QRG Capital Management Inc. Has $14.94 Million Stock Position in Chubb Limited $CB

QRG Capital Management Inc. reduced its stake in shares of Chubb Limited (NYSE:CB) by 35.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,915 shares of the financial services provider’s stock after selling 29,286 shares during the quarter. QRG Capital Management Inc.’s holdings in Chubb were worth $14,935,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Chubb during the 2nd quarter worth about $1,195,137,000. Bank of America Corp DE increased its holdings in shares of Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after purchasing an additional 513,852 shares during the period. London Co. of Virginia increased its position in shares of Chubb by 211.0% in the second quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock worth $213,559,000 after purchasing an additional 500,116 shares during the period. Altrinsic Global Advisors LLC lifted its position in Chubb by 46.9% during the second quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider’s stock worth $403,535,000 after purchasing an additional 444,557 shares during the period. Finally, Troy Asset Management Ltd grew its stake in Chubb by 89.1% during the second quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock worth $229,872,000 after buying an additional 373,872 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Activity

In other news, insider John J. Lupica sold 16,375 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $296.45, for a total transaction of $4,854,368.75. Following the sale, the insider owned 74,225 shares of the company’s stock, valued at approximately $22,004,001.25. This represents a 18.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph F. Wayland sold 5,830 shares of Chubb stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the sale, the executive vice president owned 60,593 shares in the company, valued at $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 57,333 shares of company stock valued at $16,629,873. Corporate insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Citizens Jmp lifted their price objective on shares of Chubb from $325.00 to $350.00 and gave the company a “market outperform” rating in a research note on Friday. Cantor Fitzgerald increased their price objective on shares of Chubb from $300.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a research report on Friday. Bank of America upped their price target on shares of Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a report on Monday, October 13th. Finally, Jefferies Financial Group raised their price objective on Chubb from $302.00 to $326.00 and gave the company a “hold” rating in a report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $324.76.

Chubb Stock Down 0.2%

Chubb stock opened at $300.60 on Friday. The firm has a market cap of $118.30 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 3.15 and a beta of 0.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a 50 day moving average price of $303.22 and a two-hundred day moving average price of $285.92. Chubb Limited has a 52-week low of $263.14 and a 52-week high of $316.94.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, beating the consensus estimate of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The firm had revenue of $16.15 billion during the quarter, compared to the consensus estimate of $12.95 billion. During the same period last year, the firm earned $5.72 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were given a dividend of $0.97 per share. The ex-dividend date was Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.3%. Chubb’s dividend payout ratio is currently 16.19%.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.