UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 302,106 Shares of Chubb Limited (NYSE:CB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Chubb Limited (NYSE:CB) by 11.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,387,160 shares of the financial services provider’s stock after selling 302,106 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.59% of Chubb worth $688,433,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CB. Pathway Financial Advisers LLC bought a new position in Chubb in the first quarter valued at approximately $25,000. Beacon Capital Management LLC increased its stake in Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Chilton Capital Management LLC bought a new position in Chubb in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC bought a new position in Chubb in the second quarter valued at approximately $28,000. Finally, Kozak & Associates Inc. bought a new position in Chubb in the third quarter valued at approximately $29,000. 83.81% of the stock is owned by institutional investors.

Chubb Price Performance

CB stock opened at $290.36 on Thursday. The firm has a market cap of $117.04 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 6.68 and a beta of 0.67. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12-month low of $216.90 and a 12-month high of $302.05. The company’s fifty day simple moving average is $287.34 and its 200 day simple moving average is $275.15.

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

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Friday, December 13th. Chubb’s dividend payout ratio (DPR) is currently 14.91%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CB shares. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Evercore ISI raised their target price on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler raised their target price on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods raised their target price on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Bank of America raised their target price on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $287.37.

Insider Buying and Selling at Chubb

In other news, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the completion of the sale, the director now directly owns 39,172 shares of the company’s stock, valued at $11,261,558.28. The trade was a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. The trade was a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,715 shares of company stock valued at $23,803,540. Corporate insiders own 0.86% of the company’s stock.

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.