Chubb Limited $CB Shares Purchased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC grew its position in shares of Chubb Limited (NYSE:CB) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 209,489 shares of the financial services provider’s stock after buying an additional 8,267 shares during the period. CIBC Private Wealth Group LLC owned about 0.05% of Chubb worth $59,128,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. raised its position in shares of Chubb by 93.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 44 shares in the last quarter. Cedar Mountain Advisors LLC lifted its stake in Chubb by 155.6% during the third quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 56 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in Chubb in the second quarter worth $32,000. Cornerstone Planning Group LLC boosted its holdings in Chubb by 81.5% in the third quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 53 shares during the period. Finally, Heartwood Wealth Advisors LLC bought a new stake in Chubb during the third quarter valued at $34,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of research reports. UBS Group reissued a “neutral” rating and set a $340.00 target price on shares of Chubb in a report on Monday, February 9th. Jefferies Financial Group boosted their price objective on shares of Chubb from $326.00 to $333.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Evercore increased their price objective on shares of Chubb from $346.00 to $347.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Piper Sandler raised their target price on shares of Chubb from $283.00 to $319.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Finally, Cantor Fitzgerald lifted their target price on Chubb from $300.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $340.81.

Chubb Stock Performance

Shares of CB opened at $328.22 on Thursday. The firm has a fifty day moving average of $320.71 and a 200-day moving average of $300.75. The company has a market cap of $128.06 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 2.07 and a beta of 0.46. 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 1 year low of $264.10 and a 1 year high of $345.67.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $6.02 EPS. As a group, equities analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be paid a $0.97 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. Chubb’s dividend payout ratio (DPR) is presently 15.08%.

Insider Buying and Selling

In related news, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president directly owned 11,810 shares of the company’s stock, valued at $3,920,683.80. This represents a 70.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 15,060 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total value of $4,991,938.20. Following the completion of the sale, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. This represents a 2.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.77% of the company’s stock.

About Chubb

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.