Meeder Asset Management Inc. Sells 231 Shares of Chubb Limited (NYSE:CB)

Meeder Asset Management Inc. lessened its holdings in Chubb Limited (NYSE:CB) by 60.5% in the fourth quarter, HoldingsChannel reports. The fund owned 151 shares of the financial services provider’s stock after selling 231 shares during the period. Meeder Asset Management Inc.’s holdings in Chubb were worth $42,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in shares of Chubb during the 4th quarter worth approximately $1,169,720,000. Raymond James Financial Inc. bought a new stake in shares of Chubb in the fourth quarter valued at approximately $1,158,897,000. GQG Partners LLC grew its position in Chubb by 36.3% during the fourth quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock worth $1,223,932,000 after buying an additional 1,178,628 shares in the last quarter. Beutel Goodman & Co Ltd. increased its stake in Chubb by 1,007,698.0% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 1,007,798 shares of the financial services provider’s stock worth $278,454,000 after acquiring an additional 1,007,698 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in Chubb by 41,494.7% in the 4th quarter. Proficio Capital Partners LLC now owns 812,761 shares of the financial services provider’s stock valued at $224,566,000 after acquiring an additional 810,807 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on CB. JMP Securities reissued a “market outperform” rating and set a $325.00 target price on shares of Chubb in a report on Wednesday, January 29th. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. raised their target price 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 upped their price target on shares of Chubb from $328.00 to $329.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Piper Sandler lifted their price objective on shares of Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Chubb presently has a consensus rating of “Hold” and a consensus target price of $303.14.

Chubb Stock Performance

NYSE:CB opened at $301.54 on Wednesday. The stock’s 50-day moving average is $280.57 and its 200-day moving average is $281.60. Chubb Limited has a 1-year low of $238.85 and a 1-year high of $304.34. 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 stock has a market cap of $120.74 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, topping 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 research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, March 14th. Chubb’s dividend payout ratio is currently 16.02%.

Insiders Place Their Bets

In other Chubb news, EVP Joseph F. Wayland sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the transaction, the executive vice president now owns 77,703 shares in the company, valued at approximately $22,297,652.88. This trade represents a 11.40 % 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, CAO George F. Ohsiek sold 763 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $290.41, for a total transaction of $221,582.83. Following the completion of the sale, the chief accounting officer now directly owns 20,044 shares in the company, valued at approximately $5,820,978.04. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is currently owned by company insiders.

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.