Sei Investments Co. Sells 17,025 Shares of Chubb Limited (NYSE:CB)

Sei Investments Co. lessened its position in Chubb Limited (NYSE:CBFree Report) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 219,822 shares of the financial services provider’s stock after selling 17,025 shares during the quarter. Sei Investments Co. owned 0.05% of Chubb worth $49,679,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Chubb during the fourth quarter valued at approximately $957,756,000. Bank of Nova Scotia boosted its holdings in Chubb by 198.8% during the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after acquiring an additional 518,535 shares during the period. Lazard Asset Management LLC boosted its holdings in Chubb by 978.1% during the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock valued at $113,781,000 after acquiring an additional 495,860 shares during the period. International Assets Investment Management LLC grew its position in Chubb by 19,454.2% in the 4th quarter. International Assets Investment Management LLC now owns 485,336 shares of the financial services provider’s stock valued at $1,096,860,000 after acquiring an additional 482,854 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in Chubb in the fourth quarter worth $97,207,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Up 0.2 %

NYSE:CB opened at $267.85 on Tuesday. The firm has a market capitalization of $108.76 billion, a P/E ratio of 11.89, a PEG ratio of 4.36 and a beta of 0.66. The company’s fifty day moving average price is $255.51 and its 200-day moving average price is $245.21. Chubb Limited has a 1-year low of $183.71 and a 1-year high of $275.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CBGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. The business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $4.41 EPS. As a group, equities research analysts anticipate that Chubb Limited will post 21.23 EPS for the current year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a $0.91 dividend. The ex-dividend date is Friday, June 14th. This is an increase from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 dividend on an annualized basis and a yield of 1.36%. Chubb’s payout ratio is presently 16.16%.

Analyst Ratings Changes

A number of research firms have recently commented on CB. Piper Sandler restated an “overweight” rating and issued a $282.00 price target on shares of Chubb in a report on Monday, April 1st. Bank of America raised shares of Chubb from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $244.00 to $266.00 in a research report on Thursday, May 23rd. JPMorgan Chase & Co. boosted their price target on Chubb from $253.00 to $266.00 and gave the company a “neutral” rating in a report on Monday, April 8th. The Goldman Sachs Group raised their price objective on Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Citigroup reissued a “neutral” rating and set a $275.00 target price (up previously from $238.00) on shares of Chubb in a research report on Thursday, March 14th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.70.

Read Our Latest Research Report on CB

Insiders Place Their Bets

In related news, COO John W. Keogh sold 34,707 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total value of $8,745,469.86. Following the completion of the transaction, the chief operating officer now directly owns 284,136 shares in the company, valued at approximately $71,596,589.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Joseph F. Wayland sold 26,946 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $257.02, for a total value of $6,925,660.92. Following the completion of the sale, the executive vice president now directly owns 95,252 shares in the company, valued at $24,481,669.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John W. Keogh sold 34,707 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,065 shares of company stock worth $29,518,703. Corporate insiders own 0.86% of the company’s stock.

About Chubb

(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.

See Also

Institutional Ownership by Quarter for Chubb (NYSE:CB)

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