Forsta AP Fonden Has $27.11 Million Position in Chubb Limited (NYSE:CB)

Forsta AP Fonden increased its stake in shares of Chubb Limited (NYSE:CB) by 5.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,000 shares of the financial services provider’s stock after buying an additional 5,100 shares during the quarter. Forsta AP Fonden’s holdings in Chubb were worth $27,109,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Capital World Investors grew its position in Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after buying an additional 685,677 shares in the last quarter. Capital Research Global Investors lifted its stake in Chubb by 44.4% during the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock worth $1,739,625,000 after purchasing an additional 2,064,730 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Chubb by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after purchasing an additional 63,891 shares during the last quarter. Legal & General Group Plc lifted its stake in Chubb by 2.9% during the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock worth $938,663,000 after purchasing an additional 104,986 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Chubb by 14.8% during the first quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after purchasing an additional 457,881 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the sale, the chief executive officer now owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the transaction, the executive vice president now owns 44,632 shares of the company’s stock, valued at $12,187,213.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,636 shares of company stock valued at $24,874,208 in the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Roth Mkm upped their target price on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JMP Securities restated a “market outperform” rating and set a $300.00 target price on shares of Chubb in a research note on Tuesday, October 15th. Wells Fargo & Company increased their price target on Chubb from $255.00 to $269.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, Bank of America increased their price target on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $282.37.

Chubb Stock Down 2.0 %

Shares of CB traded down $5.97 during trading hours on Friday, hitting $287.99. The stock had a trading volume of 1,238,295 shares, compared to its average volume of 1,608,166. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a 50 day simple moving average of $286.86 and a 200-day simple moving average of $269.08. The firm has a market capitalization of $116.94 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 5.87 and a beta of 0.66. Chubb Limited has a 1-year low of $207.46 and a 1-year high of $302.05.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.04 billion. During the same quarter last year, the firm earned $4.92 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. Sell-side analysts predict that Chubb Limited will post 21.32 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a dividend of $0.91 per share. The ex-dividend date was Friday, September 13th. This represents a $3.64 annualized dividend and a dividend yield of 1.26%. Chubb’s dividend payout ratio is currently 16.16%.

Chubb 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.