BNP PARIBAS ASSET MANAGEMENT Holding S.A. Cuts Position in Chubb Limited (NYSE:CB)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its holdings in shares of Chubb Limited (NYSE:CB) by 7.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 253,301 shares of the financial services provider’s stock after selling 21,257 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Chubb were worth $73,049,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in Chubb by 28,885.3% in the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after purchasing an additional 931,841 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Chubb by 4,559.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock valued at $243,641,000 after buying an additional 826,700 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Chubb by 14.8% during the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after purchasing an additional 457,881 shares during the period. Troy Asset Management Ltd acquired a new stake in Chubb during the 2nd quarter worth approximately $106,975,000. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new position in Chubb in the second quarter valued at $93,411,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CB. Royal Bank of Canada boosted their target price on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Piper Sandler raised their price objective on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Evercore ISI upped their target price on Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price objective on shares of Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Chubb currently has a consensus rating of “Hold” and a consensus price target of $287.37.

Chubb Stock Performance

Shares of CB opened at $285.35 on Friday. The firm has a market cap of $115.02 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 6.62 and a beta of 0.67. The business’s 50 day moving average is $287.54 and its two-hundred day moving average is $274.03. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 52-week low of $216.90 and a 52-week high of $302.05.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating the consensus estimate of $4.98 by $0.74. The business had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.95 EPS. Analysts forecast that Chubb Limited will post 21.77 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.28%. Chubb’s dividend payout ratio (DPR) is 14.91%.

Insider Activity at Chubb

In other news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. This trade represents a 5.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John J. Lupica sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the completion of the sale, the insider now owns 103,950 shares in the company, valued at $29,676,685.50. The trade was a 12.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,715 shares of company stock worth $23,803,540 in the last three months. 0.86% of the stock is owned by company insiders.

Chubb Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.