Allspring Global Investments Holdings LLC Boosts Stock Position in Chubb Limited $CB

Allspring Global Investments Holdings LLC grew its position in Chubb Limited (NYSE:CB) by 340.0% during the fourth quarter, Holdings Channel reports. The firm owned 115,140 shares of the financial services provider’s stock after acquiring an additional 88,971 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Chubb were worth $35,700,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CB. Spire Wealth Management grew its holdings in Chubb by 490.5% during the fourth quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider’s stock worth $2,689,000 after acquiring an additional 7,156 shares during the period. Chesley Taft & Associates LLC lifted its stake in shares of Chubb by 7.4% in the 4th quarter. Chesley Taft & Associates LLC now owns 102,427 shares of the financial services provider’s stock valued at $31,970,000 after purchasing an additional 7,043 shares during the period. Pallas Capital Advisors LLC lifted its stake in shares of Chubb by 42.3% in the 4th quarter. Pallas Capital Advisors LLC now owns 14,243 shares of the financial services provider’s stock valued at $4,446,000 after purchasing an additional 4,233 shares during the period. Westbourne Investment Advisors Inc. boosted its holdings in Chubb by 12.3% during the third quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider’s stock worth $6,275,000 after buying an additional 2,427 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in Chubb during the third quarter valued at $3,123,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Performance

Shares of NYSE:CB opened at $328.55 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The firm has a market capitalization of $128.21 billion, a PE ratio of 12.77, a P/E/G ratio of 1.74 and a beta of 0.49. The business’s 50 day moving average price is $325.53 and its 200-day moving average price is $304.16.

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

Chubb Dividend Announcement

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

Insider Buying and Selling at Chubb

In related news, Director Olivier Steimer sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the sale, the director owned 25,468 shares of the company’s stock, valued at approximately $8,386,612.40. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the sale, the executive vice president owned 11,810 shares of the company’s stock, valued at approximately $3,920,683.80. The trade was a 70.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 44,877 shares of company stock worth $14,885,226. Insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

CB has been the subject of a number of recent analyst reports. Bank of America cut their price objective on shares of Chubb from $279.00 to $259.00 and set an “underperform” rating for the company in a report on Friday, January 16th. Wells Fargo & Company lifted their price target on Chubb from $305.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. The Goldman Sachs Group upped their price target on Chubb from $366.00 to $368.00 and gave the stock a “buy” rating in a report on Monday. Citigroup increased their price target on Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $350.00 price objective on shares of Chubb in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $342.14.

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.