D.A. Davidson & CO. grew its holdings in shares of Chubb Limited (NYSE:CB – Free Report) by 36.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 335,949 shares of the financial services provider’s stock after purchasing an additional 90,337 shares during the quarter. D.A. Davidson & CO. owned approximately 0.08% of Chubb worth $97,331,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. North Capital Inc. purchased a new position in shares of Chubb in the first quarter worth about $26,000. IMA Advisory Services Inc. acquired a new stake in Chubb in the 1st quarter valued at about $31,000. 1248 Management LLC purchased a new position in Chubb in the 1st quarter worth approximately $31,000. WPG Advisers LLC acquired a new position in shares of Chubb during the 1st quarter worth approximately $33,000. Finally, Maseco LLP purchased a new stake in shares of Chubb in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.
Chubb Trading Up 0.4%
Shares of CB stock opened at $269.37 on Wednesday. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The firm has a market cap of $107.40 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 3.02 and a beta of 0.54. The company has a 50-day moving average of $277.33 and a two-hundred day moving average of $280.77. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.
Chubb Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb’s dividend payout ratio (DPR) is currently 17.12%.
Analyst Ratings Changes
A number of equities analysts recently commented on CB shares. Morgan Stanley reduced their price objective on Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Citigroup began coverage on Chubb in a report on Wednesday, August 13th. They set a “buy” rating and a $326.00 price target on the stock. Piper Sandler reissued a “neutral” rating and issued a $283.00 price objective (down previously from $335.00) on shares of Chubb in a report on Thursday, July 24th. HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and reduced their target price for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. Finally, Barclays increased their price target on shares of Chubb from $298.00 to $310.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $305.28.
Get Our Latest Stock Analysis on Chubb
Insider Buying and Selling at Chubb
In other news, Director Michael Corbat acquired 425 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director owned 2,450 shares of the company’s stock, valued at $661,010. This represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.86% of the company’s stock.
Chubb Company 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.
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