Chubb Limited $CB Shares Sold by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC cut its Chubb position by 68% in the first quarter, selling 168,793 shares and leaving it with 79,575 shares worth about $25.9 million.
• Chubb continues to draw major institutional interest, with Berkshire Hathaway, Norges Bank, and other large investors holding sizable stakes; overall, 83.81% of the stock is owned by institutions and hedge funds.
• The company boosted its quarterly dividend to $1.02 per share from $0.97, while analysts currently rate the stock a Hold on average with a consensus price target of $349.10.

SG Americas Securities LLC decreased its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 68.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,575 shares of the financial services provider's stock after selling 168,793 shares during the period. SG Americas Securities LLC's holdings in Chubb were worth $25,936,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Berkshire Hathaway Inc boosted its stake in Chubb by 15.9% in the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock valued at $8,843,710,000 after acquiring an additional 4,299,111 shares during the period. Norges Bank bought a new stake in shares of Chubb in the 4th quarter worth approximately $1,081,190,000. Price T Rowe Associates Inc. MD boosted its position in Chubb by 25.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider's stock valued at $4,665,508,000 after purchasing an additional 3,049,987 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Chubb during the 4th quarter worth $795,378,000. Finally, GQG Partners LLC grew its stake in Chubb by 15.2% during the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider's stock worth $3,895,627,000 after buying an additional 1,647,729 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO John W. Keogh sold 23,000 shares of the firm's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.37% of the company's stock.

Chubb Trading Up 0.9%

NYSE:CB opened at $335.22 on Thursday. The stock has a fifty day simple moving average of $324.76 and a 200 day simple moving average of $320.92. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $130.02 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 1.70 and a beta of 0.41. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $345.67.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The firm had revenue of $14.93 billion during the quarter. Sell-side analysts forecast that Chubb Limited will post 26.8 earnings per share for the current year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, June 12th. This is a positive change from Chubb's previous quarterly dividend of $0.97. Chubb's dividend payout ratio (DPR) is 14.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CB shares. Bank of America reduced their price target on shares of Chubb from $286.00 to $271.00 and set an "underperform" rating for the company in a report on Tuesday, April 14th. The Goldman Sachs Group reduced their target price on shares of Chubb from $372.00 to $362.00 and set a "buy" rating for the company in a research note on Monday, June 8th. Cantor Fitzgerald restated a "neutral" rating and issued a $315.00 target price on shares of Chubb in a research report on Wednesday, April 22nd. Wells Fargo & Company upped their target price on shares of Chubb from $321.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 23rd. Finally, Piper Sandler raised their price target on shares of Chubb from $328.00 to $340.00 and gave the company a "neutral" rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $349.10.

About Chubb

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.

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