PFA Pension Forsikringsaktieselskab Invests $70.82 Million in Chubb Limited $CB

PFA Pension Forsikringsaktieselskab acquired a new position in Chubb Limited (NYSE:CB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 225,429 shares of the financial services provider’s stock, valued at approximately $70,816,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Horizon Investments LLC grew its position in Chubb by 9.6% in the fourth quarter. Horizon Investments LLC now owns 34,159 shares of the financial services provider’s stock worth $10,662,000 after acquiring an additional 2,985 shares during the period. One Wealth Advisors LLC purchased a new position in Chubb in the fourth quarter worth approximately $1,002,000. Davis Selected Advisers grew its position in Chubb by 10.9% in the fourth quarter. Davis Selected Advisers now owns 1,186,647 shares of the financial services provider’s stock worth $370,380,000 after acquiring an additional 116,202 shares during the period. Robertson Stephens Wealth Management LLC grew its position in Chubb by 203.6% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 3,330 shares of the financial services provider’s stock worth $1,043,000 after acquiring an additional 2,233 shares during the period. Finally, Madrid Wealth Management LLC purchased a new position in Chubb in the fourth quarter worth approximately $583,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Evan G. Greenberg sold 15,060 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the sale, the chief executive officer directly owned 511,576 shares of the company’s stock, valued at $169,572,096.72. This represents a 2.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Olivier Steimer sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total transaction of $658,600.00. Following the sale, the director directly owned 25,468 shares in the company, valued at approximately $8,386,612.40. The trade was a 7.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 44,877 shares of company stock valued at $14,885,226 in the last ninety days. Company insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of several analyst reports. Barclays increased their price objective on Chubb from $374.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Citigroup upped their price objective on shares of Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Mizuho decreased their price objective on shares of Chubb from $336.00 to $335.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Piper Sandler upped their price objective on shares of Chubb from $319.00 to $328.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Chubb from $321.00 to $333.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $349.33.

Chubb Stock Down 0.2%

Shares of NYSE:CB opened at $326.39 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.27. The firm has a market capitalization of $126.59 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.67 and a beta of 0.43. The firm’s 50-day moving average is $329.03 and its two-hundred day moving average is $311.15. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The company had revenue of $14.93 billion for the quarter. Analysts predict that Chubb Limited will post 26.74 EPS for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Friday, March 13th were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, March 13th. Chubb’s dividend payout ratio is presently 13.70%.

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.