Xact Kapitalforvaltning AB Decreases Position in Chubb Ltd (CB)

Xact Kapitalforvaltning AB reduced its stake in Chubb Ltd (NYSE:CB) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,295 shares of the financial services provider’s stock after selling 5,197 shares during the period. Xact Kapitalforvaltning AB’s holdings in Chubb were worth $10,731,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Atlantic Trust LLC bought a new position in Chubb in the second quarter worth about $102,000. ELM Advisors LLC bought a new position in Chubb in the third quarter worth about $103,000. Clarus Wealth Advisors bought a new position in Chubb in the second quarter worth about $113,000. Legacy Advisors LLC raised its stake in Chubb by 1,612.0% in the third quarter. Legacy Advisors LLC now owns 856 shares of the financial services provider’s stock worth $115,000 after buying an additional 806 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in Chubb in the second quarter worth about $127,000. 85.56% of the stock is owned by institutional investors.

A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Chubb from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Citigroup decreased their target price on shares of Chubb from $157.00 to $151.00 and set a “buy” rating for the company in a research note on Thursday, July 12th. Atlantic Securities raised shares of Chubb from an “underweight” rating to a “neutral” rating in a research note on Wednesday, June 27th. ValuEngine raised shares of Chubb from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Barclays decreased their target price on shares of Chubb from $175.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday, July 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $159.45.

Shares of NYSE CB traded up $0.60 on Friday, reaching $128.09. 6,347 shares of the company’s stock traded hands, compared to its average volume of 1,593,341. Chubb Ltd has a 12 month low of $123.23 and a 12 month high of $157.50. The company has a market capitalization of $58.62 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 1.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $2.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.06. The company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.30 billion. Chubb had a net margin of 11.53% and a return on equity of 7.41%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.50 earnings per share. On average, analysts forecast that Chubb Ltd will post 10.15 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 21st were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Thursday, September 20th. Chubb’s dividend payout ratio (DPR) is currently 36.36%.

In related news, CEO Evan G. Greenberg sold 227,994 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $140.29, for a total transaction of $31,985,278.26. Following the completion of the sale, the chief executive officer now owns 1,583,326 shares of the company’s stock, valued at $222,124,804.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy Alan Boroughs sold 14,971 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $139.37, for a total transaction of $2,086,508.27. Following the sale, the insider now directly owns 202,794 shares of the company’s stock, valued at approximately $28,263,399.78. The disclosure for this sale can be found here. Insiders have sold 243,093 shares of company stock valued at $34,089,733 in the last three months. 0.44% of the stock is owned by insiders.

Chubb 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.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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