Banco Santander S.A. Cuts Stock Holdings in Chubb Limited (NYSE:CB)

Banco Santander S.A. lowered its position in shares of Chubb Limited (NYSE:CB) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,546 shares of the financial services provider’s stock after selling 152 shares during the quarter. Banco Santander S.A.’s holdings in Chubb were worth $6,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of CB. Parkside Financial Bank & Trust lifted its stake in Chubb by 0.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock worth $1,917,000 after purchasing an additional 40 shares in the last quarter. Steigerwald Gordon & Koch Inc. boosted its stake in Chubb by 1.9% during the second quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock valued at $543,000 after buying an additional 40 shares during the period. LVW Advisors LLC grew its position in Chubb by 0.3% during the third quarter. LVW Advisors LLC now owns 11,754 shares of the financial services provider’s stock worth $3,390,000 after buying an additional 40 shares in the last quarter. Wealth Effects LLC raised its position in Chubb by 3.0% during the third quarter. Wealth Effects LLC now owns 1,370 shares of the financial services provider’s stock valued at $395,000 after purchasing an additional 40 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. increased its stake in Chubb by 1.1% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,706 shares of the financial services provider’s stock worth $1,069,000 after purchasing an additional 40 shares during the period. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on CB. Jefferies Financial Group boosted their price target on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Bank of America lifted their price target on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on shares of Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Piper Sandler raised their price target on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Finally, Royal Bank of Canada increased their price objective on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $287.37.

Chubb Stock Performance

Shares of Chubb stock opened at $285.35 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The business’s 50 day moving average price is $287.54 and its 200 day moving average price is $274.03. The company has a market cap of $115.02 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 6.62 and a beta of 0.67. Chubb Limited has a one year low of $216.90 and a one year high of $302.05.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. During the same quarter in the previous year, the business earned $4.95 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts predict that Chubb Limited will post 21.77 EPS for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.28%. Chubb’s payout ratio is currently 14.91%.

Insider Buying and Selling at Chubb

In related news, EVP Joseph F. Wayland sold 6,599 shares of Chubb stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $287.06, for a total value of $1,894,308.94. Following the transaction, the executive vice president now directly owns 84,101 shares in the company, valued at $24,142,033.06. This trade represents a 7.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John J. Lupica sold 15,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total value of $4,282,350.00. Following the completion of the transaction, the insider now owns 103,950 shares of the company’s stock, valued at $29,676,685.50. The trade was a 12.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,715 shares of company stock valued at $23,803,540 in the last 90 days. 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.