Chubb Limited (NYSE:CB) Stock Holdings Lessened by Park Place Capital Corp

Park Place Capital Corp lowered its position in Chubb Limited (NYSE:CB) by 38.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 183 shares of the financial services provider’s stock after selling 112 shares during the period. Park Place Capital Corp’s holdings in Chubb were worth $47,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Chubb by 0.8% in the third quarter. Wellington Management Group LLP now owns 18,522,413 shares of the financial services provider’s stock worth $3,855,996,000 after buying an additional 138,142 shares during the last quarter. Capital World Investors lifted its position in Chubb by 0.4% in the fourth quarter. Capital World Investors now owns 10,311,415 shares of the financial services provider’s stock worth $2,330,272,000 after purchasing an additional 43,845 shares during the period. Norges Bank bought a new position in shares of Chubb during the fourth quarter valued at $957,756,000. Raymond James & Associates lifted its holdings in shares of Chubb by 2.6% during the fourth quarter. Raymond James & Associates now owns 3,103,101 shares of the financial services provider’s stock valued at $701,301,000 after acquiring an additional 77,453 shares during the period. Finally, Ontario Teachers Pension Plan Board increased its stake in shares of Chubb by 0.9% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 2,698,582 shares of the financial services provider’s stock valued at $609,880,000 after buying an additional 24,323 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CB shares. JMP Securities restated a “market outperform” rating and issued a $280.00 target price on shares of Chubb in a research note on Monday, April 15th. StockNews.com lowered Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. HSBC restated a “hold” rating and issued a $270.00 target price (down from $275.00) on shares of Chubb in a research note on Thursday, April 4th. Keefe, Bruyette & Woods lowered their price objective on Chubb from $297.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $282.00 price objective on shares of Chubb in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $266.70.

Chubb Price Performance

Chubb stock opened at $254.76 on Tuesday. The firm has a market capitalization of $103.45 billion, a P/E ratio of 11.31, a PEG ratio of 6.16 and a beta of 0.66. Chubb Limited has a 1 year low of $186.52 and a 1 year high of $275.41. The business has a 50-day moving average of $259.30 and a 200-day moving average of $248.79. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The company had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same period in the previous year, the company earned $4.41 EPS. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts anticipate that Chubb Limited will post 21.03 EPS for the current year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, June 14th. This is a boost from Chubb’s previous quarterly dividend of $0.86. Chubb’s payout ratio is 16.16%.

Insider Activity

In other news, EVP Juan Luis Ortega sold 2,400 shares of Chubb stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $260.98, for a total transaction of $626,352.00. Following the transaction, the executive vice president now owns 44,632 shares in the company, valued at approximately $11,648,059.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Chubb news, Director Michael G. Atieh sold 716 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $269.70, for a total value of $193,105.20. Following the sale, the director now owns 39,295 shares in the company, valued at approximately $10,597,861.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Juan Luis Ortega sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $260.98, for a total value of $626,352.00. Following the completion of the sale, the executive vice president now owns 44,632 shares in the company, valued at approximately $11,648,059.36. The disclosure for this sale can be found here. Insiders have sold 47,552 shares of company stock worth $12,149,985 in the last 90 days. Corporate insiders own 0.86% of the company’s stock.

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.