Tredje AP fonden Purchases 25,000 Shares of Chubb Limited (NYSE:CB)

Key Points

• Tredje AP fonden increased its holdings in Chubb Limited by 18.1%, owning 163,070 shares worth approximately $49.25 million after acquiring an additional 25,000 shares in the first quarter.
• Several hedge funds significantly boosted their stakes in Chubb, with Demars Financial Group raising its position by over 26,000%, resulting in holdings worth $1.48 billion.
• Chubb announced a quarterly dividend increase to $0.97 per share from $0.91, with a current annualized dividend yield of 1.45% and a payout ratio of 17.12%.

Tredje AP fonden increased its holdings in Chubb Limited (NYSE:CB - Free Report) by 18.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 163,070 shares of the financial services provider's stock after purchasing an additional 25,000 shares during the quarter. Tredje AP fonden's holdings in Chubb were worth $49,246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Peoples Bank KS bought a new position in Chubb during the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Chubb during the first quarter valued at approximately $25,000. North Capital Inc. bought a new position in shares of Chubb during the first quarter valued at approximately $26,000. IMA Advisory Services Inc. purchased a new stake in Chubb in the first quarter worth $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after acquiring an additional 89 shares during the period. Institutional investors own 83.81% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley upped their price objective on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Evercore ISI set a $312.00 price objective on shares of Chubb in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft downgraded Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price on the stock. in a report on Tuesday, May 20th. Barclays cut Chubb from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $321.00 to $298.00 in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. raised their price objective on Chubb from $300.00 to $307.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $301.50.

Insider Buying and Selling at Chubb

In related news, Director Michael Corbat bought 425 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the transaction, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,390 shares of company stock worth $29,163,135. Company insiders own 0.77% of the company's stock.

Chubb Stock Up 0.5%

Shares of NYSE CB traded up $1.36 during midday trading on Friday, hitting $267.40. The stock had a trading volume of 3,214,985 shares, compared to its average volume of 1,821,994. The company has a market cap of $106.61 billion, a P/E ratio of 11.80, a PEG ratio of 3.03 and a beta of 0.53. 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 business's 50 day moving average is $282.61 and its 200-day moving average is $282.34. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91.

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

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were paid a dividend of $0.97 per share. The ex-dividend date was Friday, June 13th. This represents a $3.88 annualized dividend and a yield of 1.5%. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio (DPR) is currently 17.12%.

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

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.