ProShare Advisors LLC Has $185.05 Million Position in Chubb Limited $CB

ProShare Advisors LLC lessened its stake in Chubb Limited (NYSE:CB) by 11.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 638,715 shares of the financial services provider’s stock after selling 84,291 shares during the quarter. ProShare Advisors LLC’s holdings in Chubb were worth $185,049,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Modern Wealth Management LLC grew its holdings in Chubb by 6.2% in the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock valued at $744,000 after buying an additional 143 shares during the last quarter. Assetmark Inc. boosted its position in shares of Chubb by 14.1% in the second quarter. Assetmark Inc. now owns 71,294 shares of the financial services provider’s stock valued at $20,655,000 after acquiring an additional 8,828 shares during the period. Trifecta Capital Advisors LLC grew its stake in shares of Chubb by 764.7% in the second quarter. Trifecta Capital Advisors LLC now owns 147 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 130 shares during the last quarter. Jump Financial LLC increased its position in Chubb by 633.6% during the first quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider’s stock worth $2,470,000 after acquiring an additional 7,065 shares during the period. Finally, Legato Capital Management LLC raised its stake in Chubb by 120.9% during the 1st quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider’s stock valued at $3,080,000 after purchasing an additional 5,582 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of CB stock opened at $287.45 on Monday. The stock’s fifty day simple moving average is $278.79 and its 200 day simple moving average is $280.54. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The firm has a market cap of $113.13 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 2.74 and a beta of 0.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.28.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company had revenue of $14.87 billion during the quarter, compared to analysts’ expectations of $12.95 billion. During the same period last year, the business earned $5.72 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. On average, analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.3%. Chubb’s dividend payout ratio (DPR) is presently 16.19%.

Insider Activity

In other news, insider John J. Lupica sold 23,698 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $281.00, for a total value of $6,659,138.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CB. Evercore ISI raised their price target on shares of Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Morgan Stanley reduced their target price on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research note on Monday, August 18th. Piper Sandler reissued a “neutral” rating and set a $283.00 target price (down from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Jefferies Financial Group boosted their price target on Chubb from $297.00 to $302.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on Chubb from $333.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $307.79.

Chubb Company 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.