UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in Chubb Limited (NYSE:CB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of Chubb Limited (NYSE:CB) by 11.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,387,160 shares of the financial services provider’s stock after selling 302,106 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Chubb were worth $688,433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fiduciary Trust Co boosted its holdings in Chubb by 2.8% during the third quarter. Fiduciary Trust Co now owns 30,951 shares of the financial services provider’s stock worth $8,926,000 after purchasing an additional 832 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Chubb by 1.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,931 shares of the financial services provider’s stock worth $49,583,000 after purchasing an additional 2,567 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in Chubb during the third quarter worth about $266,000. Townsquare Capital LLC boosted its holdings in Chubb by 37.1% during the third quarter. Townsquare Capital LLC now owns 9,274 shares of the financial services provider’s stock worth $2,675,000 after purchasing an additional 2,511 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. boosted its holdings in Chubb by 299.6% during the third quarter. Transamerica Financial Advisors Inc. now owns 939 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 704 shares during the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of NYSE:CB opened at $290.36 on Thursday. The company’s fifty day moving average price is $287.34 and its 200-day moving average price is $275.15. The firm has a market capitalization of $117.04 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 6.68 and a beta of 0.67. Chubb Limited has a one year low of $216.90 and a one year high of $302.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 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 analyst estimates of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.95 EPS. On average, equities research analysts anticipate that Chubb Limited will post 21.77 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, December 13th. Chubb’s payout ratio is 14.91%.

Insider Transactions at Chubb

In related news, insider John J. Lupica sold 15,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the transaction, the insider now owns 103,950 shares of the company’s stock, valued at approximately $29,676,685.50. This trade represents a 12.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. This represents a 5.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,715 shares of company stock valued at $23,803,540 in the last quarter. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CB. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Evercore ISI boosted 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. Morgan Stanley boosted 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. JMP Securities boosted their target price on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. 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 note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $287.37.

Chubb Company 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.