Fifth Third Bancorp Lowers Stock Position in Chubb Limited (NYSE:CB)

Fifth Third Bancorp lessened its stake in Chubb Limited (NYSE:CB) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,359 shares of the financial services provider’s stock after selling 8,742 shares during the period. Fifth Third Bancorp’s holdings in Chubb were worth $52,320,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CB. APG Asset Management N.V. lifted its stake in Chubb by 50.1% during the second quarter. APG Asset Management N.V. now owns 280,286 shares of the financial services provider’s stock worth $66,709,000 after purchasing an additional 93,600 shares during the last quarter. MBB Public Markets I LLC raised its holdings in shares of Chubb by 2,580.8% during the 2nd quarter. MBB Public Markets I LLC now owns 29,650 shares of the financial services provider’s stock valued at $7,563,000 after buying an additional 28,544 shares in the last quarter. Legal & General Group Plc lifted its position in Chubb by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after buying an additional 104,986 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Chubb in the second quarter worth approximately $459,000. Finally, Murchinson Ltd. bought a new position in Chubb during the second quarter valued at approximately $797,000. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of a number of research reports. Evercore ISI upped their price objective on shares of Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Bank of America boosted their target price on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Piper Sandler raised their price target on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company lowered their price objective on Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Chubb currently has an average rating of “Hold” and a consensus target price of $288.17.

Chubb Trading Up 0.1 %

NYSE CB opened at $266.71 on Friday. The stock’s 50 day moving average is $276.67 and its 200 day moving average is $278.56. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $107.51 billion, a PE ratio of 10.92, a P/E/G ratio of 7.23 and a beta of 0.67. Chubb Limited has a twelve month low of $238.85 and a twelve month high of $302.05.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. During the same quarter in the prior year, the company earned $4.95 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Research analysts forecast that Chubb Limited will post 21.95 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, December 13th. Chubb’s payout ratio is 14.91%.

Chubb 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.