SEB Asset Management AB Acquires Shares of 519,939 Chubb Limited $CB

SEB Asset Management AB bought a new position in Chubb Limited (NYSE:CB) during the first quarter, Holdings Channel.com reports. The fund bought 519,939 shares of the financial services provider’s stock, valued at approximately $169,464,000. Chubb comprises approximately 0.7% of SEB Asset Management AB’s investment portfolio, making the stock its 24th biggest holding.

A number of other institutional investors have also modified their holdings of the stock. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the period. Frazier Financial Advisors LLC increased its holdings in Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 38 shares during the period. Merkkuri Wealth Advisors LLC bought a new stake in Chubb during the 1st quarter valued at $29,000. Laurel Wealth Advisors LLC bought a new stake in Chubb during the 4th quarter valued at $31,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Chubb in the 4th quarter worth $32,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CB. Citizens Jmp raised their price target on Chubb from $365.00 to $400.00 and gave the company a “market outperform” rating in a research note on Friday, July 10th. Mizuho increased their target price on shares of Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Wells Fargo & Company raised their target price on shares of Chubb from $333.00 to $358.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Cantor Fitzgerald boosted their price target on shares of Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, BMO Capital Markets upped their price target on shares of Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $357.73.

Chubb Trading Up 2.4%

Shares of NYSE CB opened at $352.07 on Friday. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $365.29. The business has a fifty day moving average price of $332.32 and a 200 day moving average price of $325.68. The stock has a market capitalization of $136.55 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.82 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The company had revenue of $14.93 billion for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. Equities research analysts expect that Chubb Limited will post 26.75 EPS for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, June 12th. This is an increase from Chubb’s previous quarterly dividend of $0.97. Chubb’s payout ratio is presently 14.41%.

Insider Activity at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.37% of the stock is currently owned by company insiders.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.