Massachusetts Financial Services Co. MA Decreases Holdings in Chubb Limited $CB

Massachusetts Financial Services Co. MA trimmed its position in shares of Chubb Limited (NYSE:CB) by 5.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,288,233 shares of the financial services provider’s stock after selling 437,122 shares during the quarter. Chubb accounts for approximately 0.7% of Massachusetts Financial Services Co. MA’s investment portfolio, making the stock its 29th largest position. Massachusetts Financial Services Co. MA’s holdings in Chubb were worth $2,111,547,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CB. Brighton Jones LLC increased its holdings in Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 221 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Chubb during the fourth quarter worth about $205,000. SBI Securities Co. Ltd. boosted its stake in shares of Chubb by 16.8% in the first quarter. SBI Securities Co. Ltd. now owns 563 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 81 shares during the period. Larson Financial Group LLC increased its stake in Chubb by 67.2% during the 1st quarter. Larson Financial Group LLC now owns 1,125 shares of the financial services provider’s stock worth $340,000 after buying an additional 452 shares during the period. Finally, Tributary Capital Management LLC grew its stake in shares of Chubb by 11.0% in the first quarter. Tributary Capital Management LLC now owns 1,870 shares of the financial services provider’s stock worth $565,000 after acquiring an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 0.2%

CB opened at $295.75 on Friday. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.27. The stock has a market cap of $116.39 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 2.74 and a beta of 0.58. The stock’s 50 day moving average price is $280.40 and its 200-day moving average price is $280.98.

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 the consensus estimate of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The company had revenue of $14.87 billion for the quarter, compared to analyst estimates of $12.95 billion. During the same period last year, the company posted $5.72 earnings per share. Chubb’s revenue was up 7.5% compared to the same quarter last year. On average, equities analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CB. HSBC boosted their price objective on shares of Chubb from $302.00 to $304.00 in a research note on Wednesday, October 29th. Piper Sandler reiterated a “neutral” rating and issued a $283.00 price target (down from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Cantor Fitzgerald reissued a “neutral” rating and set a $300.00 price target on shares of Chubb in a research report on Monday, October 27th. Wolfe Research lifted their price target on shares of Chubb from $320.00 to $336.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Chubb in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Chubb has an average rating of “Hold” and an average price target of $307.79.

Insiders Place Their Bets

In related news, EVP Joseph F. Wayland sold 5,830 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the sale, the executive vice president directly owned 60,593 shares of the company’s stock, valued at approximately $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John J. Lupica sold 23,698 shares of Chubb stock in a transaction dated 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 transaction, the insider owned 90,600 shares of the company’s stock, valued at approximately $25,458,600. This represents a 20.73% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.77% 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.