Chubb Limited $CB Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. reduced its stake in shares of Chubb Limited (NYSE:CB) by 4.3% in the 3rd quarter, Holdings Channel reports. The firm owned 915,648 shares of the financial services provider’s stock after selling 41,418 shares during the quarter. Chubb accounts for 2.4% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 12th largest holding. Beutel Goodman & Co Ltd.’s holdings in Chubb were worth $297,814,000 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 the stock. XXEC Inc. acquired a new stake in shares of Chubb in the second quarter valued at about $228,226,000. Berkshire Hathaway Inc bought a new position in shares of Chubb during the second quarter worth about $11,670,067,000. BlackRock Inc. bought a new position in shares of Chubb during the second quarter worth about $9,913,336,000. GQG Partners LLC bought a new position in shares of Chubb during the second quarter worth about $4,250,113,000. Finally, Bank of America Corp DE acquired a new position in shares of Chubb in the second quarter worth approximately $1,545,084,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 13,889 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $360.02, for a total transaction of $5,000,317.78. Following the transaction, the chief executive officer directly owned 277,274 shares in the company, valued at approximately $99,824,185.48. This represents a 4.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy Boroughs sold 13,596 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $356.77, for a total transaction of $4,850,644.92. Following the sale, the executive vice president directly owned 5,588 shares of the company’s stock, valued at approximately $1,993,630.76. This trade represents a 70.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 32,985 shares of company stock valued at $11,748,463. 0.37% of the stock is currently owned by company insiders.

Chubb Stock Down 0.4%

Shares of NYSE:CB opened at $363.38 on Tuesday. The company has a market capitalization of $138.84 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 1.73 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.28 and a quick ratio of 0.28. The business’s 50-day moving average is $346.50 and its 200-day moving average is $335.79. Chubb Limited has a 1 year low of $284.63 and a 1 year high of $384.26.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, beating the consensus estimate of $6.77 by $0.89. Chubb had a return on equity of 14.41% and a net margin of 18.15%. The company had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.66 billion. During the same quarter in the prior year, the company earned $7.49 EPS. Equities research analysts predict that Chubb Limited will post 28.89 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were paid a $1.02 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.1%. Chubb’s payout ratio is 14.28%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. HSBC reiterated a “hold” rating and issued a $359.00 target price on shares of Chubb in a report on Wednesday, October 7th. UBS Group restated a “neutral” rating and set a $380.00 price target on shares of Chubb in a report on Monday, October 26th. TD Cowen boosted their price target on shares of Chubb from $360.00 to $379.00 and gave the stock a “hold” rating in a research report on Wednesday, October 28th. JPMorgan Chase & Co. boosted their price target on shares of Chubb from $371.00 to $374.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Finally, Morgan Stanley upped their price objective on shares of Chubb from $350.00 to $360.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $362.78.

Chubb Company Profile

Chubb Limited is a global insurance company that provides property and casualty insurance, accident and health coverage, life insurance, and reinsurance. Its customers include individuals, businesses, and institutions, with products ranging from personal and commercial coverage to specialized insurance solutions.

The company serves customers across North America, Europe, Asia-Pacific, Latin America, and other markets. Its operations include underwriting, claims services, and risk management for a broad range of industries and personal insurance needs.

Chubb’s current corporate history dates to 2016, when ACE Limited acquired The Chubb Corporation and adopted the Chubb name.