Advisors Asset Management Inc. Has $2.29 Million Holdings in Chubb Limited (NYSE:CB)

Advisors Asset Management Inc. cut its stake in shares of Chubb Limited (NYSE:CB) by 10.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,940 shares of the financial services provider’s stock after selling 957 shares during the period. Advisors Asset Management Inc.’s holdings in Chubb were worth $2,290,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new position in Chubb during the first quarter valued at approximately $25,000. Beacon Capital Management LLC raised its stake in Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Chilton Capital Management LLC acquired a new position in Chubb during the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new position in Chubb during the 2nd quarter valued at $28,000. Finally, Kozak & Associates Inc. acquired a new position in shares of Chubb in the 3rd quarter valued at $29,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Piper Sandler increased their price target on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Barclays started coverage on shares of Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price on the stock. Keefe, Bruyette & Woods raised their target price on shares of Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group lifted their price objective on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Chubb presently has a consensus rating of “Hold” and a consensus price target of $287.37.

Insider Buying and Selling

In other Chubb news, insider John J. Lupica sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the transaction, the insider now owns 103,950 shares in the company, valued at approximately $29,676,685.50. This represents a 12.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the transaction, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. This trade represents a 5.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,715 shares of company stock worth $23,803,540 in the last quarter. 0.86% of the stock is owned by insiders.

Chubb Trading Up 0.0 %

NYSE CB opened at $285.21 on Monday. The stock has a market capitalization of $114.97 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 6.65 and a beta of 0.67. Chubb Limited has a one year low of $216.90 and a one year high of $302.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The business’s fifty day moving average is $287.46 and its 200-day moving average is $274.58.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.74. The company had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.95 EPS. Equities research analysts predict that Chubb Limited will post 21.77 EPS for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Friday, December 13th. Chubb’s payout ratio is 14.91%.

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.