Allspring Global Investments Holdings LLC Has $48.09 Million Stock Position in Chubb Limited $CB

Allspring Global Investments Holdings LLC boosted its position in shares of Chubb Limited (NYSE:CB) by 27.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 146,995 shares of the financial services provider’s stock after purchasing an additional 31,855 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Chubb were worth $48,091,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 49 shares in the last quarter. Frazier Financial Advisors LLC raised its position in Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Merkkuri Wealth Advisors LLC bought a new position in Chubb in the 1st quarter valued at $29,000. Laurel Wealth Advisors LLC acquired a new position in Chubb in the fourth quarter worth $31,000. Finally, Ares Financial Consulting LLC acquired a new position in Chubb in the fourth quarter worth $32,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chubb

In other Chubb news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CB shares. Wolfe Research raised their target price on Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Mizuho upped their price target on shares of Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Cantor Fitzgerald increased their price objective on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Bank of America decreased their price objective on shares of Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Finally, The Goldman Sachs Group boosted their target price on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Chubb has an average rating of “Hold” and a consensus target price of $357.73.

Chubb Stock Performance

Chubb stock opened at $352.07 on Friday. The company has a market cap of $136.55 billion, a PE ratio of 12.43, a PEG ratio of 1.82 and a beta of 0.40. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $365.29. The company’s 50-day moving average is $332.32 and its two-hundred day moving average is $325.68.

Chubb (NYSE:CB) last released its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The firm had revenue of $14.93 billion during the quarter. Equities analysts anticipate that Chubb Limited will post 26.75 earnings per share for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, June 12th. Chubb’s payout ratio is presently 14.41%.

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.