Chubb Limited $CB Holdings Lessened by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its stake in shares of Chubb Limited (NYSE:CB) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,947 shares of the financial services provider’s stock after selling 2,873 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Chubb were worth $50,722,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CB. Equitable Holdings Inc. bought a new position in Chubb in the second quarter valued at approximately $4,139,000. Berkshire Hathaway Inc acquired a new position in Chubb during the second quarter valued at approximately $11,670,067,000. XXEC Inc. bought a new stake in Chubb during the second quarter worth $26,210,000. Douglas Lane & Associates LLC lifted its stake in Chubb by 2,748.0% during the third quarter. Douglas Lane & Associates LLC now owns 467,591 shares of the financial services provider’s stock worth $152,084,000 after purchasing an additional 451,173 shares during the last quarter. Finally, Glenview Trust Co bought a new stake in Chubb during the second quarter worth $11,147,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CB shares. TD Cowen raised their target price on Chubb from $360.00 to $379.00 and gave the company a “hold” rating in a report on Wednesday, October 28th. UBS Group restated a “neutral” rating and set a $380.00 price objective on shares of Chubb in a research report on Monday, October 26th. HSBC restated a “hold” rating and set a $359.00 price objective on shares of Chubb in a research report on Wednesday, October 7th. Mizuho raised their price objective on Chubb from $336.00 to $350.00 and gave the company a “neutral” rating in a research note on Thursday, October 22nd. Finally, Keefe, Bruyette & Woods decreased their target price on Chubb from $389.00 to $387.00 and set an “outperform” rating on the stock in a research report on Monday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chubb currently has a consensus rating of “Hold” and a consensus price target of $362.78.

Insider Buying and Selling

In other news, EVP Timothy Boroughs sold 13,596 shares of the business’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $356.77, for a total transaction of $4,850,644.92. Following the sale, the executive vice president directly owned 5,588 shares in the company, valued at approximately $1,993,630.76. The trade was a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Evan Greenberg sold 13,889 shares of the business’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $360.02, for a total value of $5,000,317.78. Following the sale, the chief executive officer owned 277,274 shares in the company, valued at approximately $99,824,185.48. This trade represents a 4.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,985 shares of company stock worth $11,748,463 in the last 90 days. Insiders own 0.37% of the company’s stock.

Chubb Stock Performance

Shares of Chubb stock opened at $369.34 on Wednesday. Chubb Limited has a fifty-two week low of $288.39 and a fifty-two week high of $384.26. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $141.12 billion, a P/E ratio of 12.92, a P/E/G ratio of 1.68 and a beta of 0.29. The company’s 50 day moving average price is $347.10 and its two-hundred day moving average price is $336.14.

Chubb (NYSE:CB) last announced its quarterly earnings results 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 net margin of 18.15% and a return on equity of 14.41%. The company had revenue of $16.20 billion during the quarter, compared to the consensus estimate of $15.66 billion. During the same period in the prior year, the business earned $7.49 earnings per share. On average, equities analysts forecast that Chubb Limited will post 28.89 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were given a dividend of $1.02 per share. The ex-dividend date was Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. Chubb’s payout ratio is currently 14.28%.

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty insurance, accident and health coverage, life insurance, and reinsurance. Its customers include individuals, businesses, and institutions, with products ranging from personal and commercial coverage to specialized insurance solutions. The company serves customers across North America, Europe, Asia-Pacific, Latin America, and other markets. Its operations include underwriting, claims services, and risk management for a broad range of industries and personal insurance needs.