Anchor Investment Management LLC Sells 1,605 Shares of Chubb Limited (NYSE:CB)

Anchor Investment Management LLC lessened its position in shares of Chubb Limited (NYSE:CB) by 73.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 578 shares of the financial services provider’s stock after selling 1,605 shares during the quarter. Anchor Investment Management LLC’s holdings in Chubb were worth $167,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on CB. JMP Securities lifted their target price on Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. Piper Sandler upped their target price on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Barclays started coverage on shares of Chubb in a research report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their target price on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Chubb has an average rating of “Hold” and a consensus price target of $287.37.

Chubb Stock Up 0.6 %

Shares of NYSE CB opened at $276.06 on Friday. The business has a 50-day moving average price of $285.45 and a 200 day moving average price of $276.71. The stock has a market cap of $111.28 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 6.43 and a beta of 0.67. 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 data on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. During the same period in the previous year, the business posted $4.95 earnings per share. Chubb’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Chubb Limited will post 21.82 earnings per share for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.91 per share. The ex-dividend date is Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.32%. 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.