Avanza Fonder AB Buys Shares of 25,645 Chubb Limited (NYSE:CB)

Avanza Fonder AB bought a new stake in Chubb Limited (NYSE:CB) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 25,645 shares of the financial services provider’s stock, valued at approximately $7,733,000.

Several other hedge funds have also recently made changes to their positions in CB. Brighton Jones LLC raised its stake in shares of Chubb by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock valued at $537,000 after buying an additional 221 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Chubb during the 4th quarter valued at $205,000. Silver Oak Securities Incorporated bought a new stake in shares of Chubb during the 4th quarter valued at $170,000. Strategic Financial Concepts LLC bought a new stake in shares of Chubb during the 4th quarter valued at $30,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Chubb during the 4th quarter valued at $139,000. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CB shares. UBS Group boosted their price objective on Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on Chubb from $316.00 to $314.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective on the stock in a research note on Wednesday, March 5th. Piper Sandler boosted their price objective on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley boosted their price objective on Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.53.

Insider Activity at Chubb

In related news, CAO George F. Ohsiek sold 763 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $290.41, for a total transaction of $221,582.83. Following the completion of the sale, the chief accounting officer now directly owns 20,044 shares in the company, valued at $5,820,978.04. This represents a 3.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John W. Keogh sold 85,083 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the sale, the chief operating officer now owns 237,728 shares of the company’s stock, valued at $68,998,174.72. This represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,825 shares of company stock worth $32,889,194 in the last ninety days. 0.77% of the stock is owned by company insiders.

Chubb Price Performance

CB opened at $289.83 on Tuesday. The stock has a 50-day moving average price of $287.40 and a 200-day moving average price of $281.71. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $116.14 billion, a P/E ratio of 12.76, a PEG ratio of 3.36 and a beta of 0.54.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. Chubb had a return on equity of 13.75% and a net margin of 16.63%. The firm had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $11.22 billion. Equities analysts predict that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a $0.97 dividend. This is a boost from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, June 13th. Chubb’s dividend payout ratio is presently 18.67%.

Chubb announced that its Board of Directors has authorized a stock repurchase plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.