Varma Mutual Pension Insurance Co Has $18.07 Million Holdings in Chubb Limited $CB

Varma Mutual Pension Insurance Co lifted its position in shares of Chubb Limited (NYSE:CB) by 8.8% in the third quarter, HoldingsChannel.com reports. The fund owned 64,021 shares of the financial services provider’s stock after buying an additional 5,200 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Chubb were worth $18,070,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Chubb by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 36,738,895 shares of the financial services provider’s stock worth $10,643,993,000 after buying an additional 210,053 shares during the last quarter. Geode Capital Management LLC raised its stake in Chubb by 0.3% during the second quarter. Geode Capital Management LLC now owns 8,810,780 shares of the financial services provider’s stock worth $2,541,771,000 after acquiring an additional 30,721 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after acquiring an additional 513,852 shares during the last quarter. Norges Bank acquired a new stake in shares of Chubb in the 2nd quarter valued at approximately $1,195,137,000. Finally, Charles Schwab Investment Management Inc. increased its position in Chubb by 0.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,253,607 shares of the financial services provider’s stock worth $652,915,000 after purchasing an additional 18,820 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CB has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Chubb in a research note on Monday, December 29th. Evercore boosted their price objective on Chubb from $346.00 to $347.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Roth Mkm upped their target price on Chubb from $330.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. JMP Securities reissued a “market outperform” rating and set a $325.00 price target on shares of Chubb in a research note on Wednesday, October 22nd. Finally, Wolfe Research boosted their target price on shares of Chubb from $364.00 to $372.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $340.09.

Chubb Stock Performance

NYSE:CB opened at $332.42 on Friday. The company has a market capitalization of $130.82 billion, a PE ratio of 12.92, a P/E/G ratio of 2.10 and a beta of 0.49. The company has a 50 day simple moving average of $310.12 and a two-hundred day simple moving average of $290.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.24. Chubb Limited has a fifty-two week low of $263.14 and a fifty-two week high of $335.60.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $11.11 billion. During the same period last year, the business posted $6.02 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. Research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, December 12th. Chubb’s dividend payout ratio is presently 15.08%.

Insiders Place Their Bets

In other Chubb news, EVP Timothy Alan Boroughs sold 27,817 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the sale, the executive vice president owned 11,810 shares in the company, valued at approximately $3,920,683.80. The trade was a 70.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 15,060 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was 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 approximately $169,572,096.72. The trade was a 2.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 54,307 shares of company stock worth $17,611,016. 0.77% of the stock is owned by company insiders.

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.