Generali Asset Management SPA SGR Has $8.05 Million Stock Holdings in Chubb Limited $CB

Generali Asset Management SPA SGR grew its stake in shares of Chubb Limited (NYSE:CB) by 11.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 27,773 shares of the financial services provider’s stock after buying an additional 2,934 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Chubb were worth $8,046,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CB. Opal Wealth Advisors LLC acquired a new position in Chubb during the 1st quarter worth approximately $25,000. North Capital Inc. bought a new stake in shares of Chubb during the first quarter valued at approximately $26,000. IMA Advisory Services Inc. acquired a new position in shares of Chubb during the first quarter worth approximately $31,000. 1248 Management LLC bought a new position in shares of Chubb in the 1st quarter worth $31,000. Finally, WPG Advisers LLC acquired a new stake in Chubb in the 1st quarter valued at $33,000. Institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CB. Bank of America upped their price objective on shares of Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a report on Monday. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $324.00 to $333.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Piper Sandler restated a “neutral” rating and issued a $283.00 target price (down previously from $335.00) on shares of Chubb in a report on Thursday, July 24th. Citigroup began coverage on Chubb in a research note on Wednesday, August 13th. They set a “buy” rating and a $326.00 price target for the company. Finally, Barclays boosted their price objective on Chubb from $298.00 to $310.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $305.28.

Chubb Stock Up 0.7%

Chubb stock opened at $284.60 on Wednesday. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The firm’s 50-day simple moving average is $277.30 and its 200 day simple moving average is $281.72. The stock has a market cap of $113.47 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 3.15 and a beta of 0.54.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter last year, the firm earned $5.38 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb’s payout ratio is currently 17.12%.

Insider Transactions at Chubb

In other Chubb news, Director Michael Corbat bought 425 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the transaction, the director directly owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.86% of the stock is owned by company insiders.

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.