Chubb Limited $CB Stock Sold by D.A. Davidson & CO.

D.A. Davidson & CO. reduced its holdings in shares of Chubb Limited (NYSE:CB) by 1.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 332,412 shares of the financial services provider’s stock after selling 6,252 shares during the quarter. D.A. Davidson & CO.’s holdings in Chubb were worth $108,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. XXEC Inc. bought a new position in shares of Chubb in the second quarter valued at approximately $228,226,000. Berkshire Hathaway Inc purchased a new position in Chubb in the second quarter worth $11,670,067,000. BlackRock Inc. purchased a new position in shares of Chubb in the 2nd quarter worth about $9,913,336,000. GQG Partners LLC bought a new position in Chubb during the second quarter valued at approximately $4,250,113,000. Finally, Bank of America Corp DE grew its holdings in shares of 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 valued at $1,599,868,000 after purchasing an additional 147,876 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb News Roundup

Here are the key news stories impacting Chubb this week:

• Positive Sentiment: Higher analyst price targets: Autonomous Research raised its target to $373 from $369, while TD Cowen increased its target to $379 from $360. The revisions suggest analysts see additional upside based on Chubb’s earnings strength and outlook. Autonomous Research Adjusts Price Target on Chubb TD Cowen Adjusts Price Target on Chubb
• Positive Sentiment: Buy rating from Roth MKM: Roth MKM initiated or reiterated a “Buy” view on Chubb, adding to the constructive analyst sentiment surrounding the insurer. Chubb Gets a Buy from Roth MKM
• Neutral Sentiment: Valuation remains under review: A comparison of Chubb with Tokio Marine is examining which property-and-casualty insurer offers better value. This may keep investor attention on valuation, growth, and profitability metrics rather than create a direct catalyst. CB or TKOMY: Which Is the Better Value Stock Right Now?
• Negative Sentiment: Executive stock sale: EVP Timothy Boroughs sold 13,596 shares worth approximately $4.85 million, reducing his direct position by about 71%. While insider sales do not necessarily indicate deteriorating fundamentals, the transaction can weigh on sentiment. SEC insider transaction filing
• Negative Sentiment: ETF selling: ETFs were reported as net sellers of Chubb shares on October 23, indicating some passive or institutional selling pressure. ETFs Are Net Sellers of Chubb

Insider Activity

In related news, 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 transaction of $1,897,500.00. Following the completion of the transaction, the director owned 12,803 shares in the company, valued at approximately $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy Boroughs sold 13,596 shares of the firm’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $356.77, for a total transaction of $4,850,644.92. Following the transaction, the executive vice president directly owned 5,588 shares of the company’s stock, valued at $1,993,630.76. The trade was a 70.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CB has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Chubb from $343.00 to $366.00 and gave the company an “equal weight” rating in a research report on Thursday, October 22nd. Atlantic Securities set a $301.00 price target on shares of Chubb in a report on Wednesday, July 15th. Barclays set a $387.00 target price on Chubb in a report on Tuesday, July 7th. Evercore reiterated an “outperform” rating and issued a $374.00 price target on shares of Chubb in a research note on Friday, July 10th. Finally, Piper Sandler lifted their price objective on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $362.78.

Chubb Price Performance

CB opened at $355.74 on Thursday. The stock has a market capitalization of $137.24 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.55 and a beta of 0.36. The company’s 50-day simple moving average is $342.49 and its two-hundred day simple moving average is $333.19. Chubb Limited has a 52-week low of $273.35 and a 52-week high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.35.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, topping analysts’ consensus estimates of $6.77 by $0.89. The business had revenue of $16.20 billion during 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 firm posted $7.49 EPS. As a group, analysts predict that Chubb Limited will post 28.49 EPS for the current year.

Chubb Announces Dividend

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