Allspring Global Investments Holdings LLC Has $7.36 Million Stake in Chubb Limited $CB

Allspring Global Investments Holdings LLC reduced its holdings in Chubb Limited (NYSE:CB) by 14.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,169 shares of the financial services provider’s stock after selling 4,576 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Chubb were worth $7,364,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in Chubb by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 36,738,895 shares of the financial services provider’s stock valued at $10,643,993,000 after buying an additional 210,053 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Chubb by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 8,810,780 shares of the financial services provider’s stock worth $2,541,771,000 after acquiring an additional 30,721 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after purchasing an additional 513,852 shares during the last quarter. Norges Bank acquired a new stake in shares of Chubb in the second quarter valued at approximately $1,195,137,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Chubb by 1.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider’s stock worth $840,756,000 after purchasing an additional 30,334 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of NYSE CB opened at $309.43 on Wednesday. The firm has a market cap of $121.78 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 3.30 and a beta of 0.51. The business’s 50 day moving average is $299.51 and its 200-day moving average is $284.88. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $316.94.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. The firm had revenue of $16.15 billion for the quarter, compared to analyst estimates of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $5.72 EPS. Equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.3%. Chubb’s payout ratio is 16.19%.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 16,375 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $296.45, for a total transaction of $4,854,368.75. Following the completion of the transaction, the insider directly owned 74,225 shares in the company, valued at $22,004,001.25. This represents a 18.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph F. Wayland sold 5,830 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the completion of the transaction, the executive vice president directly owned 60,593 shares of the company’s stock, valued at approximately $18,000,968.44. The trade was a 8.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 57,333 shares of company stock valued at $16,629,873. 0.86% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on CB shares. Bank of America lifted their target price on Chubb from $276.00 to $279.00 and gave the company an “underperform” rating in a research report on Monday, October 13th. HSBC boosted their price target on Chubb from $302.00 to $304.00 in a research report on Wednesday, October 29th. Citigroup increased their price objective on Chubb from $331.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Wolfe Research raised their target price on shares of Chubb from $336.00 to $364.00 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $283.00 price target on shares of Chubb in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $312.90.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.