Chubb Limited (NYSE:CB) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its stake in Chubb Limited (NYSE:CB) by 7.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 193,562 shares of the financial services provider’s stock after selling 15,589 shares during the quarter. Truist Financial Corp’s holdings in Chubb were worth $49,374,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the company. Capital World Investors raised its holdings in Chubb by 6.6% in the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after acquiring an additional 685,677 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after purchasing an additional 2,064,730 shares during the period. Ameriprise Financial Inc. raised its position in shares of Chubb by 1.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after buying an additional 63,891 shares in the last quarter. Legal & General Group Plc increased its position in shares of Chubb by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock valued at $938,663,000 after purchasing an additional 104,986 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in Chubb by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after acquiring an additional 457,881 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CB shares. William Blair downgraded Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. Bank of America upped their price target on Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Morgan Stanley dropped their price objective on Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. JMP Securities boosted their price objective on Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their price target on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $274.70.

Insiders Place Their Bets

In related news, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at $167,748,829.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of the business’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 value of $8,780,092.80. Following the transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,636 shares of company stock worth $24,874,208. Corporate insiders own 0.86% of the company’s stock.

Chubb Price Performance

CB opened at $291.33 on Thursday. Chubb Limited has a 12 month low of $204.15 and a 12 month high of $294.18. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. The stock has a market cap of $118.30 billion, a P/E ratio of 12.93, a P/E/G ratio of 5.74 and a beta of 0.66. The company has a fifty day simple moving average of $280.30 and a 200 day simple moving average of $265.38.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.34. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. Chubb’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.92 EPS. On average, research analysts expect that Chubb Limited will post 21.21 EPS for the current year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Friday, September 13th. Chubb’s payout ratio is presently 16.16%.

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.