Bennett Associates Wealth Management Trims Stake in Chubb Limited (NYSE:CB)

Bennett Associates Wealth Management lessened its stake in Chubb Limited (NYSE:CB) by 3.3% during the 4th quarter, HoldingsChannel reports. The firm owned 1,217 shares of the financial services provider’s stock after selling 41 shares during the quarter. Bennett Associates Wealth Management’s holdings in Chubb were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its stake in shares of Chubb by 7.3% in the 3rd quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock valued at $4,492,103,000 after purchasing an additional 1,052,999 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Chubb by 28,885.3% in the third quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock valued at $2,696,640,000 after buying an additional 931,841 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Chubb by 4,559.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock worth $243,641,000 after buying an additional 826,700 shares during the period. Troy Asset Management Ltd purchased a new position in shares of Chubb during the 2nd quarter valued at approximately $106,975,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Chubb by 49.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock valued at $338,070,000 after acquiring an additional 389,343 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CB shares. Keefe, Bruyette & Woods upped their price objective on shares of Chubb from $320.00 to $328.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Piper Sandler raised their price target on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Wells Fargo & Company cut their price objective on Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research note on Tuesday. Barclays reduced their target price on Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted their price target on Chubb from $294.00 to $296.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $288.17.

Chubb Price Performance

Shares of CB stock opened at $273.49 on Friday. 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 company has a market capitalization of $110.25 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 5.65 and a beta of 0.67. The firm’s 50-day moving average is $278.22 and its two-hundred day moving average is $278.09. Chubb Limited has a 12 month low of $226.74 and a 12 month high of $302.05.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.95 EPS. Analysts predict that Chubb Limited will post 21.93 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Friday, December 13th. Chubb’s dividend payout ratio is presently 14.91%.

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.