Chubb Limited (NYSE:CB) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lowered its stake in Chubb Limited (NYSE:CB) by 7.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,252,575 shares of the financial services provider’s stock after selling 100,179 shares during the period. Nordea Investment Management AB’s holdings in Chubb were worth $237,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in CB. Price T Rowe Associates Inc. MD grew its stake in Chubb by 17.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,821,856 shares of the financial services provider’s stock worth $5,596,629,000 after buying an additional 4,210,564 shares during the last quarter. FMR LLC grew its stake in Chubb by 21.8% during the 1st quarter. FMR LLC now owns 14,107,981 shares of the financial services provider’s stock worth $2,739,488,000 after buying an additional 2,528,499 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in Chubb by 102,751.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,289,814 shares of the financial services provider’s stock worth $1,828,733,000 after buying an additional 8,281,754 shares during the last quarter. Geode Capital Management LLC grew its stake in Chubb by 0.8% during the 1st quarter. Geode Capital Management LLC now owns 7,833,334 shares of the financial services provider’s stock worth $1,517,747,000 after buying an additional 60,630 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Chubb by 1.1% during the 4th quarter. Wells Fargo & Company MN now owns 5,786,479 shares of the financial services provider’s stock worth $1,276,497,000 after buying an additional 65,270 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Analyst Ratings Changes

CB has been the topic of a number of research reports. BMO Capital Markets raised their price target on Chubb from $200.00 to $210.00 in a research note on Thursday, July 27th. Morgan Stanley lifted their target price on Chubb from $192.00 to $209.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 1st. Piper Sandler lowered their target price on Chubb from $248.00 to $237.00 in a research note on Thursday, July 6th. Barclays lifted their target price on Chubb from $260.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $245.00 target price on shares of Chubb in a research note on Tuesday, August 29th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $242.79.

Insider Buying and Selling

In other news, CAO Annmarie T. Hagan sold 1,187 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $211.81, for a total value of $251,418.47. Following the completion of the transaction, the chief accounting officer now directly owns 13,234 shares of the company’s stock, valued at $2,803,093.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Annmarie T. Hagan sold 1,187 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $211.81, for a total value of $251,418.47. Following the completion of the transaction, the chief accounting officer now directly owns 13,234 shares of the company’s stock, valued at $2,803,093.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John J. Lupica sold 8,398 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $211.74, for a total value of $1,778,192.52. Following the completion of the transaction, the insider now directly owns 154,049 shares of the company’s stock, valued at $32,618,335.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,534 shares of company stock valued at $4,645,275. 0.37% of the stock is owned by insiders.

Chubb Price Performance

Shares of Chubb stock traded down $0.54 during trading on Friday, reaching $211.44. The company’s stock had a trading volume of 404,795 shares, compared to its average volume of 1,777,564. The business has a 50 day moving average price of $200.15 and a 200-day moving average price of $197.43. The company has a market capitalization of $86.84 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.15 and a beta of 0.65. Chubb Limited has a 12-month low of $173.78 and a 12-month high of $231.37. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.26.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $4.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.41 by $0.51. The firm had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $11.24 billion. Chubb had a return on equity of 13.56% and a net margin of 12.47%. Chubb’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.20 earnings per share. As a group, sell-side analysts anticipate that Chubb Limited will post 18.18 EPS for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be issued a dividend of $0.86 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.44 annualized dividend and a yield of 1.63%. Chubb’s dividend payout ratio is presently 24.71%.

Chubb declared that its board has approved a stock buyback plan on Monday, June 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management 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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses.