Raymond James & Associates Has $766.43 Million Stock Holdings in Chubb Limited (NYSE:CB)

Raymond James & Associates lowered its position in shares of Chubb Limited (NYSE:CB) by 12.9% in the third quarter, Holdings Channel reports. The firm owned 2,657,618 shares of the financial services provider’s stock after selling 393,463 shares during the period. Raymond James & Associates’ holdings in Chubb were worth $766,430,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Capital Research Global Investors grew its position in shares of Chubb by 44.4% in the 1st quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after purchasing an additional 2,064,730 shares during the period. Capital World Investors lifted its stake in Chubb by 6.6% in the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after buying an additional 685,677 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Chubb by 14.8% in the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after buying an additional 457,881 shares during the period. Troy Asset Management Ltd bought a new stake in shares of Chubb during the second quarter worth $106,975,000. Finally, Van Lanschot Kempen Investment Management N.V. acquired a new stake in shares of Chubb during the second quarter worth $93,411,000. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley lowered their target price on Chubb from $260.00 to $259.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Roth Mkm increased their price objective on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Bank of America lifted their target price on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Barclays assumed coverage on Chubb in a research report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target for the company. Finally, Piper Sandler boosted their price objective on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $282.37.

Insider Transactions at Chubb

In other news, Director Michael G. Atieh sold 261 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total transaction of $75,034.89. Following the transaction, the director now owns 39,172 shares in the company, valued at approximately $11,261,558.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the transaction, the director now directly owns 39,172 shares in the company, valued at approximately $11,261,558.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the completion of the sale, the executive vice president now owns 44,632 shares of the company’s stock, valued at $12,187,213.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,636 shares of company stock worth $24,874,208 over the last quarter. Company insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of CB stock traded down $0.23 during trading on Friday, reaching $301.66. 1,705,625 shares of the company’s stock were exchanged, compared to its average volume of 1,618,688. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $122.49 billion, a PE ratio of 13.39, a PEG ratio of 5.87 and a beta of 0.66. Chubb Limited has a twelve month low of $205.64 and a twelve month high of $302.05. The firm’s fifty day moving average price is $284.79 and its 200-day moving average price is $267.91.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, beating the consensus estimate of $5.04 by $0.34. The firm had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.92 earnings per share. As a group, sell-side analysts anticipate that Chubb Limited will post 21.32 EPS for the current year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.21%. Chubb’s dividend payout ratio (DPR) is presently 16.16%.

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.