Chubb Limited $CB Holdings Decreased by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its stake in shares of Chubb Limited (NYSE:CB) by 12.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 82,201 shares of the financial services provider’s stock after selling 11,521 shares during the period. QRG Capital Management Inc.’s holdings in Chubb were worth $23,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CB. GQG Partners LLC grew its stake in Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after buying an additional 4,964,298 shares during the last quarter. Nuveen LLC bought a new position in Chubb during the 1st quarter worth $562,221,000. Demars Financial Group LLC grew its stake in Chubb by 16.4% during the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock worth $1,884,004,000 after buying an additional 878,177 shares during the last quarter. SG Americas Securities LLC grew its stake in Chubb by 1,243.9% during the 1st quarter. SG Americas Securities LLC now owns 680,456 shares of the financial services provider’s stock worth $205,491,000 after buying an additional 629,822 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Chubb by 6.9% during the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after buying an additional 304,751 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Hsbc Global Res downgraded Chubb from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. HSBC cut Chubb from a “buy” rating to a “hold” rating and decreased their price target for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. Wolfe Research raised Chubb to a “strong-buy” rating in a research note on Tuesday, September 16th. Piper Sandler reissued a “neutral” rating and issued a $283.00 price target (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Evercore ISI increased their price target on Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chubb currently has an average rating of “Hold” and a consensus price target of $303.24.

Chubb Trading Up 0.9%

Shares of CB opened at $283.99 on Friday. The business’s 50-day moving average price is $274.76 and its 200 day moving average price is $282.25. The stock has a market capitalization of $113.22 billion, a P/E ratio of 12.53, a P/E/G ratio of 3.17 and a beta of 0.54. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, topping analysts’ consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period last year, the company posted $5.38 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were given a dividend of $0.97 per share. The ex-dividend date was Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb’s dividend payout ratio (DPR) is presently 17.12%.

Insider Buying and Selling

In other Chubb news, Director Michael Corbat acquired 425 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director owned 2,450 shares of the company’s stock, valued at $661,010. The trade was a 20.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.77% of the company’s stock.

Chubb 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.