Victory Capital Management Inc. Purchases 112,689 Shares of Chubb Limited (NYSE:CB)

Victory Capital Management Inc. lifted its position in shares of Chubb Limited (NYSE:CB) by 48.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 344,917 shares of the financial services provider’s stock after purchasing an additional 112,689 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Chubb worth $77,951,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Deutsche Bank AG raised its stake in Chubb by 426.8% during the 3rd quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock worth $3,355,762,000 after buying an additional 13,059,385 shares during the period. Lazard Asset Management LLC grew its stake in Chubb by 978.1% during the third quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock worth $113,781,000 after buying an additional 495,860 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Chubb by 19,454.2% in the 4th quarter. International Assets Investment Management LLC now owns 485,336 shares of the financial services provider’s stock valued at $1,096,860,000 after buying an additional 482,854 shares during the period. Envestnet Asset Management Inc. increased its stake in Chubb by 43.4% in the third quarter. Envestnet Asset Management Inc. now owns 1,107,362 shares of the financial services provider’s stock valued at $230,531,000 after acquiring an additional 334,970 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd raised its position in Chubb by 155.8% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock valued at $120,235,000 after purchasing an additional 324,019 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CB. Piper Sandler reissued an “overweight” rating and set a $282.00 target price on shares of Chubb in a research note on Monday, April 1st. Evercore ISI increased their target price on Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Wells Fargo & Company boosted their price objective on shares of Chubb from $234.00 to $255.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Royal Bank of Canada decreased their price target on shares of Chubb from $295.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, BMO Capital Markets raised their target price on Chubb from $220.00 to $240.00 and gave the stock a “market perform” rating in a research note on Monday, February 5th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Chubb has a consensus rating of “Moderate Buy” and a consensus target price of $266.89.

Insider Activity

In related news, EVP Timothy Alan Boroughs sold 33,150 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $255.11, for a total value of $8,456,896.50. Following the transaction, the executive vice president now directly owns 50,486 shares in the company, valued at $12,879,483.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Timothy Alan Boroughs sold 33,150 shares of Chubb stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $255.11, for a total value of $8,456,896.50. Following the completion of the transaction, the executive vice president now owns 50,486 shares in the company, valued at $12,879,483.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Joseph F. Wayland sold 26,946 shares of Chubb stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.02, for a total value of $6,925,660.92. Following the sale, the executive vice president now directly owns 95,252 shares of the company’s stock, valued at approximately $24,481,669.04. The disclosure for this sale can be found here. Insiders sold a total of 108,863 shares of company stock worth $28,007,307 in the last three months. Company insiders own 0.86% of the company’s stock.

Chubb Trading Down 0.7 %

CB opened at $248.51 on Friday. Chubb Limited has a 1-year low of $183.71 and a 1-year high of $260.58. The stock has a market capitalization of $100.91 billion, a PE ratio of 11.03, a PEG ratio of 1.18 and a beta of 0.63. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $252.11 and a two-hundred day moving average price of $236.62.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.29 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the business posted $4.41 earnings per share. As a group, equities analysts anticipate that Chubb Limited will post 21.18 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Thursday, March 14th. Chubb’s payout ratio is 15.27%.

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.