Chubb Limited (NYSE:CB) Position Boosted by Greenfield Savings Bank

Greenfield Savings Bank raised its position in shares of Chubb Limited (NYSE:CB) by 27.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,423 shares of the financial services provider’s stock after buying an additional 517 shares during the quarter. Greenfield Savings Bank’s holdings in Chubb were worth $699,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. ORG Partners LLC bought a new position in Chubb in the second quarter worth $963,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Chubb by 16.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock valued at $19,448,000 after acquiring an additional 10,745 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Chubb during the 1st quarter worth approximately $984,000. Sierra Summit Advisors LLC bought a new stake in shares of Chubb during the 4th quarter worth approximately $844,000. Finally, Leuthold Group LLC acquired a new position in shares of Chubb during the 1st quarter worth approximately $3,033,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Performance

CB stock opened at $277.18 on Tuesday. The company has a market cap of $112.55 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 5.74 and a beta of 0.66. Chubb Limited has a 1 year low of $205.64 and a 1 year high of $294.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The stock’s fifty day moving average price is $281.24 and its 200-day moving average price is $265.87.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.34. The company had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. Chubb’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.92 earnings per share. On average, equities analysts forecast that Chubb Limited will post 21.21 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.31%. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

Insider Activity

In other news, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the sale, the executive vice president now directly owns 44,632 shares in the company, valued at $12,187,213.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,636 shares of company stock worth $24,874,208 over the last ninety days. Corporate insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CB. Bank of America lowered Chubb from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $264.00 to $275.00 in a report on Friday. JMP Securities raised their target price on Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their price objective on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Roth Mkm upped their target price on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler increased their price objective on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $280.22.

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.