Tritonpoint Wealth LLC Decreases Stock Holdings in Chubb Limited $CB

Key Points

• Tritonpoint Wealth LLC has decreased its stake in Chubb Limited by 2.7%, retaining 33,188 shares, making it the fund's 28th largest holding.
• Several hedge funds have significantly increased their positions in Chubb, with GQG Partners LLC raising their stake by 112.1% and GAMMA Investing LLC by an astonishing 36,831.3% in the first quarter.
• Analyst ratings for Chubb have shifted, with HSBC and Barclays downgrading their ratings and target prices, while the average target price is now $303.06 amidst mixed outlooks.

Tritonpoint Wealth LLC trimmed its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,188 shares of the financial services provider's stock after selling 918 shares during the period. Chubb makes up 0.9% of Tritonpoint Wealth LLC's investment portfolio, making the stock its 28th largest holding. Tritonpoint Wealth LLC's holdings in Chubb were worth $9,647,000 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. GQG Partners LLC raised its position in Chubb by 112.1% in the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock worth $2,836,899,000 after acquiring an additional 4,964,298 shares during the period. GAMMA Investing LLC raised its position in Chubb by 36,831.3% in the first quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock worth $629,357,000 after acquiring an additional 2,078,390 shares during the period. Nuveen LLC bought a new position in Chubb in the first quarter worth approximately $562,221,000. Demars Financial Group LLC raised its position in Chubb by 16.4% in the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock worth $1,884,004,000 after acquiring an additional 878,177 shares during the period. Finally, SG Americas Securities LLC raised its position in Chubb by 1,243.9% in the first quarter. SG Americas Securities LLC now owns 680,456 shares of the financial services provider's stock worth $205,491,000 after acquiring an additional 629,822 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CB shares. Hsbc Global Res downgraded shares of Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. HSBC cut 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 note on Friday, August 1st. Barclays cut 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 note on Monday, July 7th. Piper Sandler reissued a "neutral" rating and issued a $283.00 price objective (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Morgan Stanley reduced their price objective on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $303.06.

Chubb Stock Performance

CB opened at $280.77 on Friday. The stock has a market capitalization of $111.94 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 3.17 and a beta of 0.56. The company has a fifty day moving average of $273.84 and a 200 day moving average of $282.59. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 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 analyst estimates of $12.53 billion. During the same quarter last year, the business earned $5.38 earnings per share. Chubb's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be given 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 stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the transaction, the insider owned 91,180 shares in the company, valued at $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Corbat acquired 425 shares of the stock in a transaction on 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 transaction, the director directly 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 disclosure for this purchase can be found here. 0.77% of the stock is owned by company insiders.

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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