Chubb Limited $CB Stock Holdings Lowered by ProShare Advisors LLC

ProShare Advisors LLC lessened its stake in Chubb Limited (NYSE:CB) by 2.1% in the third quarter, Holdings Channel reports. The firm owned 552,525 shares of the financial services provider’s stock after selling 11,876 shares during the quarter. ProShare Advisors LLC’s holdings in Chubb were worth $179,709,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CB. Vise Technologies Inc. grew its position in Chubb by 25.1% during the 3rd quarter. Vise Technologies Inc. now owns 53,862 shares of the financial services provider’s stock worth $17,519,000 after acquiring an additional 10,818 shares during the last quarter. Investment Partners LTD. bought a new position in Chubb in the third quarter valued at about $390,000. Unison Advisors LLC raised its position in Chubb by 0.3% in the third quarter. Unison Advisors LLC now owns 13,799 shares of the financial services provider’s stock valued at $4,502,000 after purchasing an additional 37 shares during the last quarter. Invera Wealth Advisors LLC boosted its stake in shares of Chubb by 2.1% during the third quarter. Invera Wealth Advisors LLC now owns 3,222 shares of the financial services provider’s stock valued at $1,048,000 after purchasing an additional 66 shares in the last quarter. Finally, Sagace Wealth Management LLC bought a new stake in shares of Chubb during the third quarter worth about $394,000. Institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CB shares. Wells Fargo & Company lifted their target price on Chubb from $343.00 to $366.00 and gave the stock an “equal weight” rating in a report on Thursday, October 22nd. Keefe, Bruyette & Woods lowered their price objective on Chubb from $389.00 to $387.00 and set an “outperform” rating for the company in a research report on Monday, October 12th. Mizuho lifted their price objective on Chubb from $336.00 to $350.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. Piper Sandler upped their target price on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, TD Cowen increased their target price on shares of Chubb from $360.00 to $379.00 and gave the company a “hold” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Chubb has a consensus rating of “Hold” and an average price target of $362.78.

Insiders Place Their Bets

In related news, Director Michael P. Connors sold 5,500 shares of Chubb stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the transaction, the director owned 12,803 shares of the company’s stock, valued at $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Boroughs sold 13,596 shares of the company’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $356.77, for a total value of $4,850,644.92. Following the sale, the executive vice president owned 5,588 shares of the company’s stock, valued at $1,993,630.76. This trade represents a 70.87% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by company insiders.

Chubb Trading Up 0.5%

NYSE CB opened at $364.12 on Friday. The stock has a market capitalization of $139.12 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.69 and a beta of 0.36. The business has a 50 day simple moving average of $343.33 and a 200 day simple moving average of $333.76. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.28 and a quick ratio of 0.29. Chubb Limited has a one year low of $273.35 and a one year high of $369.00.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.89. The company had revenue of $16.20 billion for the quarter, compared to the consensus estimate of $15.66 billion. Chubb had a net margin of 18.15% and a return on equity of 14.41%. During the same quarter in the previous year, the company earned $7.49 EPS. Research analysts expect that Chubb Limited will post 28.82 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, September 11th. Chubb’s dividend payout ratio (DPR) is currently 14.28%.

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.