Capital World Investors Trims Position in Chubb Limited $CB

Capital World Investors lessened its stake in Chubb Limited (NYSE:CB) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,935,866 shares of the financial services provider’s stock after selling 42,921 shares during the period. Capital World Investors’ holdings in Chubb were worth $3,101,314,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc increased its stake 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 worth $8,843,710,000 after buying an additional 4,299,111 shares during the period. State Street Corp increased its stake in Chubb by 0.4% in the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after buying an additional 68,553 shares during the period. Ameriprise Financial Inc. increased its stake in Chubb by 9.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock worth $1,426,475,000 after buying an additional 427,512 shares during the period. Bank of America Corp DE increased its stake 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 worth $1,428,278,000 after buying an additional 513,852 shares during the period. Finally, Norges Bank purchased a new position in Chubb in the 4th quarter worth about $1,081,190,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Transactions at Chubb

In other news, Director Olivier Steimer sold 2,000 shares of the firm’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 sale, the director directly owned 25,468 shares in the company, valued at approximately $8,386,612.40. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CB. Raymond James Financial increased their target price on shares of Chubb from $340.00 to $380.00 and gave the stock a “strong-buy” rating in a report on Monday, February 9th. Keefe, Bruyette & Woods increased their target price on shares of Chubb from $373.00 to $374.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Citigroup increased their target price on shares of Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, February 9th. UBS Group reiterated a “neutral” rating and set a $340.00 target price on shares of Chubb in a report on Monday, February 9th. Finally, 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. Two investment 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 stock. According to data from MarketBeat, Chubb has a consensus rating of “Moderate Buy” and a consensus price target of $349.90.

Chubb Stock Up 3.9%

Shares of Chubb stock opened at $326.82 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The firm’s 50-day moving average is $324.69 and its two-hundred day moving average is $317.87. The stock has a market cap of $126.76 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.67 and a beta of 0.41.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share 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 for the quarter. As a group, research analysts expect that Chubb Limited will post 26.8 earnings per share for the current fiscal year.

Chubb Company 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.