Alerus Financial NA Sells 130 Shares of Chubb Limited (NYSE:CB)

Alerus Financial NA trimmed its stake in shares of Chubb Limited (NYSE:CB) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

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

Chubb Trading Down 0.6 %

Shares of CB stock opened at $288.73 on Monday. Chubb Limited has a twelve month low of $216.90 and a twelve month high of $302.05. The stock’s fifty day simple moving average is $287.30 and its 200 day simple moving average 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. The firm has a market capitalization of $116.39 billion, a P/E ratio of 11.82, a P/E/G ratio of 6.73 and a beta of 0.67.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.74. The company had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.95 earnings per share. As a group, sell-side analysts predict that Chubb Limited will post 21.82 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, December 13th. Chubb’s dividend payout ratio (DPR) is currently 14.91%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CB. Bank of America lifted their price objective on shares of Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Jefferies Financial Group boosted their price target on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. JMP Securities lifted their price objective on Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Evercore ISI upped their target price on Chubb from $289.00 to $293.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler raised their price target on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Two research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $287.37.

Insider Activity

In other Chubb news, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the completion of the transaction, the insider now owns 103,950 shares in the company, valued at approximately $29,676,685.50. This trade represents a 12.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the completion of the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. This represents a 5.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,715 shares of company stock valued at $23,803,540. Insiders own 0.86% of the company’s stock.

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.