Intech Investment Management LLC Decreases Stock Holdings in Chubb Limited $CB

Key Points

• Intech Investment Management LLC significantly reduced its holdings in Chubb Limited by 49.7%, selling 24,370 shares, leaving it with 24,687 shares valued at approximately $7.46 million.
• Chubb Limited recently declared a quarterly dividend of $0.97, along with a share repurchase plan authorizing the buyback of up to $5 billion in shares.
• Analysts have mixed ratings on Chubb, with the average rating being a "Hold" and a price target range notably lowered, indicating a cautious outlook amidst various institutional trading activities.

Intech Investment Management LLC trimmed its position in Chubb Limited (NYSE:CB - Free Report) by 49.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,687 shares of the financial services provider's stock after selling 24,370 shares during the quarter. Intech Investment Management LLC's holdings in Chubb were worth $7,455,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. E Fund Management Co. Ltd. raised its position in Chubb by 3.9% during the 1st quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock worth $291,000 after buying an additional 36 shares during the last quarter. Rise Advisors LLC increased its stake in shares of Chubb by 4.6% in the first quarter. Rise Advisors LLC now owns 841 shares of the financial services provider's stock worth $254,000 after acquiring an additional 37 shares during the period. Sunflower Bank N.A. raised its holdings in shares of Chubb by 4.4% during 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. lifted its position in Chubb by 5.1% during the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock valued at $236,000 after purchasing an additional 38 shares during the period. Finally, Lincoln Capital LLC boosted its holdings in Chubb by 0.6% in the first quarter. Lincoln Capital LLC now owns 6,962 shares of the financial services provider's stock valued at $2,022,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Activity

In related news, Director Michael Corbat bought 425 shares of the company's stock in a transaction dated Friday, July 25th. The shares were acquired at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at $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 is available through this link. Also, insider John J. Lupica sold 5,513 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 91,180 shares of the company's stock, valued at $26,447,670.80. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.

Chubb Price Performance

CB stock traded down $4.87 during mid-day trading on Friday, reaching $278.02. 2,115,158 shares of the company's stock were exchanged, compared to its average volume of 1,651,878. 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 Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The stock's 50 day moving average is $274.38 and its 200 day moving average is $283.40. The company has a market cap of $110.84 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 3.14 and a beta of 0.56.

Chubb (NYSE:CB - Get Free Report) last announced its 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. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the prior year, the company posted $5.38 EPS. The business's quarterly revenue was up 6.3% on a year-over-year basis. On average, research analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

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

Analyst Upgrades and Downgrades

CB has been the topic of several analyst reports. UBS Group cut their price target on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Wells Fargo & Company dropped their target price on Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. Barclays cut Chubb from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $321.00 to $298.00 in a research report on Monday, July 7th. Piper Sandler restated a "neutral" rating and issued a $283.00 price objective (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Finally, Cantor Fitzgerald raised shares of Chubb to a "hold" rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $302.00.

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.