MQS Management LLC Takes $428,000 Position in Chubb Limited $CB

MQS Management LLC bought a new position in Chubb Limited (NYSE:CB) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,479 shares of the financial services provider’s stock, valued at approximately $428,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GQG Partners LLC lifted its holdings in shares of Chubb by 112.1% in the 1st 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 last quarter. Nuveen LLC purchased a new position in Chubb in the 1st quarter worth $562,221,000. Ameriprise Financial Inc. lifted its stake in Chubb by 6.9% in the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after purchasing an additional 304,751 shares during the last quarter. Cohen Investment Advisors LLC boosted its position in Chubb by 2,408.4% during the first quarter. Cohen Investment Advisors LLC now owns 292,911 shares of the financial services provider’s stock valued at $88,456,000 after buying an additional 281,234 shares during the period. Finally, Citigroup Inc. grew its stake in shares of Chubb by 79.0% during the first quarter. Citigroup Inc. now owns 631,628 shares of the financial services provider’s stock valued at $190,745,000 after buying an additional 278,697 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

CB opened at $281.86 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.34. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The stock has a market capitalization of $112.38 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. The stock’s 50 day moving average price is $277.65 and its 200-day moving average price is $280.91.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The firm had revenue of $14.87 billion for the quarter, compared to analysts’ expectations of $12.95 billion. During the same period in the previous year, the firm earned $5.72 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb’s payout ratio is 16.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CB shares. Evercore ISI raised their price objective on Chubb from $312.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $283.00 price target on shares of Chubb in a research note on Thursday. HSBC cut Chubb from a “buy” rating to a “hold” rating and decreased their price target for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their price target on Chubb from $321.00 to $327.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Finally, Citigroup lifted their price target on Chubb from $326.00 to $331.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $306.42.

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.