Baldwin Investment Management LLC Reduces Stake in Chubb Limited (NYSE:CB)

Baldwin Investment Management LLC trimmed its position in shares of Chubb Limited (NYSE:CB) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,201 shares of the financial services provider’s stock after selling 240 shares during the quarter. Baldwin Investment Management LLC’s holdings in Chubb were worth $1,500,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Chubb by 7.3% in the 3rd quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock worth $4,492,103,000 after buying an additional 1,052,999 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Chubb by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock valued at $1,258,202,000 after purchasing an additional 63,891 shares in the last quarter. Legal & General Group Plc grew its position in shares of Chubb by 2.9% in the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock valued at $938,663,000 after purchasing an additional 104,986 shares during the last quarter. Raymond James & Associates increased its stake in shares of Chubb by 2.9% during the 2nd quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock worth $778,270,000 after purchasing an additional 87,059 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Chubb by 7.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,297,706 shares of the financial services provider’s stock worth $586,207,000 after purchasing an additional 160,335 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their target price on Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company increased their price objective on Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Piper Sandler boosted their target price 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. Barclays started coverage on shares of Chubb in a report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. Finally, JMP Securities lifted their price target on shares of Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $287.37.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total value of $4,282,350.00. Following the transaction, the insider now owns 103,950 shares in the company, valued at approximately $29,676,685.50. The trade was a 12.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares in the company, valued at $167,748,829.50. This represents a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 82,715 shares of company stock worth $23,803,540. Corporate insiders own 0.86% of the company’s stock.

Chubb Price Performance

Shares of Chubb stock opened at $288.51 on Wednesday. The business’s fifty day moving average price is $287.32 and its 200 day moving average price is $275.05. Chubb Limited has a twelve month low of $216.90 and a twelve month high of $302.05. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $116.30 billion, a P/E ratio of 11.81, a PEG ratio of 6.65 and a beta of 0.67.

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

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.26%. Chubb’s dividend payout ratio (DPR) is 14.91%.

About Chubb

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.