Chubb Limited (NYSE:CB) Holdings Raised by GQG Partners LLC

Key Points

• GQG Partners LLC increased its stake in Chubb Limited by 112.1% during the first quarter, now holding approximately 4.5% of its investment portfolio in the company, totaling about $2.84 billion.
• Several analysts have downgraded Chubb, with Barclays lowering its price target from $321.00 to $298.00 and Wells Fargo reducing its target from $285.00 to $267.00.
• Chubb recently announced an increase in its quarterly dividend to $0.97 per share, marking a positive change from the previous $0.91, with a current annualized yield of 1.4%.

GQG Partners LLC grew its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 112.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,394,018 shares of the financial services provider's stock after acquiring an additional 4,964,298 shares during the period. Chubb comprises approximately 4.5% of GQG Partners LLC's holdings, making the stock its 5th largest position. GQG Partners LLC owned about 2.34% of Chubb worth $2,836,899,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Peoples Bank KS purchased a new stake in Chubb in the 1st quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in Chubb in the 1st quarter worth $25,000. North Capital Inc. purchased a new stake in Chubb in the 1st quarter worth $26,000. IMA Advisory Services Inc. purchased a new stake in Chubb in the 1st quarter worth $31,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in shares of Chubb by 391.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider's stock valued at $36,000 after buying an additional 94 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Chubb Stock Down 0.6%

CB traded down $1.58 during trading on Friday, hitting $274.16. The stock had a trading volume of 1,504,402 shares, compared to its average volume of 2,108,787. The stock has a 50 day simple moving average of $278.26 and a two-hundred day simple moving average of $282.43. The company has a market capitalization of $109.30 billion, a PE ratio of 12.09, a PEG ratio of 3.11 and a beta of 0.53. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping 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 revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $5.38 EPS. On average, research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb declared that its board has authorized a stock buyback program on Thursday, May 15th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Chubb Dividend Announcement

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

Insider Activity

In other news, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the sale, the chief operating officer owned 247,538 shares in the company, valued at $72,526,158.62. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Corbat bought 425 shares of the company's stock in a transaction dated Friday, July 25th. The stock was bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director 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 disclosure for this purchase can be found here. Insiders have sold a total of 100,390 shares of company stock worth $29,163,135 over the last 90 days. 0.77% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CB has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. Piper Sandler reaffirmed a "neutral" rating and set a $283.00 target price (down from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Wells Fargo & Company reduced their target price 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. Keefe, Bruyette & Woods raised their target price on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, Cantor Fitzgerald upgraded shares of Chubb to a "hold" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $302.31.

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.