Nordea Investment Management AB Sells 28,856 Shares of Chubb Limited $CB

Nordea Investment Management AB lowered its holdings in Chubb Limited (NYSE:CB) by 12.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 204,972 shares of the financial services provider’s stock after selling 28,856 shares during the quarter. Nordea Investment Management AB owned approximately 0.05% of Chubb worth $58,683,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CB. GQG Partners LLC boosted its position in Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock valued at $2,836,899,000 after acquiring an additional 4,964,298 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Chubb by 6.9% during the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock valued at $1,418,398,000 after purchasing an additional 304,751 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Chubb by 1.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider’s stock valued at $840,756,000 after purchasing an additional 30,334 shares in the last quarter. Nuveen LLC purchased a new position in Chubb in the first quarter valued at about $562,221,000. Finally, AQR Capital Management LLC raised its holdings in Chubb by 19.6% in the first quarter. AQR Capital Management LLC now owns 1,410,449 shares of the financial services provider’s stock worth $423,826,000 after purchasing an additional 231,404 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Chubb Trading Down 0.0%

NYSE:CB opened at $268.15 on Friday. The company has a market capitalization of $106.91 billion, a P/E ratio of 11.83, a PEG ratio of 3.02 and a beta of 0.54. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The firm has a fifty day simple moving average of $277.40 and a 200-day simple moving average of $281.09.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the prior year, the firm earned $5.38 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. Chubb’s payout ratio is 17.12%.

Insider Buying and Selling

In other Chubb news, Director Michael Corbat purchased 425 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the acquisition, the director owned 2,450 shares in the company, valued at $661,010. This represents a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wolfe Research upgraded shares of Chubb to a “strong-buy” rating in a report on Tuesday, September 16th. Weiss Ratings restated a “buy (b)” rating on shares of Chubb in a research note on Wednesday, October 8th. Hsbc Global Res downgraded Chubb from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods increased their price objective on Chubb from $324.00 to $333.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. boosted their target price on Chubb from $321.00 to $327.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus price target of $305.28.

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.