Swedbank AB Lowers Holdings in Chubb Limited $CB

Key Points

• Swedbank AB reduced its holdings in Chubb Limited by 10.2% in the first quarter, lowering ownership to 0.06% of the company, valued at approximately $72.16 million.
• Chubb Limited reported earnings of $6.14 per share for the last quarter, beating estimates and achieving a 16.08% net margin with revenues of $14.20 billion.
• The company announced a quarterly dividend of $0.97 per share, with an annualized yield of 1.4%, to be paid on October 3rd.

Swedbank AB lowered its holdings in Chubb Limited (NYSE:CB - Free Report) by 10.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,937 shares of the financial services provider's stock after selling 27,137 shares during the quarter. Swedbank AB owned 0.06% of Chubb worth $72,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CB. Legato Capital Management LLC grew its holdings in Chubb by 120.9% during the first quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider's stock valued at $3,080,000 after purchasing an additional 5,582 shares during the period. Jump Financial LLC raised its position in Chubb by 633.6% during the first quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider's stock valued at $2,470,000 after purchasing an additional 7,065 shares during the period. Davis Rea LTD. bought a new position in shares of Chubb during the first quarter valued at approximately $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Chubb by 15.4% in the 4th 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 buying an additional 366,559 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Chubb by 3.3% in the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock worth $13,070,000 after buying an additional 1,375 shares during the period. Institutional investors own 83.81% of the company's stock.

Chubb Price Performance

Shares of NYSE:CB opened at $278.02 on Friday. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The company has a market cap of $110.84 billion, a P/E ratio of 12.26, a PEG ratio of 3.19 and a beta of 0.56. The company has a 50-day moving average price of $274.38 and a 200 day moving average price of $283.34.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (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 analysts' expectations of $12.53 billion. During the same period last year, the company posted $5.38 earnings per share. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. Chubb's dividend payout ratio (DPR) is 17.12%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CB shares. Wells Fargo & Company lowered their price objective on Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research report on Thursday, July 24th. Cantor Fitzgerald upgraded Chubb to a "hold" rating in a research note on Wednesday, August 13th. Barclays cut Chubb from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Hsbc Global Res lowered Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lowered Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective on the stock. in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chubb currently has an average rating of "Hold" and an average target price of $302.00.

Insider Buying and Selling

In related news, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the sale, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. This trade represents a 5.70% 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 this hyperlink. Also, Director Michael Corbat bought 425 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director owned 2,450 shares of the company's stock, valued at $661,010. The trade was a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.77% of the stock is currently owned by company insiders.

About Chubb

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.

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