Chubb Limited $CB Stock: Costello Asset Management INC Trims Holdings

Costello Asset Management INC lowered its position in shares of Chubb Limited (NYSE:CB) by 13.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,086 shares of the financial services provider’s stock after selling 1,657 shares during the period. Chubb comprises about 1.1% of Costello Asset Management INC’s portfolio, making the stock its 20th biggest position. Costello Asset Management INC’s holdings in Chubb were worth $3,606,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Berkshire Hathaway Inc bought a new stake in shares of Chubb in the second quarter worth $11,670,067,000. BlackRock Inc. acquired a new stake in Chubb in the second quarter valued at $9,913,336,000. GQG Partners LLC acquired a new stake in Chubb in the second quarter valued at $4,250,113,000. Bank of America Corp DE raised its position in Chubb by 3.1% during the 1st quarter. Bank of America Corp DE now owns 4,908,624 shares of the financial services provider’s stock worth $1,599,868,000 after purchasing an additional 147,876 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Chubb by 74.3% during the 1st quarter. Bank of New York Mellon Corp now owns 3,420,692 shares of the financial services provider’s stock worth $1,114,906,000 after purchasing an additional 1,457,992 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 2.1%

Shares of NYSE:CB opened at $374.41 on Thursday. Chubb Limited has a 1 year low of $282.11 and a 1 year high of $374.60. 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 business’s 50-day moving average is $344.94 and its 200-day moving average is $334.80. The company has a market capitalization of $143.06 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 1.69 and a beta of 0.29.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.89. The company had revenue of $16.20 billion for the quarter, compared to the consensus estimate of $15.66 billion. Chubb had a net margin of 18.15% and a return on equity of 14.41%. During the same quarter in the previous year, the company earned $7.49 EPS. Equities research analysts predict that Chubb Limited will post 28.89 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were given a $1.02 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.1%. Chubb’s dividend payout ratio (DPR) is presently 14.28%.

Key Stories Impacting Chubb

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Chubb’s partnership with Currys expands its embedded-insurance reach in the U.K., positioning it to capture demand for mobile-device protection through retail and digital channels. Can Chubb’s Currys Partnership Expand Embedded Insurance Growth?
• Positive Sentiment: Recent coverage highlighted Chubb as a momentum stock and noted that shares had reached a 52-week high. This may reinforce investor interest, although the articles do not identify a specific new company catalyst behind the run. What Makes Chubb (CB) a Strong Momentum Stock: Buy Now?
• Neutral Sentiment: An article on possible interest-rate hikes cited insurers among stocks that could benefit. Higher rates can improve investment income over time, but the outlook is conditional and not specific to Chubb. Rate Hikes Could Be Coming: History Likes These 4 Insurance Stocks
• Neutral Sentiment: Zacks Research made a mix of modest upward and downward earnings-estimate changes across coming quarters and fiscal years. The revisions offer no clear overall change in expectations. Chubb Limited analyst estimates
• Negative Sentiment: CEO Evan Greenberg sold 13,889 shares for about $5 million. Insider sales can weigh on sentiment, though he retained 277,274 shares after the transaction. Chubb CEO Sells 13,889 Shares

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CB shares. HSBC reaffirmed a “hold” rating and issued a $359.00 price objective on shares of Chubb in a research note on Wednesday, October 7th. Weiss Ratings raised shares of Chubb from a “buy (b)” rating to a “buy (a)” rating in a research report on Friday, October 16th. Morgan Stanley raised their price target on shares of Chubb from $350.00 to $360.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 27th. Citizens Jmp restated a “market outperform” rating and issued a $400.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. Finally, Evercore reaffirmed an “outperform” rating and issued a $374.00 price objective on shares of Chubb in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus price target of $362.78.

Insider Activity at Chubb

In other news, CEO Evan Greenberg sold 13,889 shares of Chubb stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $360.02, for a total transaction of $5,000,317.78. Following the completion of the transaction, the chief executive officer directly owned 277,274 shares in the company, valued at $99,824,185.48. This trade represents a 4.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the sale, the director directly owned 12,803 shares of the company’s stock, valued at approximately $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 32,985 shares of company stock valued at $11,748,463. 0.37% of the stock is owned by company insiders.

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.