Massachusetts Financial Services Co. MA Has $2.52 Billion Stake in Chubb Limited (NYSE:CB)

Massachusetts Financial Services Co. MA lessened its stake in Chubb Limited (NYSE:CB) by 2.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,722,514 shares of the financial services provider’s stock after selling 198,832 shares during the period. Chubb comprises 0.8% of Massachusetts Financial Services Co. MA’s investment portfolio, making the stock its 22nd biggest position. Massachusetts Financial Services Co. MA’s holdings in Chubb were worth $2,515,486,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its stake in shares of Chubb by 0.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock valued at $1,917,000 after purchasing an additional 40 shares during the period. Steigerwald Gordon & Koch Inc. boosted its holdings in Chubb by 1.9% during the second quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock worth $543,000 after buying an additional 40 shares during the last quarter. LVW Advisors LLC grew its position in shares of Chubb by 0.3% during the 3rd quarter. LVW Advisors LLC now owns 11,754 shares of the financial services provider’s stock worth $3,390,000 after buying an additional 40 shares during the period. Wealth Effects LLC increased its stake in shares of Chubb by 3.0% in the 3rd quarter. Wealth Effects LLC now owns 1,370 shares of the financial services provider’s stock valued at $395,000 after acquiring an additional 40 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Chubb by 1.1% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,706 shares of the financial services provider’s stock valued at $1,069,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CB shares. Roth Mkm boosted their price target on shares of Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Piper Sandler increased their target price on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Bank of America upped their price target on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Barclays initiated coverage on shares of Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price objective on the stock. Finally, Royal Bank of Canada lifted their price target on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Chubb has a consensus rating of “Hold” and an average price target of $287.37.

Insider Activity

In other news, insider John J. Lupica sold 15,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total value of $4,282,350.00. Following the completion of the transaction, the insider now owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. This represents a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. This trade represents a 5.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 82,715 shares of company stock worth $23,803,540. 0.86% of the stock is currently owned by company insiders.

Chubb Trading Down 0.4 %

Shares of Chubb stock opened at $282.81 on Thursday. Chubb Limited has a 52-week low of $216.90 and a 52-week high of $302.05. The stock has a market cap of $114.00 billion, a PE ratio of 11.58, a PEG ratio of 6.62 and a beta of 0.67. The firm has a 50-day moving average of $287.60 and a 200-day moving average of $273.95. 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 posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) 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 firm had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. During the same quarter in the previous year, the firm posted $4.95 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Chubb Limited will post 21.77 EPS for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.29%. Chubb’s dividend 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.