Chubb Limited (NYSE:CB) Stock Position Lifted by AMF Tjanstepension AB

AMF Tjanstepension AB grew its holdings in Chubb Limited (NYSE:CB) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,242 shares of the financial services provider’s stock after acquiring an additional 990 shares during the period. AMF Tjanstepension AB’s holdings in Chubb were worth $11,753,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in Chubb by 0.8% in the third quarter. Wellington Management Group LLP now owns 18,522,413 shares of the financial services provider’s stock worth $3,855,996,000 after acquiring an additional 138,142 shares in the last quarter. Capital World Investors grew its position in Chubb by 0.4% in the fourth quarter. Capital World Investors now owns 10,311,415 shares of the financial services provider’s stock worth $2,330,272,000 after acquiring an additional 43,845 shares in the last quarter. Norges Bank bought a new stake in Chubb in the fourth quarter worth approximately $957,756,000. Raymond James & Associates boosted its holdings in shares of Chubb by 2.6% during the 4th quarter. Raymond James & Associates now owns 3,103,101 shares of the financial services provider’s stock worth $701,301,000 after buying an additional 77,453 shares during the period. Finally, Ontario Teachers Pension Plan Board boosted its holdings in shares of Chubb by 0.9% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 2,698,582 shares of the financial services provider’s stock worth $609,880,000 after buying an additional 24,323 shares during the period. 83.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on CB. The Goldman Sachs Group upped their price objective on shares of Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $285.00 price objective on shares of Chubb in a report on Friday. Evercore ISI upped their price objective on shares of Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Piper Sandler reaffirmed an “overweight” rating and set a $282.00 price objective on shares of Chubb in a report on Monday, April 1st. Finally, HSBC reiterated a “hold” rating and set a $270.00 target price (down from $275.00) on shares of Chubb in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Chubb currently has an average rating of “Hold” and a consensus target price of $266.70.

Chubb Trading Down 2.7 %

Shares of Chubb stock opened at $255.07 on Friday. The stock has a market capitalization of $103.57 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 6.24 and a beta of 0.66. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $259.30 and a 200 day simple moving average of $248.48. Chubb Limited has a 12-month low of $183.71 and a 12-month high of $275.41.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.29 by $0.12. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $4.41 EPS. Research analysts expect that Chubb Limited will post 21.15 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.91 per share. The ex-dividend date is Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a yield of 1.43%. This is a positive change from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio is currently 16.16%.

Insiders Place Their Bets

In other Chubb news, Director Michael G. Atieh sold 716 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $269.70, for a total transaction of $193,105.20. Following the sale, the director now owns 39,295 shares of the company’s stock, valued at approximately $10,597,861.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Chubb news, Director Michael G. Atieh sold 716 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $269.70, for a total transaction of $193,105.20. Following the sale, the director now owns 39,295 shares of the company’s stock, valued at approximately $10,597,861.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the transaction, the executive vice president now directly owns 45,853 shares in the company, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. Insiders have sold a total of 47,552 shares of company stock valued at $12,149,985 in the last 90 days. 0.86% of the stock is currently owned by 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.