Allworth Financial LP Raises Holdings in Chubb Limited $CB

Allworth Financial LP grew its holdings in Chubb Limited (NYSE:CB) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,280 shares of the financial services provider’s stock after buying an additional 2,711 shares during the quarter. Allworth Financial LP’s holdings in Chubb were worth $19,836,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its position in Chubb by 93.6% in the third quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 44 shares in the last quarter. Cedar Mountain Advisors LLC boosted its position in shares of Chubb by 155.6% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Chubb during the 3rd quarter worth $31,000. VSM Wealth Advisory LLC purchased a new position in shares of Chubb in the 2nd quarter valued at about $32,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Chubb by 81.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Transactions at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 15,060 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the sale, the chief executive officer directly owned 511,576 shares of the company’s stock, valued at $169,572,096.72. This trade represents a 2.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the business’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 transaction of $9,234,687.66. Following the completion of the transaction, the executive vice president directly owned 11,810 shares of the company’s stock, valued at approximately $3,920,683.80. This represents a 70.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Chubb from $283.00 to $319.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Mizuho lifted their price target on shares of Chubb from $317.00 to $336.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Morgan Stanley set a $350.00 price target on Chubb in a research note on Friday, January 16th. Raymond James Financial upped their price target on Chubb from $340.00 to $380.00 and gave the stock a “strong-buy” rating in a report on Monday, February 9th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $366.00 price objective on shares of Chubb in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $340.81.

Chubb Price Performance

CB stock opened at $328.22 on Thursday. The stock’s 50 day moving average price is $320.71 and its 200 day moving average price is $300.75. The firm has a market cap of $128.06 billion, a P/E ratio of 12.76, a PEG ratio of 2.07 and a beta of 0.46. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $11.11 billion. During the same period in the previous year, the firm posted $6.02 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, sell-side analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date 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.