Chevy Chase Trust Holdings LLC Has $59.06 Million Position in Chubb Limited (NYSE:CB)

Chevy Chase Trust Holdings LLC lessened its holdings in Chubb Limited (NYSE:CB) by 9.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 204,800 shares of the financial services provider’s stock after selling 20,216 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Chubb were worth $59,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CB. Beacon Capital Management LLC increased its stake in Chubb by 76.4% in the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after buying an additional 42 shares during the period. Chilton Capital Management LLC acquired a new position in shares of Chubb in the second quarter worth $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Chubb during the second quarter worth $28,000. Kozak & Associates Inc. acquired a new stake in Chubb during the third quarter valued at $29,000. Finally, Truvestments Capital LLC purchased a new position in Chubb in the third quarter valued at about $30,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the subject of several research reports. Piper Sandler lifted their price target on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. JPMorgan Chase & Co. increased their price target on shares of Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Bank of America upped their price objective on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Morgan Stanley raised their target price on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, JMP Securities upped their price target on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $287.37.

Insider Transactions at Chubb

In other Chubb 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 completion of the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This trade represents a 5.19 % 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 link. Also, EVP Joseph F. Wayland sold 6,599 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $287.06, for a total transaction of $1,894,308.94. Following the completion of the sale, the executive vice president now directly owns 84,101 shares in the company, valued at approximately $24,142,033.06. The trade was a 7.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 67,454 shares of company stock valued at $19,446,155. Company insiders own 0.86% of the company’s stock.

Chubb Stock Up 0.4 %

NYSE CB opened at $289.91 on Tuesday. Chubb Limited has a twelve month low of $216.90 and a twelve month high of $302.05. The stock has a market cap of $116.86 billion, a PE ratio of 11.87, a PEG ratio of 6.73 and a beta of 0.67. The firm has a 50-day simple moving average of $287.30 and a 200 day simple moving average of $275.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.74. The company 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%. Chubb’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.95 EPS. On average, research analysts forecast that Chubb Limited will post 21.82 EPS for the current year.

Chubb Announces Dividend

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

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.