QRG Capital Management Inc. Increases Stock Position in Chubb Limited $CB

QRG Capital Management Inc. increased its holdings in Chubb Limited (NYSE:CB) by 14.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,604 shares of the financial services provider’s stock after buying an additional 8,137 shares during the period. QRG Capital Management Inc.’s holdings in Chubb were worth $20,731,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. CBIZ Investment Advisory Services LLC raised its holdings in Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 49 shares in the last quarter. Merkkuri Wealth Advisors LLC purchased a new position in Chubb in the first quarter worth $29,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Chubb during the 3rd quarter valued at $31,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Chubb in the 4th quarter worth $31,000. Finally, Ares Financial Consulting LLC acquired a new position in Chubb during the 4th quarter valued at about $32,000. 83.81% of the stock is owned by institutional investors.

Chubb Trading Down 0.1%

CB stock opened at $360.89 on Friday. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $361.33. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. The firm has a market cap of $139.98 billion, a P/E ratio of 12.74, a PEG ratio of 1.85 and a beta of 0.40. The company’s 50-day simple moving average is $327.40 and its 200-day simple moving average is $323.05.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The company had revenue of $14.93 billion for the quarter. As a group, equities analysts forecast that Chubb Limited will post 26.77 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, June 12th. This is a positive change from Chubb’s previous quarterly dividend of $0.97. Chubb’s payout ratio is presently 14.41%.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CB has been the subject of several research analyst reports. Barclays decreased their price objective on shares of Chubb from $375.00 to $368.00 and set an “equal weight” rating for the company in a research report on Friday, June 12th. JPMorgan Chase & Co. lifted their price target on Chubb from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Wolfe Research lifted their target price on Chubb from $372.00 to $373.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Wells Fargo & Company raised their price target on shares of Chubb from $321.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Finally, Piper Sandler increased their price objective on shares of Chubb from $328.00 to $340.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $350.24.

Chubb Company Profile

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.