Varma Mutual Pension Insurance Co Acquires Shares of 68,921 Chubb Limited $CB

Varma Mutual Pension Insurance Co purchased a new position in shares of Chubb Limited (NYSE:CB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 68,921 shares of the financial services provider’s stock, valued at approximately $23,484,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its stake in shares of Chubb by 1.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock valued at $102,959,000 after buying an additional 5,225 shares in the last quarter. National Pension Service grew its stake in Chubb by 24.4% in the 4th quarter. National Pension Service now owns 1,148,474 shares of the financial services provider’s stock valued at $358,462,000 after buying an additional 225,515 shares in the last quarter. Harbour Investments Inc. raised its holdings in Chubb by 884.1% during the 4th quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider’s stock valued at $3,108,000 after acquiring an additional 8,947 shares during the period. Bessemer Group Inc. raised its holdings in Chubb by 16.8% during the 1st quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider’s stock valued at $5,424,000 after acquiring an additional 2,389 shares during the period. Finally, Crossmark Global Holdings Inc. raised its holdings in Chubb by 27.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 44,613 shares of the financial services provider’s stock valued at $13,925,000 after acquiring an additional 9,678 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CB. Morgan Stanley lifted their price objective on Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday. Weiss Ratings upgraded shares of Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Evercore reissued an “outperform” rating and set a $374.00 price target on shares of Chubb in a research report on Friday, July 10th. Citigroup reissued a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Finally, UBS Group boosted their price objective on shares of Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chubb presently has a consensus rating of “Hold” and an average target price of $361.00.

Insider Buying and Selling 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 shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by company insiders.

Chubb Stock Performance

Shares of CB opened at $341.15 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average price is $345.88 and its 200-day moving average price is $333.31. Chubb Limited has a 52 week low of $265.30 and a 52 week high of $365.91. The stock has a market cap of $131.62 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.65 and a beta of 0.39.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The company had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $6.14 EPS. Equities research analysts anticipate that Chubb Limited will post 27.49 earnings per share for the current fiscal year.

Chubb Announces Dividend

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

Chubb Profile

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.