Synovus Financial Corp Boosts Stake in Chubb Limited (NYSE:CB)

Synovus Financial Corp lifted its holdings in shares of Chubb Limited (NYSE:CB) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,503 shares of the financial services provider’s stock after buying an additional 297 shares during the period. Synovus Financial Corp’s holdings in Chubb were worth $8,797,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Beacon Capital Management LLC lifted its holdings in shares of Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after buying an additional 42 shares during the period. Chilton Capital Management LLC purchased a new stake in Chubb during the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC bought a new position in Chubb in the second quarter worth approximately $28,000. Continuum Advisory LLC raised its position in Chubb by 56.5% in the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 35 shares during the period. Finally, Kozak & Associates Inc. purchased a new position in shares of Chubb during the 3rd quarter worth $29,000. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays initiated coverage on Chubb in a report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. Evercore ISI raised their price objective on Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler lifted their price objective on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Bank of America increased their target price on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Chubb presently has an average rating of “Hold” and an average price target of $287.37.

Chubb Trading Up 0.6 %

Shares of CB opened at $276.06 on Friday. Chubb Limited has a fifty-two week low of $216.90 and a fifty-two week high of $302.05. 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 company’s fifty day moving average is $285.45 and its 200 day moving average is $276.71. The stock has a market capitalization of $111.28 billion, a PE ratio of 11.30, a P/E/G ratio of 6.43 and a beta of 0.67.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $14.16 billion. During the same period in the prior year, the company earned $4.95 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts expect that Chubb Limited will post 21.82 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, December 13th. Chubb’s dividend payout ratio is currently 14.91%.

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.