Truist Financial Corp Sells 3,128 Shares of Chubb Limited $CB
by Kim Johansen · The Markets DailyTruist Financial Corp lessened its holdings in Chubb Limited (NYSE:CB – Free Report) by 1.7% during the third quarter, HoldingsChannel.com reports. The firm owned 176,959 shares of the financial services provider’s stock after selling 3,128 shares during the period. Truist Financial Corp’s holdings in Chubb were worth $49,947,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CB. Harbor Capital Advisors Inc. increased its position in shares of Chubb by 93.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 44 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Chubb by 155.6% in the third quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock valued at $26,000 after buying an additional 56 shares in the last quarter. VSM Wealth Advisory LLC acquired a new position in Chubb during the second quarter worth $32,000. Heartwood Wealth Advisors LLC acquired a new position in Chubb during the third quarter worth $34,000. Finally, Financial Consulate Inc. acquired a new stake in Chubb in the third quarter valued at $37,000. Institutional investors own 83.81% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on CB. Morgan Stanley set a $350.00 price objective on shares of Chubb in a research note on Friday, January 16th. Wells Fargo & Company boosted their price target on Chubb from $293.00 to $305.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Jefferies Financial Group raised their price objective on Chubb from $302.00 to $326.00 and gave the company a “hold” rating in a research report on Tuesday, December 16th. BMO Capital Markets reiterated a “market perform” rating and set a $283.00 target price on shares of Chubb in a research note on Thursday, October 23rd. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of Chubb in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.00.
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Chubb Stock Performance
Shares of NYSE CB opened at $306.02 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market cap of $120.43 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 1.94 and a beta of 0.51. The stock’s fifty day moving average price is $304.57 and its two-hundred day moving average price is $287.22. Chubb Limited has a one year low of $263.14 and a one year high of $316.94.
Chubb Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, December 12th. Chubb’s dividend payout ratio is presently 16.19%.
Insider Transactions at Chubb
In other Chubb news, EVP Joseph F. Wayland sold 5,830 shares of Chubb stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $297.08, for a total value of $1,731,976.40. Following the completion of the transaction, the executive vice president directly owned 60,593 shares of the company’s stock, valued at $18,000,968.44. The trade was a 8.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John J. Lupica sold 16,375 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $296.45, for a total value of $4,854,368.75. Following the sale, the insider directly owned 74,225 shares in the company, valued at approximately $22,004,001.25. This trade represents a 18.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 33,635 shares of company stock valued at $9,970,735. 0.77% of the stock is currently owned by company insiders.
Chubb Profile
Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.
In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.
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Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB – Free Report).