QRG Capital Management Inc. boosted its position in shares of Chubb Limited (NYSE:CB – Free Report) by 14.7% during the first quarter, Holdings Channel.com reports. The firm owned 63,604 shares of the financial services provider’s stock after buying an additional 8,137 shares during the quarter. QRG Capital Management Inc.’s holdings in Chubb were worth $20,731,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC grew its holdings in shares of Chubb by 148.5% during the 4th 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 during the period. Merkkuri Wealth Advisors LLC purchased a new position in shares of Chubb during the 1st quarter worth approximately $29,000. Laurel Wealth Advisors LLC acquired a new stake in Chubb in the 4th quarter valued at approximately $31,000. Ares Financial Consulting LLC acquired a new position in Chubb during the fourth quarter worth $32,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Chubb in the third quarter valued at $31,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the stock. Jefferies Financial Group cut their price target on shares of Chubb from $356.00 to $352.00 and set a “hold” rating on the stock in a research note on Thursday, April 23rd. Barclays reduced their price objective on Chubb from $375.00 to $368.00 and set an “equal weight” rating on the stock in a research note on Friday, June 12th. Wolfe Research increased their price target on Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. JPMorgan Chase & Co. upped their target price on shares of Chubb from $330.00 to $340.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Finally, Mizuho lowered their price target on shares of Chubb from $336.00 to $335.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $350.24.
Chubb Trading Down 0.1%
NYSE CB opened at $360.89 on Friday. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $361.33. The company has a market capitalization of $139.98 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.85 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. The firm’s fifty day moving average price is $327.40 and its 200 day moving average price is $323.05.
Chubb (NYSE:CB – Get Free Report) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The business had revenue of $14.93 billion during the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. On average, sell-side analysts expect that Chubb Limited will post 26.77 earnings per share for the current fiscal year.
Chubb Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were issued a $1.02 dividend. The ex-dividend date of this dividend was Friday, June 12th. This is a positive change from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. Chubb’s dividend payout ratio is currently 14.41%.
Insider Buying and Selling at Chubb
In related news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.
Chubb 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.
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