Fifth Third Bancorp Sells 8,742 Shares of Chubb Limited (NYSE:CB)

Fifth Third Bancorp lowered its stake in Chubb Limited (NYSE:CB) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,359 shares of the financial services provider’s stock after selling 8,742 shares during the quarter. Fifth Third Bancorp’s holdings in Chubb were worth $52,320,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FMR LLC lifted its stake 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 buying an additional 1,052,999 shares in the last quarter. Legal & General Group Plc lifted its position in Chubb by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock valued at $938,663,000 after acquiring an additional 104,986 shares in the last quarter. Barclays PLC boosted its stake in Chubb by 28.1% during 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 during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Chubb by 49.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock worth $338,070,000 after purchasing an additional 389,343 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings 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 purchasing an additional 931,841 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays decreased their price target on Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Jefferies Financial Group increased their target price on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Piper Sandler upped their price objective on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Wells Fargo & Company dropped their target price on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, Morgan Stanley upped their target price on Chubb from $295.00 to $300.00 and gave the company an “equal weight” 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Chubb currently has a consensus rating of “Hold” and a consensus target price of $288.17.

Chubb Stock Performance

NYSE:CB 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 business’s fifty day moving average is $276.67 and its 200 day moving average is $278.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $107.51 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 7.23 and a beta of 0.67.

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

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were given a dividend of $0.91 per share. The ex-dividend date was Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.36%. Chubb’s dividend payout ratio (DPR) is currently 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.