Norges Bank Acquires New Shares in Chubb Limited (NYSE:CB)

Norges Bank bought a new position in Chubb Limited (NYSE:CB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,233,515 shares of the financial services provider’s stock, valued at approximately $1,169,720,000. Norges Bank owned about 1.05% of Chubb at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Chubb by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider’s stock valued at $10,072,097,000 after buying an additional 271,648 shares during the period. GQG Partners LLC increased its stake in Chubb by 36.3% in the fourth quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock valued at $1,223,932,000 after acquiring an additional 1,178,628 shares during the period. Raymond James Financial Inc. acquired a new position in Chubb in the fourth quarter worth about $1,158,897,000. Charles Schwab Investment Management Inc. raised its position in Chubb by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,235,155 shares of the financial services provider’s stock worth $617,573,000 after purchasing an additional 46,068 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Chubb by 28.1% during the third quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock valued at $511,226,000 after purchasing an additional 388,746 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Barclays cut their target price on Chubb from $349.00 to $324.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of Chubb in a report on Thursday, January 30th. Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $301.00.

Chubb Stock Up 1.1 %

NYSE CB opened at $298.71 on Friday. The stock has a market capitalization of $119.61 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. Chubb Limited has a 52 week low of $238.85 and a 52 week high of $302.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The stock has a fifty day moving average of $278.72 and a 200-day moving average of $281.47.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. On average, equities research analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a $0.91 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.64 annualized dividend and a yield of 1.22%. Chubb’s dividend payout ratio is currently 16.02%.

Insider Buying and Selling at Chubb

In other news, CAO George F. Ohsiek sold 763 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $290.41, for a total value of $221,582.83. Following the transaction, the chief accounting officer now directly owns 20,044 shares in the company, valued at $5,820,978.04. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph F. Wayland sold 12,231 shares of Chubb stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total value of $3,605,943.42. Following the sale, the executive vice president now directly owns 78,422 shares of the company’s stock, valued at approximately $23,120,374.04. This trade represents a 13.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is currently owned by insiders.

Chubb Company 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.