DNB Asset Management AS Acquires 7,681 Shares of Chubb Limited $CB

DNB Asset Management AS increased its holdings in shares of Chubb Limited (NYSE:CB) by 1.2% during the third quarter, Holdings Channel reports. The fund owned 633,865 shares of the financial services provider’s stock after acquiring an additional 7,681 shares during the quarter. Chubb comprises about 0.7% of DNB Asset Management AS’s holdings, making the stock its 26th biggest holding. DNB Asset Management AS’s holdings in Chubb were worth $178,908,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hohimer Wealth Management LLC increased its holdings in shares of Chubb by 31.7% in the third quarter. Hohimer Wealth Management LLC now owns 2,430 shares of the financial services provider’s stock valued at $686,000 after purchasing an additional 585 shares during the last quarter. Choreo LLC boosted its holdings in shares of Chubb by 1.3% during the 3rd quarter. Choreo LLC now owns 26,262 shares of the financial services provider’s stock worth $7,438,000 after buying an additional 345 shares during the period. Advisor OS LLC grew its stake in Chubb by 117.1% in the 3rd quarter. Advisor OS LLC now owns 7,062 shares of the financial services provider’s stock valued at $1,993,000 after buying an additional 3,809 shares during the last quarter. Westpac Banking Corp raised its holdings in Chubb by 11.7% in the 3rd quarter. Westpac Banking Corp now owns 5,276 shares of the financial services provider’s stock valued at $1,489,000 after acquiring an additional 551 shares during the period. Finally, Interchange Capital Partners LLC lifted its position in Chubb by 15.9% during the third quarter. Interchange Capital Partners LLC now owns 1,815 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 249 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Up 1.0%

Shares of NYSE CB opened at $337.97 on Friday. The stock has a market capitalization of $133.01 billion, a P/E ratio of 13.14, a PEG ratio of 2.13 and a beta of 0.49. The stock’s fifty day moving average is $315.37 and its 200 day moving average is $295.05. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $338.79. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.24.

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

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 13th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, March 13th. Chubb’s dividend payout ratio (DPR) is 15.08%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Bank of America decreased their target price on Chubb from $279.00 to $259.00 and set an “underperform” rating on the stock in a research report on Friday, January 16th. Barclays upped their price objective on Chubb from $317.00 to $339.00 and gave the company an “equal weight” rating in a report on Thursday, January 8th. Evercore increased their price objective on Chubb from $346.00 to $347.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Raymond James Financial boosted their target price on shares of Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a research report on Monday, February 9th. Finally, Wolfe Research upped their price target on shares of Chubb from $364.00 to $372.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $340.81.

Insider Activity at Chubb

In other news, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total value of $4,991,938.20. Following the transaction, the chief executive officer owned 511,576 shares in the company, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the transaction, the executive vice president directly owned 11,810 shares of the company’s stock, valued at $3,920,683.80. This trade represents a 70.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is owned by 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.