Vicus Capital Reduces Stock Holdings in Chubb Limited $CB

Vicus Capital lowered its stake in shares of Chubb Limited (NYSE:CB) by 7.8% during the second quarter, Holdings Channel reports. The firm owned 1,350 shares of the financial services provider’s stock after selling 114 shares during the period. Vicus Capital’s holdings in Chubb were worth $391,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. GQG Partners LLC raised its stake in Chubb by 112.1% during 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 in the last quarter. Demars Financial Group LLC grew its holdings in shares of Chubb by 16.4% during the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock worth $1,884,004,000 after purchasing an additional 878,177 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Chubb by 6.9% during 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Chubb by 1.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider’s stock valued at $840,756,000 after purchasing an additional 30,334 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Chubb in the 1st quarter valued at about $562,221,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Price Performance

Shares of CB opened at $281.73 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $274.46 and its two-hundred day moving average is $282.32. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The firm has a market capitalization of $112.32 billion, a PE ratio of 12.43, a P/E/G ratio of 3.18 and a beta of 0.54.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the prior year, the business posted $5.38 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb’s payout ratio is presently 17.12%.

Insider Activity at Chubb

In related news, Director Michael Corbat purchased 425 shares of the stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the purchase, the director directly owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

CB has been the topic of several research analyst reports. Citigroup initiated coverage on Chubb in a research report on Wednesday, August 13th. They set a “buy” rating and a $326.00 price target on the stock. Barclays cut shares of Chubb from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $321.00 to $298.00 in a report on Monday, July 7th. UBS Group decreased their price target on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. Wells Fargo & Company dropped their price objective on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 24th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $283.00 target price (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $303.24.

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.