SEB Asset Management AB Makes New Investment in Chubb Limited $CB

Key Points

• SEB Asset Management AB opened a new position in Chubb during the first quarter, buying 519,939 shares valued at about $169.5 million. The stake represents 0.7% of SEB’s portfolio and about 0.13% of Chubb.
• Analysts have been mixed on Chubb, with several firms raising price targets and issuing buy-oriented ratings, while the overall consensus remains "Hold" with a target price of $357.73.
• Chubb recently raised its quarterly dividend to $1.02 per share from $0.97, while reporting solid fundamentals including $6.82 in quarterly EPS and a 1.2% dividend yield.

SEB Asset Management AB acquired a new stake in Chubb Limited (NYSE:CB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 519,939 shares of the financial services provider's stock, valued at approximately $169,464,000. Chubb makes up 0.7% of SEB Asset Management AB's portfolio, making the stock its 24th largest position. SEB Asset Management AB owned about 0.13% of Chubb as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC lifted its holdings in Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock worth $26,000 after purchasing an additional 49 shares in the last quarter. Frazier Financial Advisors LLC grew its holdings in Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after buying an additional 38 shares in the last quarter. Merkkuri Wealth Advisors LLC purchased a new stake in Chubb during the 1st quarter valued at approximately $29,000. Laurel Wealth Advisors LLC purchased a new position in shares of Chubb in the fourth quarter worth $31,000. Finally, Ares Financial Consulting LLC bought a new position in shares of Chubb during the fourth quarter worth $32,000. Institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Chubb from $362.00 to $386.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. boosted their price target on shares of Chubb from $330.00 to $340.00 and gave the stock a "neutral" rating in a research note on Monday, April 20th. Keefe, Bruyette & Woods increased their price objective on shares of Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, June 29th. Finally, Atlantic Securities set a $301.00 target price on Chubb in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $357.73.

Insider Transactions at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by insiders.

Chubb Stock Performance

Chubb stock opened at $352.07 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $365.29. The firm has a market capitalization of $136.55 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.82 and a beta of 0.40. The company's 50-day moving average is $332.32 and its 200 day moving average is $325.68.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The business 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%. Research analysts forecast that Chubb Limited will post 26.75 EPS for the current year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Chubb's previous quarterly dividend of $0.97. Chubb's dividend payout ratio is 14.41%.

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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