Tredje AP fonden Buys 14,300 Shares of Chubb Limited (NYSE:CB)

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

Other institutional investors also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Chubb by 5.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 29,259 shares of the financial services provider’s stock worth $7,463,000 after buying an additional 1,388 shares in the last quarter. Argent Trust Co raised its holdings in Chubb by 1.5% in the 2nd quarter. Argent Trust Co now owns 8,393 shares of the financial services provider’s stock worth $2,141,000 after acquiring an additional 125 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its holdings in Chubb by 5.7% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 20,982 shares of the financial services provider’s stock worth $5,352,000 after acquiring an additional 1,128 shares during the last quarter. Financial & Tax Architects LLC lifted its position in Chubb by 25.9% in the 2nd quarter. Financial & Tax Architects LLC now owns 1,848 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 380 shares in the last quarter. Finally, Abbot Financial Management Inc. boosted its stake in Chubb by 3.1% during the 2nd quarter. Abbot Financial Management Inc. now owns 3,342 shares of the financial services provider’s stock valued at $852,000 after purchasing an additional 101 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was 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 owns 583,982 shares in the company, valued at $167,748,829.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the sale, the executive vice president now directly owns 45,853 shares in the company, valued at approximately $12,199,649.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $287.25, for a total value of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares in the company, valued at $167,748,829.50. The disclosure for this sale can be found here. Insiders have sold a total of 94,836 shares of company stock worth $27,055,900 in the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Chubb Price Performance

NYSE:CB opened at $290.78 on Wednesday. The stock has a market cap 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 quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. The business’s 50-day simple moving average is $273.91 and its two-hundred day simple moving average is $262.59. Chubb Limited has a 52 week low of $204.15 and a 52 week high of $294.18.

Chubb (NYSE:CB) last posted 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 business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.92 EPS. As a group, analysts forecast that Chubb Limited will post 21.2 EPS for the current fiscal year.

Chubb Announces Dividend

The business 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. The ex-dividend date is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. Chubb’s dividend payout ratio is currently 16.16%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CB. Barclays initiated coverage on Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target on the stock. Roth Mkm upped their target price on shares of Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. JMP Securities boosted their price objective on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their target price on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $274.70.

About Chubb

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.