Allspring Global Investments Holdings LLC Purchases 88,971 Shares of Chubb Limited $CB

Allspring Global Investments Holdings LLC raised its position in shares of Chubb Limited (NYSE:CB) by 340.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,140 shares of the financial services provider’s stock after buying an additional 88,971 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Chubb were worth $35,700,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Berkshire Hathaway Inc grew its position in Chubb by 15.9% in the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock worth $8,843,710,000 after acquiring an additional 4,299,111 shares in the last quarter. State Street Corp boosted its stake in shares of Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after purchasing an additional 68,553 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Chubb by 9.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock worth $1,426,475,000 after purchasing an additional 427,512 shares during the period. Bank of America Corp DE grew its holdings in Chubb by 11.6% during the 2nd 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. Finally, AQR Capital Management LLC raised its position in Chubb by 75.1% in the 3rd quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock worth $785,468,000 after purchasing an additional 1,199,963 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CB shares. Deutsche Bank Aktiengesellschaft increased their target price on Chubb from $304.00 to $330.00 and gave the stock a “hold” rating in a research note on Monday, March 23rd. Bank of America lowered their target price on shares of Chubb from $279.00 to $259.00 and set an “underperform” rating for the company in a research note on Friday, January 16th. Wolfe Research upped their price target on shares of Chubb from $364.00 to $372.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Roth Mkm lifted their price target on shares of Chubb from $330.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Finally, Mizuho boosted their price target on Chubb from $317.00 to $336.00 and gave the company a “neutral” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $342.14.

Chubb Stock Performance

Shares of NYSE:CB opened at $328.55 on Friday. The firm has a 50 day moving average of $325.53 and a 200 day moving average of $304.16. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $128.21 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 1.74 and a beta of 0.49. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $345.67.

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

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Stockholders 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 dividend yield of 1.2%. The ex-dividend date is Friday, March 13th. Chubb’s dividend payout ratio (DPR) is currently 15.08%.

Insider Activity at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 15,060 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 511,576 shares in the company, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Olivier Steimer sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the sale, the director directly owned 25,468 shares of the company’s stock, valued at approximately $8,386,612.40. This represents a 7.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 44,877 shares of company stock valued at $14,885,226 over the last 90 days. Insiders own 0.77% of the company’s stock.

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.