Handelsbanken Fonder AB Sells 11,040 Shares of Chubb Limited (NYSE:CB)

Handelsbanken Fonder AB lowered its holdings in Chubb Limited (NYSE:CB - Free Report) by 7.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,705 shares of the financial services provider's stock after selling 11,040 shares during the period. Handelsbanken Fonder AB's holdings in Chubb were worth $39,472,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CB. California Public Employees Retirement System increased its stake in shares of Chubb by 1.1% in the fourth quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider's stock worth $373,110,000 after acquiring an additional 14,610 shares during the last quarter. Canopy Partners LLC increased its stake in shares of Chubb by 94.4% in the fourth quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider's stock worth $1,331,000 after acquiring an additional 2,340 shares during the last quarter. Vista Investment Partners II LLC acquired a new position in shares of Chubb in the fourth quarter worth $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Chubb by 15.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider's stock worth $760,853,000 after acquiring an additional 366,559 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Chubb in the fourth quarter worth $1,158,897,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CB. Jefferies Financial Group upped their price target on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a research report on Tuesday, May 20th. Raymond James reissued a "strong-buy" rating on shares of Chubb in a research report on Thursday, April 24th. JPMorgan Chase & Co. increased their target price on shares of Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company increased their target price on shares of Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $307.53.

Insider Activity at Chubb

In other Chubb news, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the sale, the chief operating officer now owns 237,728 shares of the company's stock, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy Alan Boroughs sold 14,748 shares of Chubb stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $296.12, for a total transaction of $4,367,177.76. Following the sale, the executive vice president now directly owns 29,194 shares of the company's stock, valued at $8,644,927.28. This represents a 33.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,856 shares of company stock valued at $35,537,155 over the last quarter. Corporate insiders own 0.77% of the company's stock.

Chubb Price Performance

CB traded down $2.70 during midday trading on Friday, reaching $286.59. 964,830 shares of the company's stock were exchanged, compared to its average volume of 1,616,868. The firm has a market capitalization of $114.84 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 3.36 and a beta of 0.54. The business has a 50-day simple moving average of $287.72 and a two-hundred day simple moving average of $281.78. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. Chubb Limited has a one year low of $251.42 and a one year high of $306.91.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.97 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio (DPR) is currently 18.67%.

Chubb declared that its Board of Directors has authorized a share repurchase program on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

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.