Alerus Financial NA Has $491,000 Stake in Chubb Limited (NYSE:CB)

Alerus Financial NA lessened its stake in shares of Chubb Limited (NYSE:CB) by 7.1% during the third quarter, Holdings Channel reports. The fund owned 1,703 shares of the financial services provider’s stock after selling 130 shares during the quarter. Alerus Financial NA’s holdings in Chubb were worth $491,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. FMR LLC increased its stake in Chubb by 7.3% in the third quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock valued at $4,492,103,000 after purchasing an additional 1,052,999 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Chubb by 28,885.3% in the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock valued at $2,696,640,000 after buying an additional 931,841 shares during the period. Assenagon Asset Management S.A. increased its position in Chubb by 4,559.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock valued at $243,641,000 after buying an additional 826,700 shares in the last quarter. Troy Asset Management Ltd bought a new stake in Chubb in the 2nd quarter valued at about $106,975,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Chubb by 49.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock worth $338,070,000 after buying an additional 389,343 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity at Chubb

In other news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at $160,341,094.40. This trade represents a 5.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the sale, the director now owns 39,172 shares in the company, valued at approximately $11,261,558.28. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,715 shares of company stock worth $23,803,540. Company insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on CB shares. Evercore ISI raised their price objective on Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler boosted their price target on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Wells Fargo & Company raised their price objective on shares of Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Jefferies Financial Group boosted their target price on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Barclays started coverage on shares of Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 price target on the stock. Two investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $287.37.

Chubb Stock Down 0.6 %

CB opened at $288.73 on Monday. The company’s 50-day moving average price is $287.30 and its two-hundred day moving average price is $275.81. 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 Limited has a twelve month low of $216.90 and a twelve month high of $302.05. The stock has a market cap of $116.39 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 6.73 and a beta of 0.67.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. During the same period in the prior year, the company earned $4.95 earnings per share. Chubb’s revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts expect that Chubb Limited will post 21.82 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, December 13th. Chubb’s dividend payout ratio (DPR) 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.