Avanza Fonder AB Cuts Position in Chubb Limited $CB

Avanza Fonder AB reduced its position in shares of Chubb Limited (NYSE:CB) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,441 shares of the financial services provider’s stock after selling 204 shares during the period. Avanza Fonder AB’s holdings in Chubb were worth $7,371,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CB. Modern Wealth Management LLC lifted its holdings in Chubb by 6.2% in the first quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock valued at $744,000 after acquiring an additional 143 shares during the last quarter. Legato Capital Management LLC raised its stake in shares of Chubb by 120.9% in 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 acquiring an additional 5,582 shares in the last quarter. Jump Financial LLC raised its stake in Chubb by 633.6% in the first quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider’s stock valued at $2,470,000 after buying an additional 7,065 shares in the last quarter. Davis Rea LTD. acquired a new stake in Chubb in the first quarter valued at $5,117,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Chubb by 3.3% during the first quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider’s stock worth $13,070,000 after purchasing an additional 1,375 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CB. Keefe, Bruyette & Woods raised their price objective on Chubb from $314.00 to $324.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Wells Fargo & Company decreased their price target on Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 24th. HSBC downgraded Chubb from a “buy” rating to a “hold” rating and cut their price objective for the stock from $317.00 to $300.00 in a research report on Friday, August 1st. Citigroup initiated coverage on Chubb in a research report on Wednesday, August 13th. They set a “buy” rating and a $326.00 price objective for the company. Finally, Wolfe Research upgraded Chubb to a “strong-buy” rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $303.06.

Insider Activity at Chubb

In other news, insider John J. Lupica sold 5,513 shares of the company’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 value of $1,599,100.78. Following the completion of the transaction, the insider owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Corbat acquired 425 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was acquired at an average cost 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. This represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.77% of the stock is owned by corporate insiders.

Chubb Stock Performance

NYSE CB opened at $274.00 on Friday. The company’s fifty day moving average is $273.76 and its two-hundred day moving average is $282.97. The firm has a market capitalization of $109.24 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 3.09 and a beta of 0.56. Chubb Limited has a 52-week low of $252.16 and a 52-week high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 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 firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the business earned $5.38 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb’s dividend payout ratio is 17.12%.

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.