QRG Capital Management Inc. Decreases Stake in Chubb Limited $CB

Key Points

• QRG Capital Management Inc. decreased its stake in Chubb Limited by 12.3% during the second quarter, now holding 82,201 shares valued at approximately $23.8 million.
• Chubb recently reported earnings of $6.14 per share, surpassing analyst expectations of $5.84, with quarterly revenue rising 6.3% year-over-year to $14.2 billion.
• The company declared a quarterly dividend of $0.97 per share, reflecting an annualized dividend yield of 1.4%, with a payout ratio of 17.12%.

QRG Capital Management Inc. lowered its position in shares of Chubb Limited (NYSE:CB - Free Report) by 12.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 82,201 shares of the financial services provider's stock after selling 11,521 shares during the quarter. QRG Capital Management Inc.'s holdings in Chubb were worth $23,815,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CB. Brighton Jones LLC grew its holdings in shares of Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock worth $537,000 after purchasing an additional 221 shares during the period. Revolve Wealth Partners LLC acquired a new position in Chubb during the 4th quarter worth approximately $205,000. RFG Advisory LLC lifted its position in Chubb by 9.8% during the 1st quarter. RFG Advisory LLC now owns 2,682 shares of the financial services provider's stock worth $810,000 after acquiring an additional 240 shares in the last quarter. Portside Wealth Group LLC acquired a new position in Chubb during the 1st quarter worth approximately $266,000. Finally, Breakwater Capital Group lifted its position in Chubb by 8.5% during the 1st quarter. Breakwater Capital Group now owns 1,170 shares of the financial services provider's stock worth $353,000 after acquiring an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Buying and Selling at Chubb

In other news, Director Michael Corbat purchased 425 shares of the stock in a transaction dated Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director owned 2,450 shares of the company's stock, valued at $661,010. The trade was a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.77% of the company's stock.

Chubb Stock Performance

Shares of CB opened at $283.99 on Friday. The business's 50 day moving average is $274.76 and its two-hundred day moving average is $282.25. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The firm has a market cap of $113.22 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 3.17 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

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 (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 for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the prior year, the company posted $5.38 EPS. Chubb's quarterly revenue was up 6.3% on a year-over-year basis. Analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb's payout ratio is 17.12%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Chubb in a research report on Saturday, September 27th. Cantor Fitzgerald raised Chubb to a "hold" rating in a research report on Wednesday, August 13th. Piper Sandler reissued a "neutral" rating and set a $283.00 price target (down from $335.00) on shares of Chubb in a research report on Thursday, July 24th. UBS Group reduced 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. Finally, HSBC lowered Chubb from a "buy" rating to a "hold" rating and reduced their price target for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $303.24.

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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