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

Payden & Rygel decreased its stake in shares of Chubb Limited (NYSE:CB) by 8.1% in the 4th quarter, Holdings Channel reports. The fund owned 71,370 shares of the financial services provider’s stock after selling 6,300 shares during the quarter. Chubb accounts for approximately 1.7% of Payden & Rygel’s investment portfolio, making the stock its 17th biggest position. Payden & Rygel’s holdings in Chubb were worth $19,720,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Chubb in the 4th quarter valued at about $1,169,720,000. Raymond James Financial Inc. bought a new position in shares of Chubb during the fourth quarter worth about $1,158,897,000. GQG Partners LLC raised its position in Chubb by 36.3% in the 4th quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock valued at $1,223,932,000 after buying an additional 1,178,628 shares during the last quarter. Beutel Goodman & Co Ltd. lifted its stake in Chubb by 1,007,698.0% in 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 boosted its position in Chubb by 41,494.7% during the 4th quarter. Proficio Capital Partners LLC now owns 812,761 shares of the financial services provider’s stock worth $224,566,000 after acquiring an additional 810,807 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Chubb Price Performance

NYSE:CB opened at $280.74 on Friday. The company has a market cap of $112.41 billion, a P/E ratio of 12.36, a P/E/G ratio of 3.36 and a beta of 0.66. The firm’s fifty day moving average price is $282.25 and its two-hundred day moving average price is $281.81. Chubb Limited has a one year low of $238.85 and a one year high of $306.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28.

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

Chubb Announces Dividend

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

Insider Buying and Selling at Chubb

In related news, CAO George F. Ohsiek sold 763 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the sale, the chief accounting officer now owns 20,044 shares of the company’s stock, valued at $5,820,978.04. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Joseph F. Wayland sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total value of $2,869,600.00. Following the completion of the transaction, the executive vice president now directly owns 77,703 shares of the company’s stock, valued at approximately $22,297,652.88. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,470 shares of company stock worth $18,562,730 over the last three months. Corporate insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price target on shares of Chubb from $328.00 to $329.00 and gave the stock an “outperform” rating in a research 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. Wells Fargo & Company dropped their target price on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Piper Sandler raised their price target on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $303.14.

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.