Andra AP fonden Acquires New Holdings in Chubb Limited $CB

Andra AP fonden purchased a new stake in Chubb Limited (NYSE:CB) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,700 shares of the financial services provider’s stock, valued at approximately $2,173,000.

A number of other hedge funds have also modified their holdings of the company. R Squared Ltd bought a new stake in shares of Chubb in the 3rd quarter valued at about $593,000. Mill Creek Capital Advisors LLC grew its stake in shares of Chubb by 5.7% in the third quarter. Mill Creek Capital Advisors LLC now owns 1,002 shares of the financial services provider’s stock valued at $283,000 after acquiring an additional 54 shares in the last quarter. Lansing Street Advisors increased its holdings in shares of Chubb by 7.0% during the third quarter. Lansing Street Advisors now owns 4,440 shares of the financial services provider’s stock worth $1,257,000 after purchasing an additional 290 shares during the period. DNB Asset Management AS grew its position in Chubb by 1.2% during the third quarter. DNB Asset Management AS now owns 633,865 shares of the financial services provider’s stock worth $178,908,000 after buying an additional 7,681 shares in the last quarter. Finally, Hohimer Wealth Management LLC increased its position in shares of Chubb by 31.7% in the third quarter. Hohimer Wealth Management LLC now owns 2,430 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 585 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Performance

Shares of CB stock opened at $340.29 on Friday. The company has a current ratio of 0.24, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $342.69. The stock has a market capitalization of $133.92 billion, a P/E ratio of 13.23, a PEG ratio of 2.17 and a beta of 0.49. The firm’s 50 day moving average is $315.97 and its 200 day moving average is $295.71.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, beating the consensus estimate of $6.33 by $1.19. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. Chubb’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.02 earnings per share. On average, sell-side analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, March 13th. Chubb’s payout ratio is 15.08%.

Insider Buying and Selling at Chubb

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares in the company, valued at $3,920,683.80. This trade represents a 70.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Evan G. Greenberg sold 15,060 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the sale, the chief executive officer directly owned 511,576 shares in the company, valued at $169,572,096.72. The trade was a 2.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CB. Weiss Ratings reiterated a “buy (b+)” rating on shares of Chubb in a research note on Monday, December 29th. Raymond James Financial boosted their price objective on shares of Chubb from $340.00 to $380.00 and gave the stock a “strong-buy” rating in a research note on Monday, February 9th. Wells Fargo & Company increased their target price on shares of Chubb from $305.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Piper Sandler lifted their price objective on Chubb from $283.00 to $319.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Finally, Barclays boosted their target price on shares of Chubb from $317.00 to $339.00 and gave the company an “equal weight” rating in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $340.81.

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.