QRG Capital Management Inc. Trims Position in Chubb Limited $CB

QRG Capital Management Inc. reduced its position in Chubb Limited (NYSE:CB) by 35.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 52,915 shares of the financial services provider’s stock after selling 29,286 shares during the quarter. QRG Capital Management Inc.’s holdings in Chubb were worth $14,935,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Chubb by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 36,738,895 shares of the financial services provider’s stock valued at $10,643,993,000 after purchasing an additional 210,053 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Chubb by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 8,810,780 shares of the financial services provider’s stock worth $2,541,771,000 after buying an additional 30,721 shares in the last quarter. Bank of America Corp DE increased its holdings in Chubb by 11.6% during the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after acquiring an additional 513,852 shares in the last quarter. Norges Bank acquired a new position in Chubb during the second quarter worth about $1,195,137,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Chubb by 0.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,253,607 shares of the financial services provider’s stock valued at $652,915,000 after purchasing an additional 18,820 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group upped their target price on Chubb from $302.00 to $326.00 and gave the company a “hold” rating in a research note on Tuesday, December 16th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research report on Friday. Wolfe Research raised their price target on shares of Chubb from $336.00 to $364.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. JMP Securities reissued a “market outperform” rating and issued a $325.00 price objective on shares of Chubb in a research report on Wednesday, October 22nd. Finally, Citigroup restated a “market outperform” rating on shares of Chubb in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Chubb has a consensus rating of “Moderate Buy” and an average target price of $324.76.

Insider Activity

In other Chubb news, insider John J. Lupica sold 23,698 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $281.00, for a total value of $6,659,138.00. Following the transaction, the insider directly owned 90,600 shares of the company’s stock, valued at $25,458,600. This trade represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joseph F. Wayland sold 5,830 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $297.08, for a total value of $1,731,976.40. Following the transaction, the executive vice president owned 60,593 shares in the company, valued at approximately $18,000,968.44. This represents a 8.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 57,333 shares of company stock valued at $16,629,873. Company insiders own 0.77% of the company’s stock.

Chubb Price Performance

Shares of Chubb stock opened at $300.60 on Friday. The business’s fifty day moving average price is $303.22 and its 200 day moving average price is $285.92. Chubb Limited has a twelve month low of $263.14 and a twelve month high of $316.94. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $118.30 billion, a P/E ratio of 12.55, a PEG ratio of 3.15 and a beta of 0.51.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company had revenue of $16.15 billion for the quarter, compared to the consensus estimate of $12.95 billion. During the same period last year, the business posted $5.72 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.3%. Chubb’s dividend payout ratio is presently 16.19%.

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.