DNB Asset Management AS Lowers Stock Holdings in Chubb Limited $CB

DNB Asset Management AS trimmed its stake in Chubb Limited (NYSE:CB) by 18.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 519,712 shares of the financial services provider’s stock after selling 114,153 shares during the period. DNB Asset Management AS’s holdings in Chubb were worth $162,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in CB. Berkshire Hathaway Inc boosted its position in Chubb by 15.9% in the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after buying an additional 4,299,111 shares during the period. AQR Capital Management LLC boosted its position in Chubb by 75.1% in the 3rd quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock valued at $785,468,000 after buying an additional 1,199,963 shares during the period. Woodline Partners LP purchased a new stake in Chubb in the 3rd quarter valued at about $220,217,000. Amundi boosted its position in Chubb by 55.4% in the 3rd quarter. Amundi now owns 1,946,622 shares of the financial services provider’s stock valued at $557,493,000 after buying an additional 693,740 shares during the period. Finally, Bank of America Corp DE boosted its position in Chubb by 11.6% in the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after buying an additional 513,852 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Trading Up 1.3%

NYSE:CB opened at $324.20 on Friday. Chubb Limited has a one year low of $264.10 and a one year high of $345.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $125.74 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.64 and a beta of 0.43. The firm has a 50-day simple moving average of $326.19 and a 200-day simple moving average of $314.01.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The business had revenue of $14.93 billion during the quarter. Equities analysts anticipate that Chubb Limited will post 26.78 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Friday, March 13th were issued a $0.97 dividend. The ex-dividend date was Friday, March 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. Chubb’s payout ratio is currently 13.70%.

Analysts Set New Price Targets

Several research firms have issued reports on CB. Piper Sandler boosted their price objective on shares of Chubb from $319.00 to $328.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Wolfe Research boosted their price objective on shares of Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Citigroup boosted their price objective on shares of Chubb from $335.00 to $385.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Morgan Stanley set a $350.00 price objective on shares of Chubb in a research report on Friday, January 16th. Finally, Roth Mkm boosted their price objective on shares of Chubb from $330.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $349.33.

Insider Activity at Chubb

In other news, Director Olivier Steimer sold 2,000 shares of the business’s stock in a transaction dated 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 sale, the director owned 25,468 shares in the company, valued at approximately $8,386,612.40. The trade was a 7.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

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.