Altrinsic Global Advisors LLC Has $286.37 Million Stake in Chubb Limited $CB

Key Points

• Altrinsic Global Advisors LLC has reduced its stake in Chubb Limited by 5.2% in the first quarter, owning 948,289 shares, now valued at $286.37 million.
• Chubb's earnings for the last quarter were reported at $6.14 EPS, surpassing estimates of $5.84, with revenues reaching $14.20 billion, indicating a year-over-year increase of 6.3%.
• The company has declared a quarterly dividend of $0.97 per share, with a yield of 1.4%, scheduled for payment on October 3rd.

Altrinsic Global Advisors LLC lessened its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 5.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 948,289 shares of the financial services provider's stock after selling 52,234 shares during the quarter. Chubb makes up 14.1% of Altrinsic Global Advisors LLC's portfolio, making the stock its biggest position. Altrinsic Global Advisors LLC owned 0.24% of Chubb worth $286,374,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. E Fund Management Co. Ltd. boosted its position in Chubb by 3.9% in the first quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock worth $291,000 after purchasing an additional 36 shares during the last quarter. Sunflower Bank N.A. boosted its position in Chubb by 4.4% in the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock worth $273,000 after purchasing an additional 38 shares during the last quarter. Avantax Planning Partners Inc. boosted its position in Chubb by 5.1% in the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock worth $236,000 after purchasing an additional 38 shares during the last quarter. Lincoln Capital LLC boosted its position in Chubb by 0.6% in the first quarter. Lincoln Capital LLC now owns 6,962 shares of the financial services provider's stock worth $2,022,000 after purchasing an additional 39 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its position in Chubb by 0.5% in the first quarter. HighPoint Advisor Group LLC now owns 8,857 shares of the financial services provider's stock worth $2,524,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

CB has been the topic of several research reports. Morgan Stanley dropped their target price on Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Keefe, Bruyette & Woods raised their price objective on Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Wells Fargo & Company decreased their price objective on Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. Piper Sandler reaffirmed a "neutral" rating and issued a $283.00 price objective (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Chubb has a consensus rating of "Hold" and an average target price of $302.00.

Chubb Stock Down 1.1%

Shares of CB opened at $274.5430 on Tuesday. The business's 50 day moving average is $276.53 and its 200 day moving average is $282.69. The company has a market capitalization of $109.46 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 3.13 and a beta of 0.53. Chubb Limited has a 12-month low of $252.16 and a 12-month 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 - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.84 by $0.30. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $5.38 EPS. Research analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb's payout ratio is presently 17.12%.

Chubb declared that its Board of Directors has approved a share buyback program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Michael Corbat acquired 425 shares of Chubb stock in a transaction on Friday, July 25th. The shares were acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the purchase, the director directly owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company's stock.

Chubb Company 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.

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