Linscomb Wealth Inc. Sells 165 Shares of Chubb Limited $CB

Linscomb Wealth Inc. cut its stake in Chubb Limited (NYSE:CB) by 9.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,554 shares of the financial services provider’s stock after selling 165 shares during the quarter. Linscomb Wealth Inc.’s holdings in Chubb were worth $450,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CB. GQG Partners LLC boosted its stake in Chubb by 112.1% in the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after purchasing an additional 4,964,298 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Chubb by 6.9% in the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after buying an additional 304,751 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 valued at $840,756,000 after acquiring an additional 30,334 shares during the period. Nuveen LLC purchased a new position in Chubb during the first quarter valued at approximately $562,221,000. Finally, AQR Capital Management LLC grew its stake in Chubb by 19.6% during the first quarter. AQR Capital Management LLC now owns 1,410,449 shares of the financial services provider’s stock valued at $423,826,000 after acquiring an additional 231,404 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CB. Weiss Ratings reiterated a “buy (b)” rating on shares of Chubb in a research note on Wednesday, October 8th. Barclays upped their price target on shares of Chubb from $298.00 to $310.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Citigroup lifted their price objective on Chubb from $326.00 to $331.00 and gave the company a “buy” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. boosted their target price on Chubb from $321.00 to $327.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $283.00 price target (down previously from $335.00) on shares of Chubb in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $307.79.

Chubb Price Performance

Shares of Chubb stock opened at $277.13 on Friday. The firm has a market capitalization of $109.07 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 2.74 and a beta of 0.54. The company has a current ratio of 0.27, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The business’s 50-day moving average price is $277.80 and its 200-day moving average price is $280.67.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.51 by $1.98. The business had revenue of $14.87 billion during 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%.Chubb’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.72 earnings per share. Sell-side analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb’s dividend payout ratio (DPR) is presently 16.19%.

Insiders Place Their Bets

In other Chubb news, insider John J. Lupica sold 23,698 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $281.00, for a total value of $6,659,138.00. Following the completion of the sale, the insider directly owned 90,600 shares of the company’s stock, valued at $25,458,600. The trade was a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.77% of the stock is owned by corporate insiders.

About Chubb

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.