Xact Kapitalforvaltning AB decreased its holdings in shares of Chubb Ltd (NYSE:CB) by 6.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,295 shares of the financial services provider’s stock after selling 5,197 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Chubb were worth $10,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its stake in Chubb by 3.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,848,022 shares of the financial services provider’s stock valued at $1,758,976,000 after acquiring an additional 488,028 shares during the last quarter. Bank of America Corp DE increased its stake in Chubb by 1.8% in the second quarter. Bank of America Corp DE now owns 10,153,074 shares of the financial services provider’s stock valued at $1,289,643,000 after acquiring an additional 175,841 shares during the last quarter. American Century Companies Inc. increased its stake in Chubb by 12.3% in the second quarter. American Century Companies Inc. now owns 4,610,946 shares of the financial services provider’s stock valued at $585,682,000 after acquiring an additional 504,768 shares during the last quarter. Bessemer Group Inc. increased its stake in Chubb by 0.6% in the second quarter. Bessemer Group Inc. now owns 1,850,787 shares of the financial services provider’s stock valued at $235,088,000 after acquiring an additional 11,604 shares during the last quarter. Finally, Swiss National Bank increased its stake in Chubb by 2.7% in the second quarter. Swiss National Bank now owns 1,742,420 shares of the financial services provider’s stock valued at $221,322,000 after acquiring an additional 45,900 shares during the last quarter. 85.56% of the stock is currently owned by hedge funds and other institutional investors.
NYSE CB traded up $0.60 during trading on Friday, hitting $128.09. 6,347 shares of the company’s stock traded hands, compared to its average volume of 1,593,341. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. Chubb Ltd has a 12-month low of $123.23 and a 12-month high of $157.50. The firm has a market cap of $58.62 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 1.25 and a beta of 1.01.
Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.06. Chubb had a net margin of 11.53% and a return on equity of 7.41%. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.30 billion. During the same period in the prior year, the business posted $2.50 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. Equities analysts expect that Chubb Ltd will post 10.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 21st were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Thursday, September 20th. This represents a $2.92 annualized dividend and a yield of 2.28%. Chubb’s payout ratio is 36.36%.
In other Chubb news, CEO Evan G. Greenberg sold 227,994 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $140.29, for a total transaction of $31,985,278.26. Following the completion of the sale, the chief executive officer now directly owns 1,583,326 shares in the company, valued at $222,124,804.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Timothy Alan Boroughs sold 14,971 shares of the company’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $139.37, for a total transaction of $2,086,508.27. Following the sale, the insider now owns 202,794 shares of the company’s stock, valued at $28,263,399.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 243,093 shares of company stock valued at $34,089,733. Company insiders own 0.44% of the company’s stock.
A number of research analysts recently commented on the company. Deutsche Bank cut Chubb from a “hold” rating to a “sell” rating and reduced their target price for the company from $135.00 to $126.00 in a research note on Monday, August 13th. Atlantic Securities raised Chubb from an “underweight” rating to a “neutral” rating in a research note on Wednesday, June 27th. Zacks Investment Research cut Chubb from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Barclays reduced their target price on Chubb from $175.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, July 9th. Finally, ValuEngine raised Chubb from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. Chubb presently has an average rating of “Hold” and an average price target of $159.45.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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