Chubb Limited $CB Shares Sold by MGO One Seven LLC

MGO One Seven LLC trimmed its position in Chubb Limited (NYSE:CB) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,006 shares of the financial services provider’s stock after selling 1,727 shares during the quarter. MGO One Seven LLC’s holdings in Chubb were worth $19,517,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CB. Berkshire Hathaway Inc purchased a new position in shares of Chubb during the second quarter valued at $11,670,067,000. BlackRock Inc. purchased a new stake in Chubb in the second quarter worth about $9,913,336,000. GQG Partners LLC purchased a new stake in Chubb in the second quarter worth about $4,250,113,000. Bank of America Corp DE lifted its stake in Chubb by 3.1% in the first 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 acquiring an additional 147,876 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings 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 acquiring an additional 1,457,992 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In related news, Director Michael Connors sold 5,500 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the transaction, the director owned 12,803 shares in the company, valued at $4,417,035. This trade represents a 30.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Timothy Boroughs sold 13,596 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $356.77, for a total value of $4,850,644.92. Following the completion of the transaction, the executive vice president owned 5,588 shares of the company’s stock, valued at approximately $1,993,630.76. The trade was a 70.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CB has been the topic of several recent research reports. Wells Fargo & Company increased their target price on shares of Chubb from $343.00 to $366.00 and gave the stock an “equal weight” rating in a report on Thursday, October 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $333.00 price target on shares of Chubb in a report on Wednesday, October 21st. Citizens Jmp reaffirmed a “market outperform” rating and issued a $400.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. Citigroup reiterated a “buy” rating and set a $405.00 price objective (up from $395.00) on shares of Chubb in a research note on Wednesday, October 21st. Finally, TD Cowen lifted their price objective on shares of Chubb from $360.00 to $379.00 and gave the company a “hold” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $362.78.

Chubb Stock Performance

Shares of CB stock opened at $364.12 on Friday. The business’s fifty day simple moving average is $343.33 and its 200-day simple moving average is $333.76. The company has a market cap of $139.12 billion, a PE ratio of 12.74, a PEG ratio of 1.69 and a beta of 0.36. The company has a current ratio of 0.28, a quick ratio of 0.29 and a debt-to-equity ratio of 0.23. Chubb Limited has a 12-month low of $273.35 and a 12-month high of $369.00.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, beating the consensus estimate of $6.77 by $0.89. The firm had revenue of $16.20 billion during the quarter, compared to analyst estimates of $15.66 billion. Chubb had a return on equity of 14.41% and a net margin of 18.15%. During the same quarter in the prior year, the business posted $7.49 EPS. Analysts expect that Chubb Limited will post 28.82 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were paid a $1.02 dividend. 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 dividend payout ratio (DPR) is 14.28%.

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.