of Chubb in the 2nd quarter worth $9,913,336,000. GQG Partners LLC acquired a new position in shares of Chubb in the 2nd quarter worth $4,250,113,000. Finally, Bank of America Corp DE acquired a new position in shares of Chubb in the 2nd quarter worth $1,545,084,000. Institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CB. Keefe, Bruyette & Woods cut their target price on Chubb from $389.00 to $387.00 and set an “outperform” rating on the stock in a research report on Monday, October 12th. The Goldman Sachs Group lifted their price target on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Piper Sandler lifted their price target on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Wells Fargo & Company cut their price objective on Chubb from $356.00 to $343.00 and set an “equal weight” rating on the stock in a report on Monday, October 12th. Finally, JPMorgan Chase & Co. cut their price objective on Chubb from $374.00 to $371.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Chubb has an average rating of “Hold” and a consensus target price of $358.36.

Insiders Place Their Bets

In other news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Connors sold 5,500 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the transaction, the director directly owned 12,803 shares in the company, valued at $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.37% of the company’s stock.

Chubb Trading Down 0.8%

Chubb stock opened at $354.81 on Thursday. Chubb Limited has a 52 week low of $272.20 and a 52 week high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $136.89 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.57 and a beta of 0.36. The company has a 50 day moving average price of $341.06 and a 200 day moving average price of $337.07.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.89. Chubb had a net margin of 18.15% and a return on equity of 14.33%. The company had revenue of $16.20 billion for the quarter, compared to the consensus estimate of $15.71 billion. During the same period in the previous year, the business earned $7.49 EPS. Research analysts forecast that Chubb Limited will post 27.72 EPS for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were issued a dividend of $1.02 per share. The ex-dividend date was Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. Chubb’s payout ratio is currently 14.43%.

Key Headlines Impacting Chubb

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Quarterly results exceeded expectations. Chubb reported $7.66 in adjusted earnings per share, above the $6.79 consensus estimate, while revenue reached $16.20 billion versus expectations of $15.71 billion. Earnings also increased from $7.49 per share a year earlier. Chubb quarterly earnings report
• Positive Sentiment: Underlying business momentum remained strong. Core operating income totaled approximately $2.98 billion, overseas general property-and-casualty premiums grew 6.7%, and net premiums written increased. Record investment income and higher life-insurance income also helped offset pressure in underwriting. Chubb long-term investor takeaways
• Positive Sentiment: Analyst sentiment improved in one notable instance. Zacks upgraded Chubb to a Rank #2, or Buy, citing improved earnings prospects, which could support investor interest. Zacks Chubb upgrade
• Neutral Sentiment: Management maintained an upbeat outlook. The earnings call highlighted profitability, premium growth and continued benefits from investment income, but investors are evaluating whether the strong performance is already reflected in the share price. Chubb earnings call highlights
• Negative Sentiment: Catastrophe losses pressured underwriting results. Rising catastrophe claims remain a risk for future earnings and temper the otherwise strong quarter. Cantor Fitzgerald reaffirmed a Neutral rating with a $333 price target, below the stock’s recently reported $354.81 level, while another analysis said much of the strong Q3 performance may already be reflected in the valuation. Chubb valuation analysis

About Chubb

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.