Danske Bank A S Purchases New Stake in Chubb Limited $CB

Danske Bank A S purchased a new stake in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 696,406 shares of the financial services provider’s stock, valued at approximately $237,293,000. Danske Bank A S owned about 0.18% of Chubb at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Diversify Advisory Services LLC acquired a new position in shares of Chubb in the second quarter valued at $1,138,000. Gables Capital Management Inc. bought a new position in shares of Chubb in the second quarter valued at about $48,000. Wealthfront Advisers LLC acquired a new stake in shares of Chubb during the 2nd quarter worth about $29,117,000. Foster & Motley Inc. acquired a new stake in Chubb during the second quarter worth approximately $1,442,000. Finally, Main Street Financial Solutions LLC bought a new position in shares of Chubb during the second quarter worth approximately $2,547,000. 83.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler lifted their price target on Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. BMO Capital Markets upped their price objective on Chubb from $326.00 to $339.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods increased their price objective on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 29th. Finally, Cantor Fitzgerald boosted their price objective on shares of Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $360.09.

Insider Transactions at Chubb

In related news, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. This represents a 20.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.37% of the company’s stock.

Chubb Trading Up 1.4%

Shares of NYSE CB opened at $345.56 on Wednesday. The stock has a market cap of $133.32 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39. 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 Limited has a 52-week low of $265.30 and a 52-week high of $365.91. The firm has a 50 day moving average price of $345.10 and a two-hundred day moving average price of $332.77.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same quarter in the previous year, the company posted $6.14 EPS. The business’s revenue was up 3.6% on a year-over-year basis. As a group, equities analysts forecast that Chubb Limited will post 27.45 EPS for the current year.

Chubb Announces Dividend

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

About Chubb

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.