BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 21,257 Shares of Chubb Limited (NYSE:CB)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its position in shares of Chubb Limited (NYSE:CB) by 7.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 253,301 shares of the financial services provider’s stock after selling 21,257 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.06% of Chubb worth $73,049,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. King Luther Capital Management Corp raised its stake in shares of Chubb by 2.3% in the third quarter. King Luther Capital Management Corp now owns 7,139 shares of the financial services provider’s stock worth $2,059,000 after purchasing an additional 160 shares during the last quarter. Cornerstone Advisors LLC increased its holdings in Chubb by 5.0% in the 3rd quarter. Cornerstone Advisors LLC now owns 20,900 shares of the financial services provider’s stock worth $6,027,000 after buying an additional 1,000 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in Chubb by 38.8% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,105 shares of the financial services provider’s stock worth $3,790,000 after buying an additional 3,661 shares during the last quarter. Payden & Rygel lifted its stake in Chubb by 0.5% during the 3rd quarter. Payden & Rygel now owns 77,670 shares of the financial services provider’s stock valued at $22,399,000 after acquiring an additional 400 shares during the period. Finally, Moors & Cabot Inc. boosted its holdings in shares of Chubb by 7.7% during the 3rd quarter. Moors & Cabot Inc. now owns 11,825 shares of the financial services provider’s stock valued at $3,410,000 after acquiring an additional 845 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Performance

NYSE CB opened at $285.35 on Friday. The business has a 50-day moving average price of $287.54 and a 200-day moving average price of $274.03. The firm has a market cap of $115.02 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 6.62 and a beta of 0.67. Chubb Limited has a twelve month low of $216.90 and a twelve month high of $302.05. 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 (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $14.16 billion. During the same period last year, the firm posted $4.95 EPS. The company’s revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts predict that Chubb Limited will post 21.77 EPS for the current fiscal year.

Chubb Dividend Announcement

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 1.28%. Chubb’s payout ratio is currently 14.91%.

Insider Buying and Selling at Chubb

In related news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the sale, the director now owns 39,172 shares of the company’s stock, valued at $11,261,558.28. This represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the completion of the transaction, the insider now directly owns 103,950 shares of the company’s stock, valued at $29,676,685.50. The trade was a 12.61 % decrease in their ownership of the stock. 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. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CB. Piper Sandler boosted their price objective on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Jefferies Financial Group increased their price target on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. JMP Securities lifted their price objective on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price target on Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $287.37.

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.