Handelsbanken Fonder AB Has $37.08 Million Holdings in Chubb Limited $CB

Key Points

• Handelsbanken Fonder AB reduced its Chubb stake by 2.7% in the fourth quarter, selling 3,299 shares and leaving it with 118,800 shares valued at about $37.08 million.
• Chubb reported strong recent results, including $6.82 EPS on $14.93 billion in quarterly revenue, and analysts expect 26.78 EPS for the current fiscal year.
• The insurer continues to attract bullish coverage: analysts have an average Moderate Buy rating with a $349.33 price target, while the company also pays a quarterly dividend of $0.97 per share (1.2% yield).

Handelsbanken Fonder AB cut its position in Chubb Limited (NYSE:CB - Free Report) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,800 shares of the financial services provider's stock after selling 3,299 shares during the quarter. Handelsbanken Fonder AB's holdings in Chubb were worth $37,080,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Berkshire Hathaway Inc grew its stake in shares of Chubb by 15.9% in the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock valued at $8,843,710,000 after buying an additional 4,299,111 shares in the last quarter. State Street Corp boosted its position in Chubb by 0.4% during the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider's stock worth $4,827,852,000 after purchasing an additional 68,553 shares during the period. Ameriprise Financial Inc. boosted its position in Chubb by 9.2% during the third quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider's stock worth $1,426,475,000 after purchasing an additional 427,512 shares during the period. Bank of America Corp DE boosted its position in Chubb by 11.6% during the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider's stock worth $1,428,278,000 after purchasing an additional 513,852 shares during the period. Finally, AQR Capital Management LLC boosted its position in Chubb by 75.1% during the third quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider's stock worth $785,468,000 after purchasing an additional 1,199,963 shares during the period. 83.81% of the stock is owned by institutional investors.

Chubb Stock Down 0.0%

CB stock opened at $330.20 on Wednesday. The company has a market cap of $128.07 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.69 and a beta of 0.43. The business has a 50-day simple moving average of $326.19 and a 200 day simple moving average of $315.00. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $345.67. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. The firm had revenue of $14.93 billion during the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. Sell-side analysts anticipate that Chubb Limited will post 26.78 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 6th. Shareholders of record on Friday, March 13th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $3.88 annualized dividend and a yield of 1.2%. Chubb's payout ratio is presently 13.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CB shares. Citigroup lifted their target price on Chubb from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Monday, February 9th. Keefe, Bruyette & Woods lifted their target price on Chubb from $373.00 to $374.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. UBS Group reissued a "neutral" rating and set a $340.00 target price on shares of Chubb in a report on Monday, February 9th. Cantor Fitzgerald reissued a "neutral" rating and set a $315.00 target price on shares of Chubb in a report on Wednesday, April 22nd. Finally, Citizens Jmp lifted their target price on Chubb from $350.00 to $365.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $349.33.

Insider Buying and Selling

In other Chubb news, Director Olivier Steimer sold 2,000 shares of the business's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the transaction, the director owned 25,468 shares of the company's stock, valued at approximately $8,386,612.40. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.37% of the company's stock.

About Chubb

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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