National Bank of Canada FI Sells 190,374 Shares of Chubb Limited (NYSE:CB)

National Bank of Canada FI trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 47.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 210,783 shares of the financial services provider’s stock after selling 190,374 shares during the period. National Bank of Canada FI owned approximately 0.05% of Chubb worth $47,921,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Americana Partners LLC acquired a new position in Chubb during the third quarter worth $292,000. Lazard Asset Management LLC increased its position in Chubb by 978.1% during the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock valued at $113,781,000 after purchasing an additional 495,860 shares during the period. Alphinity Investment Management Pty Ltd boosted its holdings in shares of Chubb by 155.8% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock worth $120,235,000 after buying an additional 324,019 shares in the last quarter. Graypoint LLC lifted its holdings in shares of Chubb by 1,275.7% in the 4th quarter. Graypoint LLC now owns 31,599 shares of the financial services provider’s stock worth $7,141,000 after purchasing an additional 29,302 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in Chubb in the 4th quarter valued at $1,403,000. 83.81% of the stock is owned by institutional investors.

Insider Activity

In other Chubb news, EVP Timothy Alan Boroughs sold 33,150 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $255.11, for a total value of $8,456,896.50. Following the transaction, the executive vice president now owns 50,486 shares in the company, valued at approximately $12,879,483.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Timothy Alan Boroughs sold 33,150 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $255.11, for a total transaction of $8,456,896.50. Following the completion of the sale, the executive vice president now owns 50,486 shares of the company’s stock, valued at approximately $12,879,483.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph F. Wayland sold 26,946 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.02, for a total transaction of $6,925,660.92. Following the completion of the transaction, the executive vice president now owns 95,252 shares of the company’s stock, valued at approximately $24,481,669.04. The disclosure for this sale can be found here. In the last three months, insiders sold 108,863 shares of company stock worth $28,007,307. Company insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CB shares. JMP Securities restated a “market outperform” rating and set a $280.00 price objective on shares of Chubb in a research report on Monday, April 15th. Morgan Stanley boosted their target price on shares of Chubb from $258.00 to $260.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Piper Sandler reissued an “overweight” rating and issued a $282.00 target price on shares of Chubb in a report on Monday, April 1st. HSBC reissued a “hold” rating and issued a $270.00 target price (down previously from $275.00) on shares of Chubb in a research note on Thursday, April 4th. Finally, Evercore ISI upped their price target on shares of Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $266.89.

Chubb Stock Up 1.1 %

CB stock traded up $2.79 on Monday, hitting $251.33. 308,314 shares of the company’s stock were exchanged, compared to its average volume of 1,726,687. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a 50 day moving average price of $251.96 and a two-hundred day moving average price of $237.16. The stock has a market cap of $102.06 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 1.17 and a beta of 0.63. Chubb Limited has a 12-month low of $183.71 and a 12-month high of $260.58.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $11.75 billion. During the same period in the prior year, the business earned $4.41 earnings per share. The business’s revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts expect that Chubb Limited will post 21.18 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.86 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.37%. Chubb’s payout ratio is 15.27%.

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.