Conning Inc. Purchases 929 Shares of Chubb Limited (NYSE:CB)

Conning Inc. raised its position in shares of Chubb Limited (NYSE:CB) by 30.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,932 shares of the financial services provider’s stock after purchasing an additional 929 shares during the quarter. Conning Inc.’s holdings in Chubb were worth $1,134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital Research Global Investors increased its position in Chubb by 44.4% in the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after buying an additional 2,064,730 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Chubb by 28,885.3% during the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock valued at $2,696,640,000 after acquiring an additional 931,841 shares during the period. Assenagon Asset Management S.A. increased its holdings in Chubb by 4,559.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock worth $243,641,000 after acquiring an additional 826,700 shares in the last quarter. Capital World Investors raised its stake in Chubb by 6.6% during the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after acquiring an additional 685,677 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in Chubb by 14.8% during the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after purchasing an additional 457,881 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In other news, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the completion of the sale, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Juan Luis Ortega sold 3,921 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the transaction, the executive vice president now owns 44,632 shares in the company, valued at $12,187,213.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the sale, the chief executive officer now owns 553,664 shares in the company, valued at approximately $160,341,094.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,636 shares of company stock worth $24,874,208. 0.86% of the stock is owned by corporate insiders.

Chubb Stock Performance

Shares of CB opened at $277.41 on Friday. Chubb Limited has a 12 month low of $215.54 and a 12 month high of $302.05. The stock has a fifty day moving average price of $288.23 and a 200-day moving average price of $270.82. The company has a current ratio of 0.35, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The firm has a market cap of $112.11 billion, a PE ratio of 11.36, a P/E/G ratio of 5.86 and a beta of 0.66.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.16 billion. During the same period last year, the business posted $4.95 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts predict that Chubb Limited will post 21.42 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.31%. The ex-dividend date was Friday, September 13th. Chubb’s dividend payout ratio is presently 14.91%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Evercore ISI boosted their price objective on Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley boosted their price target on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday. Piper Sandler increased their price objective on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Barclays initiated coverage on shares of Chubb in a report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chubb currently has a consensus rating of “Hold” and an average price target of $287.26.

Chubb Profile

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.