Varma Mutual Pension Insurance Co Purchases 5,200 Shares of Chubb Limited $CB

Varma Mutual Pension Insurance Co boosted its position in shares of Chubb Limited (NYSE:CB) by 8.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,021 shares of the financial services provider’s stock after purchasing an additional 5,200 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Chubb were worth $18,070,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CB. Westbourne Investment Advisors Inc. lifted its position in Chubb by 12.3% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 22,233 shares of the financial services provider’s stock valued at $6,275,000 after acquiring an additional 2,427 shares in the last quarter. Assetmark Inc. raised its stake in shares of Chubb by 14.1% in the 2nd quarter. Assetmark Inc. now owns 71,294 shares of the financial services provider’s stock valued at $20,655,000 after purchasing an additional 8,828 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Chubb by 166.3% in the 3rd quarter. Sivia Capital Partners LLC now owns 3,707 shares of the financial services provider’s stock valued at $1,046,000 after purchasing an additional 2,315 shares during the period. Liberty One Investment Management LLC bought a new stake in shares of Chubb in the third quarter valued at about $51,167,000. Finally, Cooke & Bieler LP boosted its position in shares of Chubb by 21.3% during the third quarter. Cooke & Bieler LP now owns 606,011 shares of the financial services provider’s stock worth $171,047,000 after buying an additional 106,237 shares during the period. 83.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Mizuho boosted their target price on Chubb from $317.00 to $336.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Weiss Ratings reissued a “buy (b+)” rating on shares of Chubb in a research report on Monday, December 29th. Evercore raised their target price on shares of Chubb from $346.00 to $347.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Piper Sandler lifted their price target on shares of Chubb from $283.00 to $319.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Finally, Morgan Stanley set a $350.00 price objective on shares of Chubb in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Chubb currently has an average rating of “Hold” and an average price target of $340.09.

Insider Buying and Selling

In related news, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the sale, the chief executive officer directly owned 511,576 shares of the company’s stock, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president directly owned 11,810 shares in the company, valued at approximately $3,920,683.80. This represents a 70.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 54,307 shares of company stock worth $17,611,016. 0.77% of the stock is owned by corporate insiders.

Chubb Price Performance

NYSE:CB opened at $332.42 on Friday. The company has a market cap of $130.82 billion, a P/E ratio of 12.92, a P/E/G ratio of 2.10 and a beta of 0.49. The firm’s fifty day moving average price is $310.12 and its two-hundred day moving average price is $290.65. Chubb Limited has a one year low of $263.14 and a one year high of $335.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.24 and a quick ratio of 0.27.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, topping the consensus estimate of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $11.11 billion. During the same quarter in the previous year, the firm posted $6.02 EPS. Chubb’s revenue was up 8.9% compared to the same quarter last year. Equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. Chubb’s dividend payout ratio is presently 15.08%.

About Chubb

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.