Sicart Associates LLC Sells 140 Shares of Chubb Limited $CB

Sicart Associates LLC cut its stake in shares of Chubb Limited (NYSE:CB) by 10.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,250 shares of the financial services provider’s stock after selling 140 shares during the period. Sicart Associates LLC’s holdings in Chubb were worth $362,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CB. GQG Partners LLC increased its holdings in shares of Chubb by 112.1% during the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock valued at $2,836,899,000 after acquiring an additional 4,964,298 shares in the last quarter. Nuveen LLC bought a new stake in Chubb in the 1st quarter worth about $562,221,000. Demars Financial Group LLC increased its holdings in Chubb by 16.4% in the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock worth $1,884,004,000 after buying an additional 878,177 shares in the last quarter. SG Americas Securities LLC increased its holdings in Chubb by 1,243.9% in the 1st quarter. SG Americas Securities LLC now owns 680,456 shares of the financial services provider’s stock worth $205,491,000 after buying an additional 629,822 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Chubb by 6.9% in the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after buying an additional 304,751 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CB shares. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and decreased their price objective for the company from $317.00 to $300.00 in a report on Friday, August 1st. Wells Fargo & Company decreased their price objective on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a report on Thursday, July 24th. Piper Sandler reissued a “neutral” rating and set a $283.00 price objective (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. UBS Group dropped their target price on Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a research report on Monday, July 28th. Finally, Hsbc Global Res cut Chubb from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chubb presently has an average rating of “Hold” and a consensus target price of $303.06.

Chubb Stock Up 0.9%

CB stock opened at $282.15 on Wednesday. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock has a market cap of $112.49 billion, a P/E ratio of 12.45, a PEG ratio of 3.16 and a beta of 0.56. The business’s 50-day moving average price is $274.00 and its 200-day moving average price is $282.44.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the previous year, the firm earned $5.38 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb’s payout ratio is presently 17.12%.

Insider Transactions at Chubb

In other news, Director Michael Corbat acquired 425 shares of Chubb stock in a transaction on Friday, July 25th. The shares were acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the purchase, the director directly owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is currently owned by insiders.

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.