Andra AP fonden Raises Stake in Chubb Limited $CB

Andra AP fonden boosted its position in shares of Chubb Limited (NYSE:CB) by 25.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,803 shares of the financial services provider’s stock after acquiring an additional 15,760 shares during the period. Andra AP fonden’s holdings in Chubb were worth $26,511,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its position in shares of Chubb by 1.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock worth $102,959,000 after buying an additional 5,225 shares during the last quarter. Equitable Holdings Inc. acquired a new stake in Chubb during the 2nd quarter worth $4,139,000. XXEC Inc. acquired a new stake in Chubb during the 2nd quarter worth $26,210,000. Berkshire Hathaway Inc purchased a new stake in Chubb in the second quarter valued at $11,670,067,000. Finally, Glenview Trust Co acquired a new position in Chubb in the second quarter valued at $11,147,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Michael P. Connors sold 5,500 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director owned 12,803 shares in the company, valued at $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph Wayland sold 8,502 shares of Chubb stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the sale, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CB. The Goldman Sachs Group lifted their target price on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $354.00 price target on shares of Chubb in a research note on Wednesday, July 22nd. Atlantic Securities set a $301.00 price target on Chubb in a research report on Wednesday, July 15th. Citigroup reissued a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Finally, Mizuho lowered their target price on shares of Chubb from $352.00 to $347.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Chubb currently has a consensus rating of “Hold” and an average price target of $360.77.

Chubb Stock Performance

Chubb stock traded down $0.93 during mid-day trading on Tuesday, reaching $336.33. 529,703 shares of the company were exchanged, compared to its average volume of 1,724,333. The firm’s 50-day simple moving average is $345.50 and its two-hundred day simple moving average is $334.89. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91. The firm has a market cap of $129.76 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.62 and a beta of 0.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter in the prior year, the business earned $6.14 earnings per share. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities analysts predict that Chubb Limited will post 27.35 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb’s dividend payout ratio (DPR) is 14.43%.

Chubb Profile

Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. The company serves businesses, individuals, and institutional clients, offering coverage for commercial property, liability, marine, cyber risk, workers’ compensation, professional lines, personal assets, and other specialty risks.

Chubb distributes its products through brokers, agents, banks, and other business partners. Its commercial insurance operations serve companies ranging from small businesses to multinational corporations, while its personal insurance business provides coverage for homes, automobiles, valuable possessions, and other personal risks.