Pinnacle Associates Ltd. Boosts Stock Position in Chubb Limited (NYSE:CB)

Pinnacle Associates Ltd. grew its holdings in Chubb Limited (NYSE:CB) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,461 shares of the financial services provider’s stock after acquiring an additional 1,281 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Chubb were worth $4,747,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. First Trust Direct Indexing L.P. boosted its holdings in Chubb by 13.8% in the third quarter. First Trust Direct Indexing L.P. now owns 18,552 shares of the financial services provider’s stock worth $5,350,000 after acquiring an additional 2,243 shares in the last quarter. Evermay Wealth Management LLC boosted its holdings in Chubb by 3.1% in the third quarter. Evermay Wealth Management LLC now owns 1,639 shares of the financial services provider’s stock worth $473,000 after acquiring an additional 49 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Chubb by 9.9% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 7,987 shares of the financial services provider’s stock worth $2,348,000 after acquiring an additional 717 shares in the last quarter. Trajan Wealth LLC boosted its holdings in Chubb by 2.7% in the third quarter. Trajan Wealth LLC now owns 18,132 shares of the financial services provider’s stock worth $5,229,000 after acquiring an additional 470 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its holdings in Chubb by 28,765.7% in the third quarter. Pathway Financial Advisers LLC now owns 28,577 shares of the financial services provider’s stock worth $8,241,000 after acquiring an additional 28,478 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

CB has been the subject of several recent analyst reports. Roth Mkm raised their price target on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Company decreased their target price on Chubb from $269.00 to $266.00 and set an “equal weight” rating for the company in a report on Thursday. Evercore ISI lifted their target price on Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a report on Wednesday. Piper Sandler lifted their target price on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Finally, JMP Securities lifted their target price on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $286.47.

Chubb Stock Down 0.4 %

Chubb stock opened at $282.44 on Friday. The stock has a market capitalization of $114.14 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 5.87 and a beta of 0.66. Chubb Limited has a 12 month low of $212.82 and a 12 month high of $302.05. The business has a 50 day simple moving average of $288.20 and a 200-day simple moving average of $270.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, topping the consensus estimate of $4.93 by $0.79. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The firm had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. During the same period in the previous year, the business earned $4.95 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts anticipate that Chubb Limited will post 21.32 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Friday, September 13th. Chubb’s payout ratio is 14.91%.

Insider Buying and Selling

In related news, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the sale, the chief executive officer now directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at $167,748,829.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,636 shares of company stock worth $24,874,208. 0.86% 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.