Truist Financial Corp Acquires 7,231 Shares of Chubb Limited (NYSE:CB)

Truist Financial Corp increased its holdings in Chubb Limited (NYSE:CB) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,111 shares of the financial services provider’s stock after buying an additional 7,231 shares during the period. Truist Financial Corp’s holdings in Chubb were worth $52,804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CB. Continuum Advisory LLC raised its position in shares of Chubb by 56.5% in the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 35 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in Chubb in the third quarter valued at about $29,000. Raelipskie Partnership bought a new position in Chubb in the third quarter worth about $29,000. Sierra Ocean LLC bought a new position in Chubb in the fourth quarter worth about $29,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Chubb during the third quarter valued at about $30,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CB. Wells Fargo & Company cut their price objective on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price target on shares of Chubb in a report on Thursday, January 30th. Evercore ISI increased their price objective 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. boosted their target price on Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $325.00 target price on shares of Chubb in a research report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $295.73.

Chubb Stock Performance

NYSE CB opened at $264.49 on Tuesday. The stock has a market capitalization of $106.62 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 3.41 and a beta of 0.67. The stock has a 50-day moving average of $271.54 and a 200 day moving average of $279.63. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a twelve month low of $238.85 and a twelve month high of $302.05.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Sell-side analysts anticipate that Chubb Limited will post 21.66 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Friday, December 13th. Chubb’s payout ratio is 16.02%.

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.