Berkshire Bank Sells 215 Shares of Chubb Limited (NYSE:CB)

Berkshire Bank decreased its holdings in shares of Chubb Limited (NYSE:CB) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,706 shares of the financial services provider’s stock after selling 215 shares during the period. Chubb makes up about 1.0% of Berkshire Bank’s portfolio, making the stock its 23rd largest position. Berkshire Bank’s holdings in Chubb were worth $4,340,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC increased its stake in Chubb by 13.8% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,651 shares of the financial services provider’s stock valued at $456,000 after buying an additional 200 shares during the last quarter. Parsons Capital Management Inc. RI grew its stake in Chubb by 3.0% in the 4th quarter. Parsons Capital Management Inc. RI now owns 4,837 shares of the financial services provider’s stock valued at $1,337,000 after buying an additional 140 shares in the last quarter. McLean Asset Management Corp lifted its holdings in Chubb by 11.0% during the 4th quarter. McLean Asset Management Corp now owns 1,119 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 111 shares in the last quarter. Webster Bank N. A. grew its stake in Chubb by 1.3% during the fourth quarter. Webster Bank N. A. now owns 5,020 shares of the financial services provider’s stock valued at $1,387,000 after acquiring an additional 63 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Chubb by 14.3% in the 4th quarter. Pacer Advisors Inc. now owns 49,206 shares of the financial services provider’s stock valued at $13,596,000 after acquiring an additional 6,174 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CB. Piper Sandler raised their price target on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Barclays reduced their price target on Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $320.00 to $328.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Bank of America increased their price objective on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company cut their price target on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $288.17.

Chubb Stock Performance

NYSE CB opened at $276.48 on Tuesday. The stock has a market capitalization of $111.45 billion, a PE ratio of 11.32, a P/E/G ratio of 7.23 and a beta of 0.67. The business has a 50 day simple moving average of $276.24 and a two-hundred day simple moving average of $278.99. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $238.85 and a 1-year high of $302.05.

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

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Friday, December 13th. Chubb’s payout ratio is currently 14.91%.

Chubb Company 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.