AMF Tjanstepension AB Sells 2,271 Shares of Chubb Limited (NYSE:CB)

Key Points

• AMF Tjanstepension AB sold 2.7% of its shares in Chubb Limited, reducing its holdings to 83,333 shares valued at approximately $25.2 million.
• Chubb's COO, John W. Keogh, sold 9,794 shares for about $2.87 million, reflecting a decrease in his ownership of 3.81%.
• The company recently announced an increase in its quarterly dividend from $0.91 to $0.97 per share, with a current dividend yield of 1.4%.

AMF Tjanstepension AB lowered its position in shares of Chubb Limited (NYSE:CB - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,333 shares of the financial services provider's stock after selling 2,271 shares during the period. AMF Tjanstepension AB's holdings in Chubb were worth $25,195,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Demars Financial Group LLC grew its stake in Chubb by 26,761.4% in the 4th quarter. Demars Financial Group LLC now owns 5,360,455 shares of the financial services provider's stock worth $1,481,094,000 after buying an additional 5,340,499 shares in the last quarter. GAMMA Investing LLC grew its stake in Chubb by 36,831.3% in the 1st quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider's stock worth $629,357,000 after buying an additional 2,078,390 shares in the last quarter. Royal Bank of Canada grew its stake in Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock worth $1,217,392,000 after buying an additional 1,403,545 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Chubb in the 4th quarter worth approximately $336,972,000. Finally, SG Americas Securities LLC grew its stake in Chubb by 1,243.9% in the 1st quarter. SG Americas Securities LLC now owns 680,456 shares of the financial services provider's stock worth $205,491,000 after buying an additional 629,822 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Chubb Trading Up 0.7%

NYSE:CB traded up $1.99 during midday trading on Friday, reaching $271.30. 961,053 shares of the stock traded hands, compared to its average volume of 2,191,179. The company has a fifty day moving average of $280.01 and a 200 day moving average of $282.42. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $108.16 billion, a P/E ratio of 11.97, a PEG ratio of 3.07 and a beta of 0.53.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period in the prior year, the business posted $5.38 EPS. The firm's revenue was up 6.3% compared to the same quarter last year. On average, research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb declared that its Board of Directors has approved a stock buyback program on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a $0.97 dividend. This is a boost from Chubb's previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb's dividend payout ratio (DPR) is currently 17.12%.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 85,083 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the completion of the transaction, the chief operating officer directly owned 237,728 shares in the company, valued at approximately $68,998,174.72. This represents a 26.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was 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 of the company's stock, valued at $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,390 shares of company stock worth $29,163,135. 0.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CB shares. HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and cut their price target for the stock from $317.00 to $300.00 in a research note on Friday, August 1st. UBS Group cut their price objective on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Piper Sandler reaffirmed a "neutral" rating and issued a $283.00 price objective (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Morgan Stanley upped their price objective on shares of Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $301.50.

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.