Creative Planning Sells 9,180 Shares of Chubb Limited (NYSE:CB)

Creative Planning lessened its stake in Chubb Limited (NYSE:CB) by 6.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,140 shares of the financial services provider’s stock after selling 9,180 shares during the quarter. Creative Planning’s holdings in Chubb were worth $38,108,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Capital World Investors increased its stake in shares of Chubb by 6.6% in the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after acquiring an additional 685,677 shares during the last quarter. Capital Research Global Investors increased its stake in Chubb by 44.4% in the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after purchasing an additional 2,064,730 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Chubb by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after purchasing an additional 63,891 shares during the period. Legal & General Group Plc boosted its position in shares of Chubb by 2.9% during the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after purchasing an additional 104,986 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after buying an additional 457,881 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on Chubb from $255.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. lifted their price objective on Chubb from $290.00 to $291.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley decreased their price objective on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Bank of America raised their target price on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Finally, Piper Sandler upped their price target on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Chubb currently has a consensus rating of “Hold” and an average price target of $282.37.

Insider Activity

In related news, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the sale, the director now owns 39,172 shares in the company, valued at $11,261,558.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,636 shares of company stock valued at $24,874,208 over the last three months. Insiders own 0.86% of the company’s stock.

Chubb Price Performance

NYSE:CB opened at $301.66 on Monday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $284.79 and a 200 day simple moving average of $268.09. Chubb Limited has a 1-year low of $205.64 and a 1-year high of $302.05. The stock has a market capitalization of $122.49 billion, a PE ratio of 13.39, a P/E/G ratio of 5.87 and a beta of 0.66.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The company had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. During the same quarter last year, the firm posted $4.92 EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, research analysts expect that Chubb Limited will post 21.32 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were paid a $0.91 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.21%. Chubb’s dividend payout ratio is 16.16%.

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.