Associated Banc Corp Decreases Stake in Chubb Limited (NYSE:CB)

Associated Banc Corp reduced its holdings in shares of Chubb Limited (NYSE:CB) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,725 shares of the financial services provider’s stock after selling 41 shares during the quarter. Associated Banc Corp’s holdings in Chubb were worth $497,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. ORG Partners LLC acquired a new stake in Chubb in the 2nd quarter valued at $963,000. Moloney Securities Asset Management LLC boosted its stake in shares of Chubb by 97.9% in the third quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock valued at $1,111,000 after purchasing an additional 1,905 shares during the period. Private Advisor Group LLC grew its holdings in 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 in the last quarter. Raymond James & Associates lifted its holdings in Chubb by 2.9% in the 2nd quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock worth $778,270,000 after buying an additional 87,059 shares in the last quarter. Finally, Savvy Advisors Inc. purchased a new position in Chubb in the 3rd quarter valued at about $721,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of NYSE CB opened at $286.41 on Tuesday. Chubb Limited has a 12-month low of $216.90 and a 12-month high of $302.05. The company has a market cap of $115.45 billion, a PE ratio of 11.73, a P/E/G ratio of 6.65 and a beta of 0.67. The stock has a 50 day simple moving average of $287.37 and a 200-day simple moving average of $274.81. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

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 company had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.95 EPS. On average, equities research analysts forecast that Chubb Limited will post 21.77 EPS for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.91 per share. The ex-dividend date is Friday, December 13th. This represents a $3.64 annualized dividend and a yield of 1.27%. Chubb’s payout ratio is 14.91%.

Insiders Place Their Bets

In other news, Director Michael G. Atieh sold 261 shares of Chubb stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now directly owns 39,172 shares in the company, valued at approximately $11,261,558.28. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the sale, the chief executive officer now owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This trade represents a 5.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,715 shares of company stock worth $23,803,540. 0.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CB. Jefferies Financial Group lifted their target price on Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Bank of America increased their target price on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Piper Sandler raised their price target 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. JMP Securities upped their price target on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Finally, Evercore ISI increased their target price on Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chubb has an average rating of “Hold” and a consensus price target of $287.37.

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.