Chubb Limited $CB Shares Sold by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp reduced its stake in Chubb Limited by 1.7%, selling 2,939 shares and holding 171,611 shares worth approximately $49.72 million as of its latest SEC filing.
• Chubb reported quarterly earnings of $6.14 per share, exceeding analysts' expectations of $5.84, and achieved a revenue of $14.20 billion, surpassing estimates of $12.53 billion.
• The company declared a quarterly dividend of $0.97 per share, with an upcoming payment date on October 3rd, yielding 1.4% annually.

Fifth Third Bancorp cut its stake in Chubb Limited (NYSE:CB - Free Report) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 171,611 shares of the financial services provider's stock after selling 2,939 shares during the period. Fifth Third Bancorp's holdings in Chubb were worth $49,719,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. GQG Partners LLC boosted its position in shares of Chubb by 112.1% in the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock worth $2,836,899,000 after acquiring an additional 4,964,298 shares during the last quarter. Demars Financial Group LLC lifted its position in Chubb by 16.4% during the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock valued at $1,884,004,000 after buying an additional 878,177 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Chubb by 6.9% during the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider's stock valued at $1,418,398,000 after buying an additional 304,751 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Chubb by 1.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider's stock valued at $840,756,000 after buying an additional 30,334 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Chubb by 36,831.3% during the first quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock valued at $629,357,000 after buying an additional 2,078,390 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Trading Up 1.0%

CB opened at $275.69 on Wednesday. The firm has a market capitalization of $109.92 billion, a P/E ratio of 12.16, a P/E/G ratio of 3.08 and a beta of 0.56. The firm's 50 day moving average is $273.62 and its 200-day moving average is $282.81. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

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

Chubb Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup assumed coverage on shares of Chubb in a research report on Wednesday, August 13th. They set a "buy" rating and a $326.00 price target on the stock. Wolfe Research raised shares of Chubb to a "strong-buy" rating in a research report on Tuesday, September 16th. Piper Sandler reaffirmed a "neutral" rating and set a $283.00 price target (down from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Wells Fargo & Company reduced their price target on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 24th. Finally, Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chubb presently has a consensus rating of "Hold" and an average target price of $303.06.

Insiders Place Their Bets

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

About Chubb

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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