Somerset Trust Co Raises Position in Chubb Limited (NYSE:CB)

Somerset Trust Co boosted its position in Chubb Limited (NYSE:CB) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,253 shares of the financial services provider’s stock after purchasing an additional 158 shares during the period. Chubb comprises approximately 1.5% of Somerset Trust Co’s holdings, making the stock its 24th largest position. Somerset Trust Co’s holdings in Chubb were worth $3,938,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of Chubb by 7.3% during the 3rd quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock worth $4,492,103,000 after purchasing an additional 1,052,999 shares during the period. International Assets Investment Management LLC grew its position in Chubb by 28,885.3% during the third quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after buying an additional 931,841 shares during the period. Assenagon Asset Management S.A. increased its holdings in Chubb by 4,559.3% in the third 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 in the last quarter. Troy Asset Management Ltd acquired a new stake in shares of Chubb during the 2nd quarter valued at approximately $106,975,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Chubb by 49.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock worth $338,070,000 after acquiring an additional 389,343 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Chubb from $294.00 to $296.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Evercore ISI boosted their price objective on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler raised their target price on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. JMP Securities upped their price target on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley raised their price objective on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Chubb has an average rating of “Hold” and an average price target of $288.17.

Chubb Stock Down 1.5 %

Shares of CB opened at $269.38 on Friday. The firm has a market cap of $108.59 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 5.65 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. The company’s fifty day moving average is $278.13 and its two-hundred day moving average is $278.06. Chubb Limited has a fifty-two week low of $226.74 and a fifty-two 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. The firm had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.95 earnings per share. Analysts forecast that Chubb Limited will post 21.93 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were issued a $0.91 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.64 annualized dividend and a yield of 1.35%. Chubb’s payout ratio is 14.91%.

Chubb Company 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.