Forsta AP Fonden lessened its stake in shares of Chubb Ltd (NYSE:CB) by 16.6% in the second quarter, HoldingsChannel reports. The firm owned 47,276 shares of the financial services provider’s stock after selling 9,400 shares during the quarter. Forsta AP Fonden’s holdings in Chubb were worth $6,005,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Clarus Wealth Advisors purchased a new stake in Chubb during the 2nd quarter worth about $113,000. Fairfield Bush & CO. purchased a new stake in Chubb during the 1st quarter worth about $137,000. FNY Investment Advisers LLC purchased a new stake in Chubb in the 2nd quarter valued at about $127,000. Adviser Investments LLC purchased a new stake in Chubb in the 1st quarter valued at about $140,000. Finally, Edge Wealth Management LLC purchased a new stake in Chubb in the 2nd quarter valued at about $133,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

CB opened at $138.11 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $62.38 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 1.29 and a beta of 1.03. Chubb Ltd has a 12 month low of $123.96 and a 12 month high of $157.50.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 24th. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.62 by $0.06. Chubb had a return on equity of 7.41% and a net margin of 11.53%. The business had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.30 billion. During the same quarter in the previous year, the business earned $2.50 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. sell-side analysts forecast that Chubb Ltd will post 10.41 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 21st will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 20th. Chubb’s payout ratio is currently 36.36%.

Several research firms have commented on CB. ValuEngine upgraded Chubb from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. Deutsche Bank cut Chubb from a “hold” rating to a “sell” rating and lowered their price target for the company from $135.00 to $126.00 in a report on Monday, August 13th. Wells Fargo & Co restated a “buy” rating on shares of Chubb in a report on Wednesday, August 8th. Credit Suisse Group began coverage on Chubb in a report on Tuesday, August 7th. They issued a “neutral” rating and a $150.00 price target for the company. Finally, Citigroup lifted their price target on Chubb from $151.00 to $157.00 and gave the company a “buy” rating in a report on Monday, July 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $160.09.

Chubb Company Profile

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

Further Reading: What is a Leveraged Buyout (LBO)?

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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