Chubb Limited $CB Shares Sold by Belpointe Asset Management LLC

Belpointe Asset Management LLC reduced its stake in shares of Chubb Limited (NYSE:CB) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,885 shares of the financial services provider’s stock after selling 63 shares during the period. Belpointe Asset Management LLC’s holdings in Chubb were worth $546,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. GQG Partners LLC raised its position in shares of Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after purchasing an additional 4,964,298 shares during the last quarter. Demars Financial Group LLC raised its position in shares of Chubb by 16.4% during the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock worth $1,884,004,000 after purchasing an additional 878,177 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Chubb by 6.9% during the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after purchasing an additional 304,751 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Chubb by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider’s stock worth $840,756,000 after purchasing an additional 30,334 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Chubb in the 1st quarter valued at $562,221,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chubb news, Director Michael Corbat purchased 425 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the transaction, the director owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.77% of the company’s stock.

Chubb Stock Down 1.0%

Shares of Chubb stock opened at $284.13 on Friday. The company has a fifty day moving average price of $276.36 and a 200 day moving average price of $282.07. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The stock has a market cap of $113.28 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 3.23 and a beta of 0.54.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the prior year, the company earned $5.38 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb’s dividend payout ratio is 17.12%.

Analysts Set New Price Targets

Several research analysts have weighed in on CB shares. Cantor Fitzgerald upgraded Chubb to a “hold” rating in a report on Wednesday, August 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Chubb in a report on Wednesday. The Goldman Sachs Group boosted their price target on Chubb from $299.00 to $303.00 and gave the company a “neutral” rating in a report on Monday. Evercore ISI boosted their price target on Chubb from $312.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Finally, Hsbc Global Res downgraded Chubb from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, Chubb currently has an average rating of “Moderate Buy” and an average target price of $306.82.

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.