3,464,021 Shares in Chubb Limited $CB Purchased by Norges Bank

Norges Bank acquired a new position in shares of Chubb Limited (NYSE:CB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,464,021 shares of the financial services provider’s stock, valued at approximately $1,081,190,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Kathmere Capital Management LLC lifted its position in Chubb by 2.7% during the fourth quarter. Kathmere Capital Management LLC now owns 1,297 shares of the financial services provider’s stock worth $405,000 after purchasing an additional 34 shares during the period. Wright Investors Service Inc. lifted its position in Chubb by 0.7% during the fourth quarter. Wright Investors Service Inc. now owns 4,927 shares of the financial services provider’s stock worth $1,538,000 after purchasing an additional 34 shares during the period. G&S Capital LLC lifted its position in Chubb by 1.5% during the fourth quarter. G&S Capital LLC now owns 2,271 shares of the financial services provider’s stock worth $709,000 after purchasing an additional 34 shares during the period. Golden State Wealth Management LLC lifted its position in Chubb by 7.4% during the third quarter. Golden State Wealth Management LLC now owns 525 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 36 shares during the period. Finally, Phoenix Wealth Advisors lifted its position in Chubb by 0.4% during the fourth quarter. Phoenix Wealth Advisors now owns 8,467 shares of the financial services provider’s stock worth $2,643,000 after purchasing an additional 36 shares during the period. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of Chubb from $328.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. increased their target price on shares of Chubb from $330.00 to $340.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Wells Fargo & Company increased their target price on shares of Chubb from $321.00 to $333.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Jefferies Financial Group dropped their target price on shares of Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a report on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Chubb from $304.00 to $330.00 and gave the stock a “hold” rating in a report on Monday, March 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chubb has a consensus rating of “Moderate Buy” and a consensus price target of $349.90.

Chubb Stock Performance

Chubb stock opened at $311.54 on Friday. The business has a 50 day moving average of $325.57 and a 200-day moving average of $317.11. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market capitalization of $120.84 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.59 and a beta of 0.43.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The company had revenue of $14.93 billion during the quarter. On average, equities research analysts predict that Chubb Limited will post 26.8 earnings per share for the current year.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Olivier Steimer sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the transaction, the director directly owned 25,468 shares of the company’s stock, valued at $8,386,612.40. This represents a 7.28% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company’s stock.

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.