SouthState Corp Purchases 718 Shares of Chubb Limited (NYSE:CB)

SouthState Corp grew its position in Chubb Limited (NYSE:CB) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,891 shares of the financial services provider’s stock after purchasing an additional 718 shares during the period. Chubb makes up approximately 1.0% of SouthState Corp’s investment portfolio, making the stock its 28th largest holding. SouthState Corp’s holdings in Chubb were worth $15,166,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Continuum Advisory LLC raised its holdings in Chubb by 56.5% during the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 35 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in Chubb during the third quarter worth about $29,000. Raelipskie Partnership bought a new stake in Chubb during the third quarter worth about $29,000. Sierra Ocean LLC bought a new stake in Chubb during the fourth quarter worth about $29,000. Finally, Truvestments Capital LLC bought a new stake in Chubb during the third quarter worth about $30,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Price Performance

Chubb stock opened at $294.46 on Monday. Chubb Limited has a 12 month low of $238.85 and a 12 month high of $302.05. The stock’s 50 day moving average is $273.60 and its 200-day moving average is $280.86. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $117.91 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 3.36 and a beta of 0.66.

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

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Friday, March 14th. Chubb’s dividend payout ratio is currently 16.02%.

Insider Buying and Selling

In other Chubb news, EVP Joseph F. Wayland sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the sale, the executive vice president now directly owns 77,703 shares in the company, valued at $22,297,652.88. This represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Evan G. Greenberg sold 25,728 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $291.45, for a total value of $7,498,425.60. Following the sale, the chief executive officer now owns 584,395 shares of the company’s stock, valued at $170,321,922.75. The trade was a 4.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $325.00 target price on shares of Chubb in a report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their target price on Chubb from $328.00 to $329.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price target on Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company lowered their price target on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $301.00.

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.