Payden & Rygel Sells 6,300 Shares of Chubb Limited (NYSE:CB)

Payden & Rygel cut its stake in Chubb Limited (NYSE:CB) by 8.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,370 shares of the financial services provider’s stock after selling 6,300 shares during the period. Chubb makes up approximately 1.7% of Payden & Rygel’s holdings, making the stock its 17th biggest position. Payden & Rygel’s holdings in Chubb were worth $19,720,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Chubb in the fourth quarter valued at $1,169,720,000. Raymond James Financial Inc. bought a new stake in Chubb in the 4th quarter valued at $1,158,897,000. GQG Partners LLC lifted its holdings in shares of Chubb by 36.3% during the 4th quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock worth $1,223,932,000 after acquiring an additional 1,178,628 shares during the period. Beutel Goodman & Co Ltd. boosted its position in shares of Chubb by 1,007,698.0% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 1,007,798 shares of the financial services provider’s stock valued at $278,454,000 after acquiring an additional 1,007,698 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its stake in Chubb by 41,494.7% in the fourth quarter. Proficio Capital Partners LLC now owns 812,761 shares of the financial services provider’s stock valued at $224,566,000 after acquiring an additional 810,807 shares during the period. 83.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Piper Sandler boosted their price target on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday. HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, Barclays dropped their target price on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $303.14.

Insider Buying and Selling at Chubb

In other Chubb news, CAO George F. Ohsiek sold 763 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the transaction, the chief accounting officer now owns 20,044 shares in the company, valued at approximately $5,820,978.04. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 12,231 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $294.82, for a total value of $3,605,943.42. Following the transaction, the executive vice president now owns 78,422 shares of the company’s stock, valued at $23,120,374.04. The trade was a 13.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is currently owned by insiders.

Chubb Stock Down 7.2 %

Shares of CB opened at $280.74 on Friday. The business’s fifty day moving average price is $282.25 and its two-hundred day moving average price is $281.81. The firm has a market capitalization of $112.41 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 3.36 and a beta of 0.66. Chubb Limited has a 52 week low of $238.85 and a 52 week high of $306.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. On average, analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued a $0.91 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.64 annualized dividend and a yield of 1.30%. Chubb’s dividend payout ratio is currently 16.02%.

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.