Chubb Limited (NYSE:CB) Stake Lowered by GSB Wealth Management LLC

GSB Wealth Management LLC trimmed its holdings in Chubb Limited (NYSE:CB) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,498 shares of the financial services provider’s stock after selling 103 shares during the quarter. GSB Wealth Management LLC’s holdings in Chubb were worth $967,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Chubb by 7.3% in the third 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 Chubb by 28,885.3% during the third quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after buying an additional 931,841 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Chubb by 4,559.3% in the third quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock valued at $243,641,000 after purchasing an additional 826,700 shares during the last quarter. Troy Asset Management Ltd acquired a new stake in shares of Chubb in the second quarter valued at about $106,975,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Chubb by 49.7% in the third 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 purchasing an additional 389,343 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Evercore ISI increased their target price on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their target price on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Morgan Stanley lifted their target price on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. 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 report on Friday, October 4th. Finally, JMP Securities lifted their target price on shares of Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $288.17.

Chubb Trading Up 0.1 %

Shares of CB stock opened at $266.71 on Friday. Chubb Limited has a 52-week low of $238.85 and a 52-week high of $302.05. The company has a 50-day simple moving average of $276.24 and a two-hundred day simple moving average of $278.65. The company has a market capitalization of $107.51 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 7.23 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, topping the consensus estimate of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. During the same period last year, the firm earned $4.95 EPS. Chubb’s revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts anticipate that Chubb Limited will post 21.95 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Friday, December 13th. Chubb’s payout ratio is presently 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.