Chubb Limited $CB Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its position in Chubb Limited (NYSE:CB) by 13.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 132,315 shares of the financial services provider’s stock after purchasing an additional 15,370 shares during the period. Handelsbanken Fonder AB’s holdings in Chubb were worth $45,085,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CB. CBIZ Investment Advisory Services LLC raised its position in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after buying an additional 49 shares during the last quarter. Frazier Financial Advisors LLC boosted its position in Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. Merkkuri Wealth Advisors LLC acquired a new position in Chubb during the first quarter worth about $29,000. Laurel Wealth Advisors LLC purchased a new stake in Chubb during the 4th quarter valued at about $31,000. Finally, Ares Financial Consulting LLC purchased a new stake in Chubb during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on CB shares. Citigroup reiterated a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their target price on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Piper Sandler upped their price target on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $354.00 price target on shares of Chubb in a report on Wednesday, July 22nd. Finally, Morgan Stanley lifted their price objective on Chubb from $330.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $360.09.

Chubb Price Performance

Shares of CB stock opened at $347.14 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The firm’s 50-day moving average is $342.77 and its two-hundred day moving average is $331.31. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The company has a market capitalization of $133.93 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.72 and a beta of 0.39.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same period in the previous year, the business posted $6.14 EPS. Chubb’s revenue was up 3.6% on a year-over-year basis. Analysts predict that Chubb Limited will post 27.45 earnings per share for the current year.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, June 12th. This is a boost from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio is presently 14.43%.

Insider Buying and Selling

In related news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction that occurred on 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 directly owned 203,322 shares in the company, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the transaction, the executive vice president owned 33,749 shares of the company’s stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company’s stock.

About Chubb

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.