Swedbank AB Cuts Stock Holdings in Chubb Limited $CB

Swedbank AB reduced its position in Chubb Limited (NYSE:CB) by 14.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 216,445 shares of the financial services provider’s stock after selling 37,210 shares during the quarter. Swedbank AB’s holdings in Chubb were worth $70,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CB. Spire Wealth Management raised its stake in shares of Chubb by 490.5% during the 4th quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider’s stock worth $2,689,000 after buying an additional 7,156 shares during the period. Chesley Taft & Associates LLC raised its position in Chubb by 7.4% during the fourth quarter. Chesley Taft & Associates LLC now owns 102,427 shares of the financial services provider’s stock worth $31,970,000 after acquiring an additional 7,043 shares during the period. Pallas Capital Advisors LLC lifted its holdings in Chubb by 42.3% during the fourth quarter. Pallas Capital Advisors LLC now owns 14,243 shares of the financial services provider’s stock valued at $4,446,000 after purchasing an additional 4,233 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Chubb by 1.7% in the first quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock valued at $102,959,000 after purchasing an additional 5,225 shares during the period. Finally, waypoint wealth counsel grew its position in shares of Chubb by 76.4% in the fourth quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider’s stock valued at $1,285,000 after purchasing an additional 1,784 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Trading Up 0.7%

Shares of Chubb stock opened at $358.96 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. The stock’s 50 day simple moving average is $328.53 and its 200-day simple moving average is $323.77. The stock has a market cap of $139.23 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.82 and a beta of 0.40. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $365.29.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The firm had revenue of $14.93 billion during the quarter. Analysts predict that Chubb Limited will post 26.77 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were paid a $1.02 dividend. This is a boost from Chubb’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. Chubb’s dividend payout ratio is 14.41%.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on CB. BMO Capital Markets upped their price target on shares of Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Weiss Ratings upgraded Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Keefe, Bruyette & Woods boosted their price objective on Chubb from $373.00 to $374.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. increased their target price on Chubb from $330.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Finally, Bank of America decreased their target price on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $350.81.

Chubb Company 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.