Allspring Global Investments Holdings LLC Has $7.36 Million Holdings in Chubb Limited $CB

Allspring Global Investments Holdings LLC decreased its holdings in shares of Chubb Limited (NYSE:CB) by 14.9% during the 3rd quarter, Holdings Channel reports. The firm owned 26,169 shares of the financial services provider’s stock after selling 4,576 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Chubb were worth $7,364,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Harbor Capital Advisors Inc. boosted its stake in Chubb by 93.6% during the third quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 44 shares in the last quarter. VSM Wealth Advisory LLC bought a new stake in Chubb in the second quarter valued at $32,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Chubb during the third quarter valued at about $34,000. Maseco LLP bought a new position in shares of Chubb during the 2nd quarter worth about $35,000. Finally, 1248 Management LLC bought a new position in shares of Chubb during the 1st quarter worth about $41,000. 83.81% of the stock is currently owned by institutional investors.

Insider Activity at Chubb

In other news, EVP Joseph F. Wayland sold 5,830 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the transaction, the executive vice president owned 60,593 shares of the company’s stock, valued at approximately $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John J. Lupica sold 16,375 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $296.45, for a total value of $4,854,368.75. Following the completion of the sale, the insider owned 74,225 shares in the company, valued at $22,004,001.25. This trade represents a 18.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 57,333 shares of company stock worth $16,629,873. 0.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CB has been the topic of a number of research reports. Wolfe Research increased their price target on Chubb from $336.00 to $364.00 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Chubb in a report on Wednesday, December 10th. Jefferies Financial Group lifted their price target on shares of Chubb from $302.00 to $326.00 and gave the company a “hold” rating in a research report on Tuesday, December 16th. Keefe, Bruyette & Woods upped their price objective on shares of Chubb from $335.00 to $355.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus price target of $312.90.

Chubb Stock Performance

NYSE CB opened at $309.43 on Wednesday. The company has a market capitalization of $121.78 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 3.30 and a beta of 0.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $316.94. The company has a 50-day simple moving average of $299.51 and a 200 day simple moving average of $284.88.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. The business had revenue of $16.15 billion for the quarter, compared to analysts’ expectations of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $5.72 EPS. On average, research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, December 12th. Chubb’s dividend payout ratio is presently 16.19%.

Chubb Company Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.