QRG Capital Management Inc. Acquires 6,125 Shares of Chubb Limited (NYSE:CB)

QRG Capital Management Inc. raised its holdings in Chubb Limited (NYSE:CB) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,722 shares of the financial services provider’s stock after buying an additional 6,125 shares during the period. QRG Capital Management Inc.’s holdings in Chubb were worth $28,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in CB. California Public Employees Retirement System lifted its position in shares of Chubb by 1.1% during the fourth quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider’s stock valued at $373,110,000 after purchasing an additional 14,610 shares in the last quarter. Canopy Partners LLC lifted its position in shares of Chubb by 94.4% during the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock valued at $1,331,000 after purchasing an additional 2,340 shares in the last quarter. Vista Investment Partners II LLC bought a new position in shares of Chubb during the fourth quarter valued at about $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Chubb by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider’s stock valued at $760,853,000 after purchasing an additional 366,559 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Chubb during the fourth quarter valued at about $1,158,897,000. 83.81% of the stock is owned by institutional investors.

Chubb Stock Down 0.9%

CB opened at $286.59 on Monday. The company has a 50 day moving average of $287.72 and a 200 day moving average of $281.66. The company has a market cap of $114.84 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 3.36 and a beta of 0.54. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating the consensus estimate of $3.28 by $0.40. The company had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. On average, sell-side analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb declared that its board has approved a share buyback program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.35%. This is a boost from Chubb’s previous quarterly dividend of $0.91. Chubb’s payout ratio is currently 18.67%.

Insider Activity at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 12,231 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $294.82, for a total value of $3,605,943.42. Following the completion of the transaction, the executive vice president now owns 78,422 shares of the company’s stock, valued at $23,120,374.04. The trade was a 13.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John W. Keogh sold 85,083 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the transaction, the chief operating officer now directly owns 237,728 shares of the company’s stock, valued at approximately $68,998,174.72. This represents a 26.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,856 shares of company stock valued at $35,537,155. Corporate insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CB. Morgan Stanley raised their price target on shares of Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Barclays decreased their price objective on shares of Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Piper Sandler raised their price objective on shares of Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Finally, Wells Fargo & Company raised their price objective on shares of Chubb from $268.00 to $278.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.53.

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.