Interchange Capital Partners LLC Lowers Holdings in Chubb Limited $CB

Key Points

• Interchange Capital Partners LLC significantly reduced its holdings in Chubb Limited by 91.2%, leaving them with only 125 shares valued at approximately $36,000 after selling 1,303 shares in the 2nd quarter.
• Chubb reported a quarterly earnings per share of $6.14, exceeding analysts' expectations of $5.84, and its revenue increased by 6.3% year-over-year to $14.20 billion.
• The company announced a quarterly dividend of $0.97, representing an annual yield of 1.4%, with a payout ratio of 17.12% as of the latest reporting period.

Interchange Capital Partners LLC trimmed its position in Chubb Limited (NYSE:CB - Free Report) by 91.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125 shares of the financial services provider's stock after selling 1,303 shares during the quarter. Interchange Capital Partners LLC's holdings in Chubb were worth $36,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Modern Wealth Management LLC lifted its holdings in shares of Chubb by 6.2% in the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider's stock worth $744,000 after buying an additional 143 shares during the period. Trifecta Capital Advisors LLC raised its position in shares of Chubb by 764.7% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 147 shares of the financial services provider's stock worth $43,000 after acquiring an additional 130 shares in the last quarter. Jump Financial LLC raised its position in shares of Chubb by 633.6% in the 1st quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider's stock worth $2,470,000 after acquiring an additional 7,065 shares in the last quarter. Legato Capital Management LLC raised its position in shares of Chubb by 120.9% in the 1st quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider's stock worth $3,080,000 after acquiring an additional 5,582 shares in the last quarter. Finally, Davis Rea LTD. bought a new position in shares of Chubb in the 1st quarter worth $5,117,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Stock Down 2.1%

Shares of CB stock opened at $278.71 on Thursday. The stock's 50-day simple moving average is $277.49 and its 200-day simple moving average is $281.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $111.12 billion, a PE ratio of 12.29, a P/E/G ratio of 3.20 and a beta of 0.54. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91.

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

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were issued 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 dividend yield of 1.4%. Chubb's dividend payout ratio is currently 17.12%.

Wall Street Analyst Weigh In

CB has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on Chubb from $324.00 to $333.00 and gave the stock an "outperform" rating in a research report on Monday, October 6th. Wolfe Research raised Chubb to a "strong-buy" rating in a research report on Tuesday, September 16th. Wells Fargo & Company boosted their price target on Chubb from $267.00 to $277.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 8th. 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. Finally, Jefferies Financial Group upped their target price on Chubb from $295.00 to $297.00 and gave the company a "hold" rating in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $305.28.

Insider Buying and Selling at Chubb

In other news, Director Michael Corbat acquired 425 shares of the business's stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.77% of the company's stock.

Chubb 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.

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