Tredje AP fonden Boosts Position in Chubb Limited (NYSE:CB)

Tredje AP fonden boosted its stake in shares of Chubb Limited (NYSE:CB) by 12.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,724 shares of the financial services provider’s stock after buying an additional 14,300 shares during the quarter. Tredje AP fonden’s holdings in Chubb were worth $32,325,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CB. Capital Research Global Investors increased its stake in shares of Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after buying an additional 2,064,730 shares during the period. Capital World Investors increased its position in Chubb by 6.6% during the 1st quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock valued at $2,849,677,000 after purchasing an additional 685,677 shares during the period. Confluence Investment Management LLC bought a new stake in shares of Chubb in the 1st quarter valued at about $165,932,000. Bank of Nova Scotia lifted its position in shares of Chubb by 198.8% in the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after purchasing an additional 518,535 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Chubb by 14.8% during the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock valued at $918,294,000 after purchasing an additional 457,881 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Down 0.2 %

Shares of CB stock opened at $290.78 on Wednesday. Chubb Limited has a fifty-two week low of $204.15 and a fifty-two week high of $294.18. The firm has a market capitalization of $118.07 billion, a PE ratio of 12.91, a P/E/G ratio of 5.59 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s 50-day simple moving average is $273.91 and its 200-day simple moving average is $262.59.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.34. The company had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. Chubb’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.92 EPS. Equities analysts expect that Chubb Limited will post 21.2 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, September 13th. Chubb’s payout ratio is 16.16%.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 30,537 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the completion of the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the completion of the transaction, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,836 shares of company stock valued at $27,055,900. Company insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their target price on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Royal Bank of Canada upped their price objective on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Roth Mkm lifted their target price on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JMP Securities boosted their target price on shares of Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley lowered their price target on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Chubb currently has an average rating of “Hold” and a consensus target price of $274.70.

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.