Quantitative Investment Management LLC Has $439,000 Holdings in Chubb Limited $CB

Key Points

• Quantitative Investment Management LLC reduced its holdings in Chubb Limited by 74.8%, resulting in a remaining ownership of 1,456 shares valued at $439,000.
• Chubb reported $6.14 EPS for the last quarter, exceeding estimates by $0.30, and revenue grew by 6.3% year-over-year to $14.20 billion.
• The company has authorized a $5 billion stock repurchase plan, signaling management's belief that its shares are undervalued.

Quantitative Investment Management LLC lessened its position in shares of Chubb Limited (NYSE:CB - Free Report) by 74.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,456 shares of the financial services provider's stock after selling 4,327 shares during the quarter. Quantitative Investment Management LLC's holdings in Chubb were worth $439,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Peoples Bank KS acquired a new stake in Chubb during the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Chubb during the 1st quarter worth approximately $25,000. North Capital Inc. acquired a new stake in shares of Chubb during the 1st quarter worth approximately $26,000. IMA Advisory Services Inc. acquired a new stake in shares of Chubb during the 1st quarter worth approximately $31,000. Finally, Cherry Tree Wealth Management LLC grew its position in shares of Chubb by 56.6% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock worth $36,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Stock Performance

NYSE CB opened at $274.5430 on Tuesday. The company has a fifty day simple moving average of $276.53 and a 200 day simple moving average of $282.69. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The company has a market cap of $109.46 billion, a P/E ratio of 12.11, a PEG ratio of 3.13 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 (EPS) for the quarter, beating the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter last year, the firm posted $5.38 EPS. Chubb's revenue was up 6.3% compared to the same quarter last year. Sell-side 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 authorized a stock repurchase plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

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 paid a dividend of $0.97 per share. The ex-dividend date is Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb's dividend payout ratio (DPR) is 17.12%.

Insider Buying and Selling at Chubb

In other Chubb news, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the transaction, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Corbat acquired 425 shares of the company's stock in a transaction on Friday, July 25th. The shares were bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the purchase, the director owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.86% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CB. Citigroup began coverage on shares of Chubb in a research report on Wednesday, August 13th. They set a "buy" rating and a $326.00 price objective for the company. Barclays downgraded shares of Chubb from an "overweight" rating to an "equal weight" rating and reduced their price objective 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 objective (down previously from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Keefe, Bruyette & Woods raised their price objective 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, HSBC downgraded shares of Chubb from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. 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.

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