Chubb Limited $CB Shares Sold by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. reduced its stake in Chubb Limited by 26.9%, now holding 29,760 shares worth approximately $8.62 million after selling 10,925 shares.
• Chubb Limited reported earnings of $6.14 per share for the last quarter, exceeding analysts' expectations and showing a revenue increase of 6.3% year-over-year, totaling $14.20 billion.
• The company declared a quarterly dividend of $0.97 per share, translating to an annualized payout of $3.88, with a dividend yield of 1.4% and a payout ratio of 17.12%.

LGT Fund Management Co Ltd. cut its stake in Chubb Limited (NYSE:CB - Free Report) by 26.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,760 shares of the financial services provider's stock after selling 10,925 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Chubb were worth $8,622,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CB. GQG Partners LLC increased its stake in shares of Chubb by 112.1% in 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 acquiring an additional 4,964,298 shares during the last quarter. Nuveen LLC purchased a new position in shares of Chubb during the 1st quarter worth $562,221,000. Demars Financial Group LLC grew its holdings in shares of 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 purchasing an additional 878,177 shares during the period. SG Americas Securities LLC grew its holdings in shares of 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 purchasing an additional 629,822 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of 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 purchasing an additional 304,751 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Stock Performance

Shares of Chubb stock opened at $283.99 on Friday. The business has a 50-day moving average of $274.76 and a 200 day moving average of $282.25. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The stock has a market capitalization of $113.22 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 3.17 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating 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 company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. During the same period last year, the business posted $5.38 EPS. Chubb's revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were given a $0.97 dividend. The ex-dividend date of this dividend 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 currently 17.12%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CB shares. Piper Sandler reiterated a "neutral" rating and set a $283.00 price target (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Chubb in a report on Saturday, September 27th. Barclays cut Chubb from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Wells Fargo & Company lowered their price target on Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a report 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 report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Chubb currently has an average rating of "Hold" and a consensus price target of $303.24.

Insider Transactions at Chubb

In related news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction on Friday, July 25th. The shares were bought at an average price of $269.80 per share, with a total value of $114,665.00. Following the transaction, the director directly owned 2,450 shares of the company's stock, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.77% of the stock is owned by corporate 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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