Gabelli Funds LLC Decreases Holdings in Chubb Limited (NYSE:CB)

Gabelli Funds LLC lowered its stake in Chubb Limited (NYSE:CBFree Report) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,105 shares of the financial services provider’s stock after selling 500 shares during the period. Gabelli Funds LLC’s holdings in Chubb were worth $2,058,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CB. Lazard Asset Management LLC lifted its holdings in shares of Chubb by 978.1% in the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock worth $113,781,000 after acquiring an additional 495,860 shares during the last quarter. Alphinity Investment Management Pty Ltd lifted its stake in Chubb by 155.8% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock worth $120,235,000 after purchasing an additional 324,019 shares during the last quarter. ING Groep NV boosted its position in shares of Chubb by 175,378.1% during the fourth quarter. ING Groep NV now owns 112,306 shares of the financial services provider’s stock valued at $25,381,000 after buying an additional 112,242 shares during the period. Graypoint LLC boosted its position in shares of Chubb by 1,275.7% during the fourth quarter. Graypoint LLC now owns 31,599 shares of the financial services provider’s stock valued at $7,141,000 after buying an additional 29,302 shares during the period. Finally, BKM Wealth Management LLC bought a new position in shares of Chubb during the fourth quarter valued at approximately $1,403,000. 83.81% of the stock is owned by institutional investors.

Chubb Stock Up 1.3 %

NYSE:CB opened at $267.22 on Monday. The company’s 50-day simple moving average is $255.30 and its 200-day simple moving average is $244.92. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. Chubb Limited has a fifty-two week low of $183.71 and a fifty-two week high of $275.41. The stock has a market capitalization of $108.51 billion, a P/E ratio of 11.86, a P/E/G ratio of 4.36 and a beta of 0.66.

Chubb (NYSE:CBGet Free Report) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the prior year, the company posted $4.41 earnings per share. Chubb’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 21.23 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.36%. This is an increase from Chubb’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, June 14th. Chubb’s payout ratio is 15.27%.

Analyst Upgrades and Downgrades

CB has been the subject of a number of recent analyst reports. HSBC restated a “hold” rating and set a $270.00 price objective (down previously from $275.00) on shares of Chubb in a report on Thursday, April 4th. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $253.00 to $266.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. The Goldman Sachs Group raised their price target on shares of Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Piper Sandler reissued an “overweight” rating and issued a $282.00 price objective on shares of Chubb in a research report on Monday, April 1st. Finally, Royal Bank of Canada reduced their target price on shares of Chubb from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $266.70.

Read Our Latest Stock Analysis on CB

Insider Activity at Chubb

In other Chubb news, COO John W. Keogh sold 34,707 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total value of $8,745,469.86. Following the completion of the sale, the chief operating officer now owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Chubb news, COO John W. Keogh sold 34,707 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the transaction, the chief operating officer now owns 284,136 shares in the company, valued at approximately $71,596,589.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph F. Wayland sold 26,946 shares of Chubb stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.02, for a total transaction of $6,925,660.92. Following the sale, the executive vice president now owns 95,252 shares of the company’s stock, valued at $24,481,669.04. The disclosure for this sale can be found here. Insiders have sold 115,065 shares of company stock valued at $29,518,703 in the last ninety days. Corporate insiders own 0.86% of the company’s stock.

Chubb Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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