Synovus Financial Corp Acquires 297 Shares of Chubb Limited (NYSE:CB)

Synovus Financial Corp raised its position in shares of Chubb Limited (NYSE:CB) by 1.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,503 shares of the financial services provider’s stock after purchasing an additional 297 shares during the period. Synovus Financial Corp’s holdings in Chubb were worth $8,797,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CB. Moloney Securities Asset Management LLC lifted its position in Chubb by 97.9% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock worth $1,111,000 after buying an additional 1,905 shares during the last quarter. Barclays PLC boosted its stake in shares of Chubb by 28.1% in the 3rd quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock valued at $511,226,000 after purchasing an additional 388,746 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Chubb by 21.2% during the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock valued at $3,279,000 after purchasing an additional 2,250 shares during the last quarter. Savvy Advisors Inc. purchased a new position in Chubb in the 3rd quarter worth $721,000. Finally, Raymond James & Associates lifted its stake in Chubb by 2.9% in the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock worth $778,270,000 after purchasing an additional 87,059 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 0.6 %

Shares of Chubb stock opened at $276.06 on Friday. Chubb Limited has a 1 year low of $216.90 and a 1 year high of $302.05. The firm has a market cap of $111.28 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 6.43 and a beta of 0.67. The company has a 50-day moving average of $285.45 and a 200 day moving average of $276.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. During the same quarter last year, the firm earned $4.95 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Chubb Limited will post 21.82 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.32%. Chubb’s dividend payout ratio is currently 14.91%.

Wall Street Analyst Weigh In

CB has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price objective on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price target on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Piper Sandler increased their price objective on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, JMP Securities increased their price target on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Two 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 company. According to MarketBeat, Chubb has a consensus rating of “Hold” and an average target price of $287.37.

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.