Chubb Limited $CB Shares Bought by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB increased its Chubb stake by 13.1% in the second quarter, acquiring 15,370 additional shares and bringing its holdings to 132,315 shares valued at approximately $45.1 million. Institutional investors and hedge funds own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, exceeding the $6.77 consensus estimate, while revenue rose 3.6% year over year to $11.97 billion. The company also raised its quarterly dividend to $1.02 per share, equivalent to a 1.2% annual yield.
• Shares opened at $347.14, near their 12-month high of $365.91. Analysts maintain a consensus “Hold” rating with an average price target of $360.09, while two company executives recently sold shares.

Handelsbanken Fonder AB raised its holdings in Chubb Limited (NYSE:CB - Free Report) by 13.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 132,315 shares of the financial services provider's stock after purchasing an additional 15,370 shares during the quarter. Handelsbanken Fonder AB's holdings in Chubb were worth $45,085,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Chubb by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock valued at $537,000 after buying an additional 221 shares during the period. Revolve Wealth Partners LLC acquired a new stake in Chubb during the fourth quarter worth about $205,000. Woodline Partners LP grew its holdings in Chubb by 13.0% during the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider's stock worth $3,805,000 after acquiring an additional 1,449 shares during the period. Sivia Capital Partners LLC raised its position in Chubb by 14.4% during the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider's stock valued at $403,000 after acquiring an additional 175 shares in the last quarter. Finally, Sei Investments Co. raised its position in Chubb by 9.3% during the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider's stock valued at $58,305,000 after acquiring an additional 17,155 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president directly owned 33,749 shares of the company's stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO John W. Keogh sold 23,000 shares of Chubb 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 completion of the sale, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.37% of the company's stock.

Chubb Stock Down 0.3%

Chubb stock opened at $347.14 on Wednesday. The stock has a market capitalization of $133.93 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.72 and a beta of 0.39. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The business has a 50 day simple moving average of $342.77 and a 200-day simple moving average of $331.31. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same period in the prior year, the company posted $6.14 EPS. The business's quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts anticipate that Chubb Limited will post 27.45 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were given a dividend of $1.02 per share. This is a boost from Chubb's previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, June 12th. Chubb's dividend payout ratio (DPR) is currently 14.43%.

Analysts Set New Price Targets

Several equities research analysts have commented on CB shares. UBS Group upped their price objective on Chubb from $340.00 to $369.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $354.00 target price on shares of Chubb in a report on Wednesday, July 22nd. Citigroup reiterated a "market outperform" rating on shares of Chubb in a research note on Wednesday, July 22nd. Barclays set a $387.00 price target on shares of Chubb in a report on Tuesday, July 7th. Finally, Evercore reaffirmed an "outperform" rating and issued a $374.00 price objective on shares of Chubb in a report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $360.09.

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.

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