Chubb Limited (NYSE:CB) Shares Sold by Banco Santander S.A.

Banco Santander S.A. cut its stake in shares of Chubb Limited (NYSE:CB) by 0.7% in the 3rd quarter, Holdings Channel reports. The firm owned 21,546 shares of the financial services provider’s stock after selling 152 shares during the quarter. Banco Santander S.A.’s holdings in Chubb were worth $6,214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Pathway Financial Advisers LLC acquired a new position in Chubb in the 1st quarter worth approximately $25,000. Beacon Capital Management LLC grew its position in shares of Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Chilton Capital Management LLC bought a new position in shares of Chubb during the 2nd quarter worth about $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Chubb in the second quarter valued at $28,000. Finally, Kozak & Associates Inc. acquired a new position in shares of Chubb in the 3rd quarter worth approximately $29,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the transaction, the chief executive officer now owns 553,664 shares in the company, valued at approximately $160,341,094.40. This represents a 5.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction that occurred on 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 sale, the insider now owns 103,950 shares in the company, valued at $29,676,685.50. This represents a 12.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,715 shares of company stock worth $23,803,540 in the last 90 days. Company insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. JMP Securities raised their price objective 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. Barclays assumed coverage on Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. Jefferies Financial Group raised their price objective on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised their price objective on shares of Chubb from $266.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler boosted their target price on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $287.37.

Chubb Stock Performance

Shares of NYSE CB opened at $285.35 on Friday. The stock has a market cap of $115.02 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 6.62 and a beta of 0.67. The stock’s 50-day moving average is $287.54 and its 200 day moving average is $274.03. 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 Limited has a 1-year low of $216.90 and a 1-year high of $302.05.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating 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 business had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. During the same period in the prior year, the business posted $4.95 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that Chubb Limited will post 21.77 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.28%. Chubb’s payout ratio is presently 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.