Legacy Wealth Management LLC MS Acquires 1,966 Shares of Chubb Limited $CB

Legacy Wealth Management LLC MS raised its holdings in Chubb Limited (NYSE:CB) by 15.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,611 shares of the financial services provider’s stock after acquiring an additional 1,966 shares during the quarter. Chubb comprises approximately 1.2% of Legacy Wealth Management LLC MS’s holdings, making the stock its 17th largest position. Legacy Wealth Management LLC MS’s holdings in Chubb were worth $4,560,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Berkshire Hathaway Inc raised its holdings in shares of Chubb by 15.9% during the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after purchasing an additional 4,299,111 shares in the last quarter. Norges Bank acquired a new stake in shares of Chubb in the 2nd quarter valued at $1,195,137,000. AQR Capital Management LLC boosted its holdings in Chubb by 75.1% in the third quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock worth $785,468,000 after purchasing an additional 1,199,963 shares in the last quarter. Woodline Partners LP acquired a new position in Chubb during the third quarter worth $220,217,000. Finally, Amundi increased its position in Chubb by 55.4% during the third quarter. Amundi now owns 1,946,622 shares of the financial services provider’s stock worth $557,493,000 after buying an additional 693,740 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the transaction, the executive vice president directly owned 11,810 shares in the company, valued at $3,920,683.80. The trade was a 70.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 15,060 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total value of $4,991,938.20. Following the completion of the sale, the chief executive officer directly owned 511,576 shares of the company’s stock, valued at $169,572,096.72. This represents a 2.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.77% of the stock is owned by insiders.

Chubb Trading Down 1.4%

Shares of NYSE:CB opened at $323.50 on Friday. The company has a market cap of $126.22 billion, a P/E ratio of 12.57, a P/E/G ratio of 2.06 and a beta of 0.46. The stock’s 50-day moving average is $320.92 and its 200-day moving average is $300.91. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping the consensus estimate of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $11.11 billion. During the same quarter in the previous year, the firm earned $6.02 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, March 13th. Chubb’s payout ratio is currently 15.08%.

Analysts Set New Price Targets

A number of analysts have weighed in on CB shares. Citizens Jmp reaffirmed a “market outperform” rating and issued a $350.00 price target on shares of Chubb in a research report on Wednesday, February 4th. Barclays increased their price objective on Chubb from $317.00 to $339.00 and gave the company an “equal weight” rating in a report on Thursday, January 8th. Wolfe Research raised their price objective on Chubb from $364.00 to $372.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. boosted their target price on Chubb from $327.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Finally, Piper Sandler upped their target price on Chubb from $283.00 to $319.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $340.81.

Chubb Profile

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.