DnB Asset Management AS Sells 66,533 Shares of Chubb Limited (NYSE:CB)

DnB Asset Management AS lessened its position in shares of Chubb Limited (NYSE:CB) by 11.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 495,001 shares of the financial services provider’s stock after selling 66,533 shares during the period. Chubb comprises approximately 0.6% of DnB Asset Management AS’s portfolio, making the stock its 26th biggest holding. DnB Asset Management AS’s holdings in Chubb were worth $136,769,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC increased its stake in shares of Chubb by 146.7% in the third quarter. Larson Financial Group LLC now owns 565 shares of the financial services provider’s stock valued at $163,000 after buying an additional 336 shares during the period. Truvestments Capital LLC bought a new position in shares of Chubb during the third quarter worth about $30,000. Townsquare Capital LLC lifted its stake in shares of Chubb by 37.1% in the third quarter. Townsquare Capital LLC now owns 9,274 shares of the financial services provider’s stock worth $2,675,000 after acquiring an additional 2,511 shares during the period. CreativeOne Wealth LLC bought a new stake in Chubb in the third quarter valued at approximately $266,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Chubb by 1.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,931 shares of the financial services provider’s stock valued at $49,583,000 after purchasing an additional 2,567 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Up 1.1 %

CB stock opened at $298.71 on Friday. The stock’s 50 day moving average is $278.72 and its 200-day moving average is $281.47. Chubb Limited has a twelve month low of $238.85 and a twelve month high of $302.05. The firm has a market capitalization of $119.61 billion, a PE ratio of 13.15, a P/E/G ratio of 3.36 and a beta of 0.66. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Sell-side analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Friday, March 14th. Chubb’s dividend payout ratio is currently 16.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price objective on Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their target price on Chubb from $328.00 to $329.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company dropped their target price on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $301.00.

Insider Transactions at Chubb

In related news, CEO Evan G. Greenberg sold 25,728 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $291.45, for a total value of $7,498,425.60. Following the completion of the transaction, the chief executive officer now directly owns 584,395 shares of the company’s stock, valued at approximately $170,321,922.75. This trade represents a 4.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO George F. Ohsiek sold 763 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $290.41, for a total transaction of $221,582.83. Following the sale, the chief accounting officer now directly owns 20,044 shares in the company, valued at $5,820,978.04. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,470 shares of company stock worth $18,562,730 in the last quarter. Insiders own 0.86% of the company’s stock.

Chubb Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.