Swedbank AB Acquires 3,277 Shares of Chubb Limited $CB

Swedbank AB grew its holdings in Chubb Limited (NYSE:CB) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 242,214 shares of the financial services provider’s stock after acquiring an additional 3,277 shares during the period. Swedbank AB’s holdings in Chubb were worth $70,178,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Peoples Bank KS purchased a new stake in shares of Chubb in the first quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Chubb in the first quarter worth $25,000. North Capital Inc. purchased a new stake in shares of Chubb in the first quarter worth $26,000. IMA Advisory Services Inc. purchased a new stake in shares of Chubb in the first quarter worth $31,000. Finally, 1248 Management LLC purchased a new stake in shares of Chubb in the first quarter worth $31,000. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CB. Hsbc Global Res cut shares of Chubb from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Wolfe Research raised shares of Chubb to a “strong-buy” rating in a research note on Tuesday. Wells Fargo & Company cut 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 note on Thursday, July 24th. Morgan Stanley cut 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 note on Monday, August 18th. Finally, HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and cut their target price for the company from $317.00 to $300.00 in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $303.06.

Chubb Price Performance

CB stock opened at $274.36 on Friday. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. 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 company has a fifty day simple moving average of $273.84 and a two-hundred day simple moving average of $283.08. The firm has a market capitalization of $109.38 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 3.07 and a beta of 0.56.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter last year, the business earned $5.38 earnings per share. Chubb’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb’s dividend payout ratio (DPR) is 17.12%.

Insider Buying and Selling at Chubb

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

Chubb 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.