KLP Kapitalforvaltning AS Cuts Holdings in Chubb Limited $CB

KLP Kapitalforvaltning AS reduced its holdings in Chubb Limited (NYSE:CB) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,102 shares of the financial services provider’s stock after selling 8,000 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Chubb were worth $41,115,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Harbor Capital Advisors Inc. lifted its holdings in Chubb by 93.6% in the third quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 44 shares during the period. VSM Wealth Advisory LLC purchased a new position in shares of Chubb in the 2nd quarter valued at about $32,000. Heartwood Wealth Advisors LLC purchased a new position in shares of Chubb in the 3rd quarter valued at about $34,000. Maseco LLP acquired a new stake in shares of Chubb in the second quarter valued at about $35,000. Finally, Financial Consulate Inc. purchased a new stake in Chubb during the third quarter worth about $37,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CB shares. Morgan Stanley set a $310.00 target price on shares of Chubb in a report on Tuesday, December 16th. Mizuho assumed coverage on Chubb in a research note on Monday, December 15th. They set a “neutral” rating and a $318.00 price target on the stock. Jefferies Financial Group raised their price objective on Chubb from $302.00 to $326.00 and gave the company a “hold” rating in a research note on Tuesday, December 16th. Evercore ISI lifted their price objective on Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $312.90.

Insider Transactions at Chubb

In other Chubb news, insider John J. Lupica sold 16,375 shares of Chubb stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $296.45, for a total value of $4,854,368.75. Following the completion of the sale, the insider directly owned 74,225 shares of the company’s stock, valued at approximately $22,004,001.25. The trade was a 18.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Alan Boroughs sold 850 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $295.19, for a total value of $250,911.50. Following the completion of the transaction, the executive vice president owned 1,585 shares of the company’s stock, valued at $467,876.15. This trade represents a 34.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,333 shares of company stock worth $16,629,873 over the last ninety days. 0.86% of the stock is currently owned by corporate insiders.

Chubb Stock Performance

Chubb stock opened at $309.43 on Wednesday. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $316.94. The company has a market capitalization of $121.78 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 3.30 and a beta of 0.51. The stock has a fifty day moving average of $299.51 and a two-hundred day moving average of $284.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 EPS for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. The business had revenue of $16.15 billion for the quarter, compared to analyst estimates of $12.95 billion. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $5.72 earnings per share. On average, analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, December 12th. Chubb’s dividend payout ratio (DPR) is currently 16.19%.

Chubb Company 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.