Qtron Investments LLC Has $1.33 Million Position in Chubb Limited $CB

Key Points

• Qtron Investments LLC reduced its stake in Chubb Limited by 37.2%, holding approximately $1.33 million worth of shares after selling 2,608 during the 1st quarter.
• Chubb reported earnings of $6.14 per share for the most recent quarter, exceeding analysts' expectations of $5.84, and had revenues of $14.20 billion, a 6.3% increase year-over-year.
• The company's Board of Directors approved a $5 billion share repurchase plan, indicating confidence in the stock's valuation, and Chubb also declared a quarterly dividend of $0.97 per share.

Qtron Investments LLC reduced its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 37.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,408 shares of the financial services provider's stock after selling 2,608 shares during the quarter. Qtron Investments LLC's holdings in Chubb were worth $1,331,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CB. Peoples Bank KS acquired a new position in shares of Chubb in the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Chubb in the 1st quarter valued at approximately $25,000. North Capital Inc. acquired a new position in shares of Chubb in the 1st quarter valued at approximately $26,000. IMA Advisory Services Inc. acquired a new position in shares of Chubb in the 1st quarter valued at approximately $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Chubb by 254.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 89 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Trading Down 0.6%

Shares of Chubb stock opened at $274.16 on Monday. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The business's 50 day moving average is $277.86 and its 200-day moving average is $282.54. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock has a market cap of $109.30 billion, a P/E ratio of 12.09, a P/E/G ratio of 3.09 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results 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. Chubb had a return on equity of 12.34% and a net margin of 16.08%. The business had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $12.53 billion. During the same quarter in the prior year, the business earned $5.38 EPS. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb declared that its Board of Directors has approved a share repurchase plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Chubb Dividend Announcement

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

Insider Activity at Chubb

In other Chubb news, Director Michael Corbat purchased 425 shares of the company's stock in a transaction that occurred on 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 purchase, the director owned 2,450 shares in the company, valued at approximately $661,010. The trade was 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. Also, COO John W. Keogh sold 9,794 shares of the stock in a transaction on 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 completion of the sale, the chief operating officer owned 247,538 shares in the company, valued at approximately $72,526,158.62. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,390 shares of company stock worth $29,163,135. Company insiders own 0.86% of the company's stock.

Wall Street Analysts Forecast Growth

CB has been the subject of several research analyst reports. Evercore ISI set a $312.00 price objective on Chubb in a research report on Wednesday, July 23rd. Morgan Stanley upped their price target on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Barclays downgraded Chubb from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Piper Sandler reaffirmed a "neutral" rating and set a $283.00 price target (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Finally, Wells Fargo & Company reduced their price target on Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Chubb presently has an average rating of "Hold" and an average target price of $302.31.

About Chubb

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.