Chubb Limited (NYSE:CB) Shares Sold by Mattern Capital Management LLC

27 Oct 2024, 16:10 by Kim Johansen · The Markets Daily

Mattern Capital Management LLC decreased its position in Chubb Limited (NYSE:CB – Free Report) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,455 shares of the financial services provider’s stock after selling 383 shares during the quarter. Chubb accounts for about 1.4% of Mattern Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Mattern Capital Management LLC’s holdings in Chubb were worth $11,090,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Vicus Capital raised its holdings in Chubb by 57.8% in the first quarter. Vicus Capital now owns 2,376 shares of the financial services provider’s stock valued at $616,000 after acquiring an additional 870 shares in the last quarter. Diversified Trust Co grew its stake in Chubb by 10.3% in the first quarter. Diversified Trust Co now owns 43,762 shares of the financial services provider’s stock worth $11,340,000 after purchasing an additional 4,092 shares in the last quarter. BKM Wealth Management LLC increased its holdings in Chubb by 6.3% in the first quarter. BKM Wealth Management LLC now owns 5,830 shares of the financial services provider’s stock valued at $1,511,000 after buying an additional 343 shares during the last quarter. Hi Line Capital Management LLC increased its holdings in Chubb by 1.4% in the first quarter. Hi Line Capital Management LLC now owns 37,083 shares of the financial services provider’s stock valued at $9,641,000 after buying an additional 517 shares during the last quarter. Finally, Talbot Financial LLC acquired a new stake in Chubb during the first quarter valued at approximately $13,074,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Down 2.0 %

CB stock opened at $287.99 on Friday. The firm has a market cap of $116.94 billion, a PE ratio of 12.78, a P/E/G ratio of 5.87 and a beta of 0.66. Chubb Limited has a 12 month low of $207.46 and a 12 month high of $302.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a 50 day simple moving average of $287.15 and a 200 day simple moving average of $269.47.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, September 13th. Chubb’s dividend payout ratio is presently 16.16%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CB shares. Bank of America boosted their price target on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. JMP Securities reiterated a “market outperform” rating and set a $300.00 target price on shares of Chubb in a research note on Tuesday, October 15th. Jefferies Financial Group raised their price target 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. Royal Bank of Canada boosted their price objective on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company raised their target price on shares of Chubb from $255.00 to $269.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $282.37.

Read Our Latest Report on Chubb

Insider Buying and Selling

In related news, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the transaction, the executive vice president now owns 44,632 shares in the company, valued at $12,187,213.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Chubb news, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the transaction, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael G. Atieh sold 261 shares of the 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 completion of the sale, the director now owns 39,172 shares of the company’s stock, valued at $11,261,558.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,636 shares of company stock worth $24,874,208 in the last three months. 0.86% of the stock is currently owned by insiders.

About Chubb

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