Conning Inc. Boosts Holdings in Chubb Limited (NYSE:CB)

Conning Inc. raised its stake in shares of Chubb Limited (NYSE:CB) by 30.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,932 shares of the financial services provider’s stock after buying an additional 929 shares during the period. Conning Inc.’s holdings in Chubb were worth $1,134,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CB. Private Advisor Group LLC raised its position in Chubb by 9.2% during the first quarter. Private Advisor Group LLC now owns 10,603 shares of the financial services provider’s stock worth $2,747,000 after acquiring an additional 893 shares during the period. Diversify Advisory Services LLC purchased a new stake in Chubb in the 1st quarter valued at $445,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Chubb by 16.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock worth $19,448,000 after acquiring an additional 10,745 shares during the last quarter. CNB Bank raised its holdings in shares of Chubb by 11.1% during the 1st quarter. CNB Bank now owns 492 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 49 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Chubb by 11.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 43,222 shares of the financial services provider’s stock worth $11,200,000 after acquiring an additional 4,373 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CB. Jefferies Financial Group raised their price objective on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Piper Sandler raised their price target on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Morgan Stanley upped their price objective on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday. Barclays assumed coverage on Chubb in a research note on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price for the company. Finally, Keefe, Bruyette & Woods upped their price target on Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $287.26.

Chubb Stock Performance

Shares of CB stock opened at $277.41 on Friday. Chubb Limited has a 52 week low of $215.54 and a 52 week high of $302.05. The firm has a 50 day moving average of $288.23 and a two-hundred day moving average of $270.82. The company has a quick ratio of 0.31, a current ratio of 0.35 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $112.11 billion, a PE ratio of 11.36, a P/E/G ratio of 5.86 and a beta of 0.66.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. During the same period last year, the business posted $4.95 earnings per share. Chubb’s revenue was up 5.5% compared to the same quarter last year. On average, research analysts predict that Chubb Limited will post 21.42 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were paid a dividend of $0.91 per share. The ex-dividend date was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.31%. Chubb’s payout ratio is 14.91%.

Insider Activity at Chubb

In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Juan Luis Ortega sold 3,921 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the transaction, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at $12,187,213.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,636 shares of company stock valued at $24,874,208 over the last 90 days. 0.86% of the stock is owned by corporate insiders.

Chubb Profile

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.