Swedbank AB Reduces Holdings in Chubb Limited $CB

Swedbank AB decreased its position in shares of Chubb Limited (NYSE:CB) by 10.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 238,937 shares of the financial services provider’s stock after selling 27,137 shares during the period. Swedbank AB’s holdings in Chubb were worth $72,157,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Voya Investment Management LLC increased its stake in Chubb by 48.6% during the 1st quarter. Voya Investment Management LLC now owns 112,192 shares of the financial services provider’s stock worth $33,881,000 after buying an additional 36,677 shares during the period. 1248 Management LLC purchased a new stake in Chubb during the 1st quarter worth $41,000. Hodges Capital Management Inc. increased its stake in Chubb by 33.1% during the 1st quarter. Hodges Capital Management Inc. now owns 2,085 shares of the financial services provider’s stock worth $630,000 after buying an additional 518 shares during the period. Modern Wealth Management LLC increased its stake in Chubb by 6.2% during the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock worth $744,000 after buying an additional 143 shares during the period. Finally, Nova Wealth Management Inc. purchased a new stake in Chubb during the 1st quarter worth $47,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 1.7%

Chubb stock opened at $278.02 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $274.38 and a two-hundred day moving average price of $283.34. The firm has a market capitalization of $110.84 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 3.19 and a beta of 0.56. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. Chubb’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $5.38 EPS. Sell-side analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb’s dividend payout ratio is currently 17.12%.

Insider Buying and Selling

In other news, insider John J. Lupica sold 5,513 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the sale, the insider directly owned 91,180 shares of the company’s stock, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, the director owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CB. Morgan Stanley dropped their target price on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Wells Fargo & Company dropped their target price on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 target price for the company. in a research report on Tuesday, May 20th. Evercore ISI set a $312.00 target price on shares of Chubb in a research report on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Chubb from $314.00 to $324.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $302.00.

Chubb Company 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.