Somerset Trust Co Raises Position in Chubb Limited (NYSE:CB)

Somerset Trust Co lifted its stake in shares of Chubb Limited (NYSE:CB) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,253 shares of the financial services provider’s stock after buying an additional 158 shares during the quarter. Chubb accounts for approximately 1.5% of Somerset Trust Co’s holdings, making the stock its 24th largest holding. Somerset Trust Co’s holdings in Chubb were worth $3,938,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CB. FMR LLC raised its stake in shares of Chubb by 7.3% during the third quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock valued at $4,492,103,000 after purchasing an additional 1,052,999 shares during the period. International Assets Investment Management LLC grew its holdings in 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 purchasing an additional 931,841 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Chubb by 4,559.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock valued at $243,641,000 after purchasing an additional 826,700 shares in the last quarter. Troy Asset Management Ltd purchased a new stake in Chubb during the 2nd quarter worth $106,975,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Chubb by 49.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock worth $338,070,000 after buying an additional 389,343 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

Shares of NYSE CB opened at $269.38 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $108.59 billion, a PE ratio of 11.03, a P/E/G ratio of 5.65 and a beta of 0.67. Chubb Limited has a 1-year low of $226.74 and a 1-year high of $302.05. The business’s fifty day moving average price is $278.13 and its two-hundred day moving average price is $278.06.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.74. The business had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.95 EPS. On average, research analysts expect that Chubb Limited will post 21.93 EPS for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.35%. Chubb’s dividend payout ratio (DPR) is presently 14.91%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Piper Sandler lifted their target price on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. JMP Securities lifted their price objective on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company reduced their target price on Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research note on Tuesday. Barclays dropped their price target on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley increased their price objective on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $288.17.

About Chubb

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.