Sun Sep 15 15:55:09 UTC 2024: ## Zions Bancorporation Reduces Stake in Chubb Limited

**New York, NY (MarketBeat News)** – Zions Bancorporation N.A., a major institutional investor, trimmed its stake in Chubb Limited (NYSE:CB) by 13.1% in the second quarter, according to a recent filing with the Securities and Exchange Commission. The bank now holds 2,192 shares of the financial services provider, valued at $559,000.

This move follows a trend of increased activity by institutional investors in Chubb stock. Notably, ING Groep NV significantly boosted its stake by 175,378.1% in the fourth quarter, now holding 112,306 shares valued at $25,381,000. Other investors like ORG Partners LLC and Mirae Asset Global Investments Co. Ltd. also purchased new positions or increased their holdings in the company.

Meanwhile, Chubb CEO Evan G. Greenberg sold a total of 91,355 shares of the company’s stock in three separate transactions over the past month, totaling $27,055,900 in value. Despite these sales, Greenberg still owns 553,664 shares, worth approximately $160,341,094.40.

Chubb’s recent financial performance continues to be strong. The company exceeded analysts’ expectations in its most recent earnings report, posting $5.38 earnings per share and $13.36 billion in revenue for the quarter, both exceeding estimates. The company also declared a quarterly dividend of $0.91 per share, payable on October 4th.

Analyst sentiment towards Chubb remains generally positive, with eight analysts recommending a buy rating and eleven recommending a hold rating. However, William Blair recently downgraded the company to an “underperform” rating, while Morgan Stanley lowered its price target to $259.00.

Overall, institutional investors remain interested in Chubb Limited, and the company’s strong financial performance suggests a continued positive outlook for the future.

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