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Rafferty Asset Management LLC Decreases Stock Holdings in Chubb Limited $CB

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Key Points

  • Rafferty Asset Management LLC reduced its stake in Chubb Limited by 7.6% in Q1, now holding 122,170 shares valued at $36.89 million.
  • Chubb declared a quarterly dividend of $0.97 per share, amounting to an annualized yield of 1.4%, with a payout ratio of 17.12%.
  • Wall Street analysts maintain a consensus rating of "Hold" for Chubb, with a consensus price target around $302.00, reflecting cautious optimism following recent rating downgrades.
  • Want stock alerts on Chubb? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Rafferty Asset Management LLC decreased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 7.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,170 shares of the financial services provider's stock after selling 10,095 shares during the period. Rafferty Asset Management LLC's holdings in Chubb were worth $36,894,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Peoples Bank KS bought a new position in Chubb during the 1st quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Chubb in the 1st quarter valued at approximately $25,000. North Capital Inc. acquired a new position in Chubb in the 1st quarter worth approximately $26,000. IMA Advisory Services Inc. acquired a new position in Chubb in the 1st quarter worth approximately $31,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its holdings in Chubb by 391.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 118 shares of the financial services provider's stock worth $36,000 after buying an additional 94 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Hsbc Global Res cut shares of Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft lowered Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target on the stock. in a report on Tuesday, May 20th. Evercore ISI set a $312.00 price target on Chubb in a report on Wednesday, July 23rd. Morgan Stanley lowered their price target on Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. Finally, Wells Fargo & Company reduced their price target on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $302.00.

Check Out Our Latest Analysis on CB

Chubb Stock Performance

Shares of CB opened at $274.5430 on Tuesday. The company has a market capitalization of $109.46 billion, a PE ratio of 12.11, a P/E/G ratio of 3.13 and a beta of 0.53. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The company has a 50-day simple moving average of $276.53 and a 200-day simple moving average of $282.69. 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 issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $12.53 billion. During the same period in the prior year, the company earned $5.38 EPS. The firm's revenue 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be issued 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 currently 17.12%.

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

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh bought 9,810 shares of Chubb stock in a transaction dated Friday, June 6th. The stock was bought at an average cost of $292.99 per share, for a total transaction of $2,874,231.90. Following the purchase, the chief operating officer owned 247,538 shares in the company, valued at $72,526,158.62. This represents a 4.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Corbat bought 425 shares of Chubb stock in a transaction dated Friday, July 25th. The shares were acquired at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of 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 position. The disclosure for this purchase can be found here. 0.86% of the stock is owned by company insiders.

Chubb Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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.

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