Assenagon Asset Management S.A. Boosts Stake in Chubb Limited (NYSE:CB)

Assenagon Asset Management S.A. grew its stake in shares of Chubb Limited (NYSE:CB) by 4,559.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 844,832 shares of the financial services provider’s stock after buying an additional 826,700 shares during the period. Assenagon Asset Management S.A.’s holdings in Chubb were worth $243,641,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Pathway Financial Advisers LLC purchased a new stake in shares of Chubb in the first quarter valued at $25,000. Beacon Capital Management LLC grew its holdings in Chubb by 76.4% in the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after buying an additional 42 shares during the period. Chilton Capital Management LLC acquired a new position in shares of Chubb during the 2nd quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Chubb during the 2nd quarter worth about $28,000. Finally, Wellington Shields Capital Management LLC acquired a new stake in shares of Chubb in the first quarter worth approximately $29,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Chubb news, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the sale, the director now owns 39,172 shares in the company, valued at $11,261,558.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,636 shares of company stock worth $24,874,208. Corporate insiders own 0.86% of the company’s stock.

Chubb Stock Down 0.3 %

CB stock traded down $0.78 during trading on Thursday, reaching $294.22. The stock had a trading volume of 272,254 shares, compared to its average volume of 1,606,610. The firm has a fifty day moving average price of $286.43 and a 200 day moving average price of $268.90. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $119.47 billion, a P/E ratio of 13.09, a PEG ratio of 5.87 and a beta of 0.66. Chubb Limited has a 1-year low of $207.46 and a 1-year high of $302.05.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating the consensus estimate of $5.04 by $0.34. The company had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.92 EPS. On average, equities analysts anticipate that Chubb Limited will post 21.32 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were paid a $0.91 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.24%. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America increased their price target on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their target price on Chubb from $255.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. William Blair downgraded Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday, June 28th. Royal Bank of Canada upped their price target on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Piper Sandler increased their target price on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $282.37.

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.