KLP Kapitalforvaltning AS Makes New Investment in Chubb Limited (NYSE:CB)

KLP Kapitalforvaltning AS bought a new stake in shares of Chubb Limited (NYSE:CB) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 151,302 shares of the financial services provider’s stock, valued at approximately $42,017,000.

Several other institutional investors and hedge funds have also modified their holdings of CB. Umpqua Bank increased its holdings in shares of Chubb by 163.8% during the 4th quarter. Umpqua Bank now owns 3,231 shares of the financial services provider’s stock worth $858,000 after purchasing an additional 2,006 shares during the period. Plancorp LLC boosted its position in Chubb by 8.9% in the fourth quarter. Plancorp LLC now owns 2,602 shares of the financial services provider’s stock valued at $719,000 after buying an additional 212 shares in the last quarter. Mizuho Securities USA LLC boosted its position in Chubb by 45.9% in the fourth quarter. Mizuho Securities USA LLC now owns 35,530 shares of the financial services provider’s stock valued at $9,817,000 after buying an additional 11,171 shares in the last quarter. Cyrus J. Lawrence LLC lifted its position in shares of Chubb by 2.3% during the fourth quarter. Cyrus J. Lawrence LLC now owns 2,053 shares of the financial services provider’s stock worth $567,000 after purchasing an additional 47 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in shares of Chubb during the fourth quarter worth approximately $99,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CB. Wells Fargo & Company cut 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. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price objective on shares of Chubb in a report on Thursday, January 30th. Barclays cut 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. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 target price on shares of Chubb in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $301.00.

Chubb Trading Down 1.0 %

Shares of Chubb stock opened at $291.08 on Friday. The firm has a market capitalization of $116.55 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 3.36 and a beta of 0.66. 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 firm’s 50 day moving average is $276.57 and its 200 day moving average is $281.30. Chubb Limited has a 1 year low of $238.85 and a 1 year high of $302.05.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (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%. Equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a dividend of $0.91 per share. The ex-dividend date is Friday, March 14th. This represents a $3.64 annualized dividend and a yield of 1.25%. Chubb’s dividend payout ratio is presently 16.02%.

Insider Buying and Selling

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

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.