Chubb Limited $CB Stock Position Raised by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lifted its stake in shares of Chubb Limited (NYSE:CB) by 14.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,346 shares of the financial services provider’s stock after acquiring an additional 2,096 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Chubb were worth $5,102,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Berkshire Hathaway Inc boosted its stake 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 worth $8,843,710,000 after acquiring an additional 4,299,111 shares in the last quarter. State Street Corp boosted its stake in shares of Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after acquiring an additional 68,553 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Chubb by 9.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock worth $1,426,475,000 after acquiring an additional 427,512 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Chubb by 11.6% during the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after acquiring an additional 513,852 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Chubb by 75.1% during the 3rd quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock worth $785,468,000 after acquiring an additional 1,199,963 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Chubb Stock Performance

Shares of Chubb stock opened at $324.20 on Friday. The stock has a market cap of $125.74 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.64 and a beta of 0.43. The business has a fifty day simple moving average of $326.19 and a 200-day simple moving average of $314.01. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The business had revenue of $14.93 billion during the quarter. On average, sell-side analysts anticipate that Chubb Limited will post 26.78 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Friday, March 13th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, March 13th. Chubb’s dividend payout ratio (DPR) is currently 13.70%.

Insider Activity

In related news, Director Olivier Steimer sold 2,000 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the sale, the director directly owned 25,468 shares in the company, valued at approximately $8,386,612.40. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Evercore raised their target price on Chubb from $347.00 to $349.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company raised their target price on Chubb from $321.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. UBS Group reaffirmed a “neutral” rating and issued a $340.00 target price on shares of Chubb in a research report on Monday, February 9th. Piper Sandler raised their target price on Chubb from $319.00 to $328.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings raised Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $349.33.

About Chubb

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.