Truist Financial Corp Sells 393,885 Shares of Chubb Limited (NYSE:CB)

Truist Financial Corp reduced its stake in shares of Chubb Limited (NYSE:CB) by 52.9% in the fourth quarter, HoldingsChannel reports. The firm owned 350,274 shares of the financial services provider’s stock after selling 393,885 shares during the period. Truist Financial Corp’s holdings in Chubb were worth $79,162,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Americana Partners LLC acquired a new stake in shares of Chubb in the 3rd quarter worth $292,000. Lazard Asset Management LLC boosted its holdings in Chubb by 978.1% in the third quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock worth $113,781,000 after acquiring an additional 495,860 shares in the last quarter. Alphinity Investment Management Pty Ltd grew its stake in shares of Chubb by 155.8% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock worth $120,235,000 after acquiring an additional 324,019 shares during the last quarter. Graypoint LLC increased its holdings in shares of Chubb by 1,275.7% during the fourth quarter. Graypoint LLC now owns 31,599 shares of the financial services provider’s stock valued at $7,141,000 after acquiring an additional 29,302 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in shares of Chubb during the fourth quarter valued at about $1,403,000. Institutional investors own 83.81% of the company’s stock.

Insider Activity

In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the transaction, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Chubb news, insider John J. Lupica sold 34,464 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total value of $8,923,418.88. Following the transaction, the insider now owns 130,937 shares of the company’s stock, valued at $33,902,208.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Annmarie T. Hagan sold 7,180 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the transaction, the chief accounting officer now directly owns 6,105 shares in the company, valued at approximately $1,495,969.20. The disclosure for this sale can be found here. Insiders have sold a total of 116,043 shares of company stock worth $29,766,694 over the last 90 days. 0.86% of the stock is currently owned by company insiders.

Chubb Price Performance

NYSE CB traded down $0.51 during trading hours on Friday, reaching $245.45. The company’s stock had a trading volume of 1,565,900 shares, compared to its average volume of 1,523,435. The firm has a market capitalization of $99.65 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.16 and a beta of 0.62. The company’s 50-day moving average is $252.33 and its two-hundred day moving average is $235.52. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.35 and a quick ratio of 0.29. Chubb Limited has a 1-year low of $183.71 and a 1-year high of $260.58.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, topping the consensus estimate of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same period in the prior year, the company posted $4.41 EPS. The business’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts predict that Chubb Limited will post 21.23 EPS for the current year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.86 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.44 annualized dividend and a dividend yield of 1.40%. Chubb’s dividend payout ratio (DPR) is 15.27%.

Analyst Ratings Changes

Several analysts have weighed in on CB shares. Raymond James boosted their target price on shares of Chubb from $270.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 1st. Royal Bank of Canada cut their target price on Chubb from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday. Wells Fargo & Company boosted their price target on Chubb from $234.00 to $255.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. UBS Group increased their price objective on Chubb from $245.00 to $256.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $280.00 target price on shares of Chubb in a report on Monday, April 15th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Chubb presently has an average rating of “Moderate Buy” and a consensus price target of $266.89.

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.