Truist Financial Corp Raises Position in Chubb Limited $CB

Truist Financial Corp grew its holdings in shares of Chubb Limited (NYSE:CB) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 178,759 shares of the financial services provider’s stock after purchasing an additional 1,800 shares during the quarter. Truist Financial Corp’s holdings in Chubb were worth $55,794,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Berkshire Hathaway Inc grew its holdings in Chubb by 15.9% in the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after buying an additional 4,299,111 shares during the period. State Street Corp grew its holdings in Chubb by 0.4% in the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after buying an additional 68,553 shares during the period. Ameriprise Financial Inc. grew its holdings in Chubb by 9.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock valued at $1,426,475,000 after buying an additional 427,512 shares during the period. Bank of America Corp DE grew its holdings in Chubb by 11.6% in 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 buying an additional 513,852 shares during the period. Finally, AQR Capital Management LLC raised its stake in Chubb by 75.1% during the third 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.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CB shares. Wolfe Research increased their price target on shares of Chubb from $372.00 to $373.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Bank of America cut their price target on shares of Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 14th. BMO Capital Markets increased their price target on shares of Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $315.00 price target on shares of Chubb in a research note on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Chubb from $304.00 to $330.00 and gave the company a “hold” rating in a research report on Monday, March 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $349.33.

Chubb Trading Down 0.4%

NYSE CB opened at $324.97 on Tuesday. Chubb Limited has a one year low of $264.10 and a one year high of $345.67. The company’s 50 day moving average price is $329.03 and its 200 day moving average price is $311.34. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $126.04 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.67 and a beta of 0.43.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The firm had revenue of $14.93 billion for the quarter. On average, sell-side analysts predict that Chubb Limited will post 26.74 EPS for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Friday, March 13th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, March 13th. Chubb’s dividend payout ratio is 13.70%.

Insider Buying and Selling

In related news, EVP Timothy Alan Boroughs sold 27,817 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the sale, the executive vice president directly owned 11,810 shares in the company, valued at approximately $3,920,683.80. This trade represents a 70.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 15,060 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $331.47, for a total value of $4,991,938.20. Following the sale, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 44,877 shares of company stock valued at $14,885,226. Company insiders own 0.37% of the company’s stock.

About Chubb

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.