Alliancebernstein L.P. Acquires 159,946 Shares of Chubb Limited $CB

Alliancebernstein L.P. lifted its holdings in shares of Chubb Limited (NYSE:CB) by 24.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 801,550 shares of the financial services provider’s stock after purchasing an additional 159,946 shares during the quarter. Alliancebernstein L.P. owned approximately 0.20% of Chubb worth $226,237,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CB. Mitchell & Pahl Private Wealth LLC lifted its holdings in Chubb by 0.5% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 7,381 shares of the financial services provider’s stock worth $2,083,000 after purchasing an additional 35 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Chubb by 7.4% in the third quarter. Golden State Wealth Management LLC now owns 525 shares of the financial services provider’s stock worth $148,000 after buying an additional 36 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Chubb by 26.1% during the 3rd quarter. Covestor Ltd now owns 179 shares of the financial services provider’s stock worth $51,000 after buying an additional 37 shares during the period. CENTRAL TRUST Co boosted its holdings in shares of Chubb by 1.0% during the 3rd quarter. CENTRAL TRUST Co now owns 3,573 shares of the financial services provider’s stock worth $1,008,000 after buying an additional 37 shares during the period. Finally, JT Stratford LLC grew its stake in Chubb by 3.5% in the 2nd quarter. JT Stratford LLC now owns 1,127 shares of the financial services provider’s stock valued at $327,000 after buying an additional 38 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In related news, EVP Timothy Alan Boroughs sold 27,817 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the sale, the executive vice president owned 11,810 shares of the company’s stock, valued at $3,920,683.80. This trade represents a 70.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Evan G. Greenberg sold 15,060 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total value of $4,991,938.20. Following the sale, the chief executive officer owned 511,576 shares of the company’s stock, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their position. The SEC filing for this sale provides additional information. 0.86% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CB has been the topic of several research analyst reports. Piper Sandler raised their price target on Chubb from $283.00 to $319.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods boosted their price objective on Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Wolfe Research increased their target price on Chubb from $364.00 to $372.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Wells Fargo & Company raised their target price on Chubb from $305.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $350.00 price target on shares of Chubb in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $340.81.

Chubb Trading Down 0.1%

Shares of Chubb stock opened at $329.24 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. The company’s fifty day moving average price is $319.55 and its two-hundred day moving average price is $299.76. The firm has a market capitalization of $128.45 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 2.06 and a beta of 0.46. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, beating the consensus estimate of $6.33 by $1.19. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $11.11 billion. Chubb had a return on equity of 13.15% and a net margin of 17.36%.Chubb’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.02 EPS. On average, analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, March 13th. Chubb’s dividend payout ratio is 15.08%.

Chubb Profile

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.