Legal & General Group Plc Has $731.79 Million Stock Position in Chubb Limited (NYSE:CB)

Legal & General Group Plc lessened its holdings in Chubb Limited (NYSE:CB) by 22.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,648,526 shares of the financial services provider’s stock after selling 763,242 shares during the quarter. Legal & General Group Plc’s holdings in Chubb were worth $731,788,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Chubb by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider’s stock valued at $10,072,097,000 after purchasing an additional 271,648 shares during the period. FMR LLC raised its position in shares of Chubb by 0.6% in the fourth quarter. FMR LLC now owns 15,668,377 shares of the financial services provider’s stock valued at $4,329,173,000 after buying an additional 91,892 shares in the last quarter. GQG Partners LLC boosted its stake in shares of Chubb by 36.3% in the fourth quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock valued at $1,223,932,000 after buying an additional 1,178,628 shares during the period. Norges Bank bought a new position in Chubb during the 4th quarter worth $1,169,720,000. Finally, Raymond James Financial Inc. acquired a new position in Chubb in the 4th quarter valued at $1,158,897,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CB has been the topic of several analyst reports. Piper Sandler increased their target price on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Barclays reduced their price objective on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 price target on shares of Chubb in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price objective on shares of Chubb in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $303.14.

Chubb Price Performance

Shares of CB opened at $280.74 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The stock has a market cap of $112.41 billion, a PE ratio of 12.36, a PEG ratio of 3.36 and a beta of 0.47. Chubb Limited has a 12-month low of $238.85 and a 12-month high of $306.91. The business has a 50-day simple moving average of $282.25 and a two-hundred day simple moving average of $281.69.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. Analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Friday, March 14th. Chubb’s payout ratio is currently 16.02%.

Insider Transactions at Chubb

In other news, EVP Timothy Alan Boroughs sold 14,748 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the completion of the sale, the executive vice president now directly owns 29,194 shares in the company, valued at $8,644,927.28. This represents a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joseph F. Wayland sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the transaction, the executive vice president now owns 77,703 shares in the company, valued at approximately $22,297,652.88. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,470 shares of company stock worth $18,562,730. Company 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.