Chubb Limited $CB Stock Sold by Cooke & Bieler LP

Cooke & Bieler LP trimmed its stake in shares of Chubb Limited (NYSE:CB) by 35.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 222,836 shares of the financial services provider’s stock after selling 121,052 shares during the period. Cooke & Bieler LP owned about 0.06% of Chubb worth $72,477,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. XXEC Inc. acquired a new stake in shares of Chubb in the 2nd quarter worth approximately $228,226,000. Berkshire Hathaway Inc purchased a new position in Chubb in the 2nd quarter valued at approximately $11,670,067,000. BlackRock Inc. acquired a new position in Chubb during the second quarter worth $9,913,336,000. GQG Partners LLC acquired a new position in Chubb during the second quarter worth $4,250,113,000. Finally, Bank of America Corp DE acquired a new position in Chubb during the second quarter worth $1,545,084,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Chubb

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Quarterly results exceeded expectations. Chubb reported $7.66 in adjusted earnings per share, above the $6.79 consensus estimate, while revenue reached $16.20 billion versus expectations of $15.71 billion. Earnings also increased from $7.49 per share a year earlier. Chubb quarterly earnings report
• Positive Sentiment: Underlying business momentum remained strong. Core operating income totaled approximately $2.98 billion, overseas general property-and-casualty premiums grew 6.7%, and net premiums written increased. Record investment income and higher life-insurance income also helped offset pressure in underwriting. Chubb long-term investor takeaways
• Positive Sentiment: Analyst sentiment improved in one notable instance. Zacks upgraded Chubb to a Rank #2, or Buy, citing improved earnings prospects, which could support investor interest. Zacks Chubb upgrade
• Neutral Sentiment: Management maintained an upbeat outlook. The earnings call highlighted profitability, premium growth and continued benefits from investment income, but investors are evaluating whether the strong performance is already reflected in the share price. Chubb earnings call highlights
• Negative Sentiment: Catastrophe losses pressured underwriting results. Rising catastrophe claims remain a risk for future earnings and temper the otherwise strong quarter. Cantor Fitzgerald reaffirmed a Neutral rating with a $333 price target, below the stock’s recently reported $354.81 level, while another analysis said much of the strong Q3 performance may already be reflected in the valuation. Chubb valuation analysis

Insider Buying and Selling at Chubb

In other news, EVP Joseph Wayland sold 8,502 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the transaction, the executive vice president directly owned 33,749 shares of the company’s stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael P. Connors sold 5,500 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director owned 12,803 shares in the company, valued at $4,417,035. This represents a 30.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CB. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $354.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. Piper Sandler raised their price target on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. The Goldman Sachs Group lifted their price target on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Evercore reaffirmed an “outperform” rating and set a $374.00 price target on shares of Chubb in a research note on Friday, July 10th. Finally, Citigroup reiterated a “market outperform” rating on shares of Chubb in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $358.36.

Chubb Trading Down 0.8%

Shares of CB opened at $354.81 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a 50 day simple moving average of $341.06 and a 200-day simple moving average of $337.07. Chubb Limited has a 1-year low of $272.20 and a 1-year high of $365.91. The stock has a market cap of $136.89 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.57 and a beta of 0.36.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.77 by $0.89. Chubb had a return on equity of 14.33% and a net margin of 18.15%. The firm had revenue of $16.20 billion during the quarter, compared to the consensus estimate of $15.71 billion. During the same period in the previous year, the firm posted $7.49 EPS. Equities analysts forecast that Chubb Limited will post 27.72 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, September 11th. Chubb’s dividend payout ratio is 14.43%.

About Chubb

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings include commercial and personal property and casualty insurance, liability coverage, workers’ compensation, specialty insurance, travel insurance, and coverage for high-net-worth individuals.

The company serves businesses, individuals, and institutional customers through a network spanning North America, Latin America, Europe, Asia-Pacific, and other international markets.