Varma Mutual Pension Insurance Co Buys Shares of 68,921 Chubb Limited $CB

Varma Mutual Pension Insurance Co bought a new position in Chubb Limited (NYSE:CB) in the second quarter, HoldingsChannel reports. The institutional investor bought 68,921 shares of the financial services provider’s stock, valued at approximately $23,484,000.

Several other hedge funds have also recently modified their holdings of CB. IMG Wealth Management Inc. bought a new position in shares of Chubb during the second quarter valued at $25,000. Dunhill Financial LLC bought a new stake in Chubb in the 2nd quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its holdings in Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after buying an additional 49 shares in the last quarter. Frazier Financial Advisors LLC increased its holdings in Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock worth $27,000 after buying an additional 38 shares in the last quarter. Finally, Merkkuri Wealth Advisors LLC purchased a new position in Chubb in the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 0.5%

Chubb stock opened at $341.15 on Friday. The firm has a 50 day moving average of $345.88 and a 200 day moving average of $333.31. The firm has a market capitalization of $131.62 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.65 and a beta of 0.39. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating the consensus estimate of $6.77 by $0.49. The business had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.14 earnings per share. As a group, research analysts predict that Chubb Limited will post 27.49 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 11th. Chubb’s dividend payout ratio (DPR) is presently 14.43%.

Insiders Place Their Bets

In related news, EVP Joseph F. Wayland sold 8,502 shares of Chubb stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares in the company, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was 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 directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This represents a 10.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CB shares. The Goldman Sachs Group upped their target price on shares of Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Evercore reiterated an “outperform” rating and issued a $374.00 price target on shares of Chubb in a research note on Friday, July 10th. Piper Sandler boosted their price objective on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Citizens Jmp restated a “market outperform” rating and set a $400.00 price objective on shares of Chubb in a research report on Wednesday, July 22nd. Finally, Mizuho raised 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. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Chubb has an average rating of “Hold” and an average price target of $361.00.

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.