KLP Kapitalforvaltning AS Purchases Shares of 151,302 Chubb Limited (NYSE:CB)

KLP Kapitalforvaltning AS purchased a new stake in shares of Chubb Limited (NYSE:CB) in the fourth quarter, Holdings Channel reports. The firm purchased 151,302 shares of the financial services provider’s stock, valued at approximately $42,017,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in shares of Chubb in the 3rd quarter worth $127,000. Citizens Financial Group Inc. RI boosted its holdings in shares of Chubb by 38.8% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,105 shares of the financial services provider’s stock worth $3,790,000 after buying an additional 3,661 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Chubb by 2.3% in the 3rd quarter. King Luther Capital Management Corp now owns 7,139 shares of the financial services provider’s stock worth $2,059,000 after buying an additional 160 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Chubb by 24.3% in the 3rd quarter. Intech Investment Management LLC now owns 16,178 shares of the financial services provider’s stock worth $4,666,000 after buying an additional 3,160 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Chubb by 5.4% in the 3rd quarter. LPL Financial LLC now owns 348,679 shares of the financial services provider’s stock worth $100,556,000 after buying an additional 17,934 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target on the stock in a report on Wednesday, March 5th. Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 price objective on shares of Chubb in a report on Wednesday, January 29th. Wells Fargo & Company dropped their price objective on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Barclays dropped their price objective on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $301.00.

Insider Buying and Selling at Chubb

In other Chubb news, EVP Joseph F. Wayland sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the transaction, the executive vice president now directly owns 77,703 shares in the company, valued at $22,297,652.88. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,748 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the sale, the executive vice president now directly owns 29,194 shares of the company’s stock, valued at approximately $8,644,927.28. This trade represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,470 shares of company stock worth $18,562,730 over the last ninety days. Insiders own 0.86% of the company’s stock.

Chubb Stock Down 1.0 %

CB stock opened at $291.08 on Friday. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $276.57 and its 200 day moving average is $281.30. The stock has a market cap of $116.55 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. Chubb Limited has a 1-year low of $238.85 and a 1-year high of $302.05.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, topping 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 predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders 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 yield of 1.25%. The ex-dividend date of this dividend is Friday, March 14th. Chubb’s payout ratio is currently 16.02%.

About Chubb

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.