Chubb Limited $CB Stock: Vontobel Holding Ltd. Raises Position

Vontobel Holding Ltd. lifted its position in Chubb Limited (NYSE:CB) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 99,048 shares of the financial services provider’s stock after acquiring an additional 2,396 shares during the quarter. Vontobel Holding Ltd.’s holdings in Chubb were worth $30,824,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. XXEC Inc. acquired a new stake in Chubb during the 2nd quarter valued at $228,226,000. Berkshire Hathaway Inc acquired a new stake in shares of Chubb in the second quarter worth $11,670,067,000. BlackRock Inc. acquired a new stake in shares of Chubb in the second quarter worth $9,913,336,000. GQG Partners LLC acquired a new stake in shares of Chubb in the second quarter worth $4,250,113,000. Finally, Bank of America Corp DE purchased a new position in shares of Chubb during the second quarter valued at $1,545,084,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Up 1.9%

Shares of NYSE:CB traded up $6.72 during trading on Friday, reaching $359.51. 1,533,515 shares of the company traded hands, compared to its average volume of 1,624,250. The firm has a fifty day simple moving average of $340.44 and a 200 day simple moving average of $336.38. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 1-year low of $266.40 and a 1-year high of $365.91. The firm has a market cap of $138.70 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 1.54 and a beta of 0.36.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. During the same period in the prior year, the business posted $6.14 earnings per share. Chubb’s revenue for the quarter was up 3.6% compared to the same quarter last year. Analysts anticipate that Chubb Limited will post 27.72 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 11th. Chubb’s dividend payout ratio is presently 14.43%.

Wall Street Analysts Forecast Growth

CB has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price target on Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Cantor Fitzgerald increased their price objective on Chubb from $330.00 to $333.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 7th. Weiss Ratings lowered Chubb from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. Piper Sandler lifted their target price on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Wells Fargo & Company lowered their target price on Chubb from $356.00 to $343.00 and set an “equal weight” rating on the stock in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus target price of $358.36.

Insider Activity

In other news, EVP Joseph Wayland sold 8,502 shares of Chubb stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. The trade was a 30.05% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company’s stock.

Chubb Profile

Chubb Limited (NYSE: CB) is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.

The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers’ compensation, homeowners insurance, automobile coverage, and specialty insurance.