Swiss National Bank Sells 59,880 Shares of Chubb Limited $CB

Swiss National Bank cut its position in Chubb Limited (NYSE:CB) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,037,511 shares of the financial services provider’s stock after selling 59,880 shares during the quarter. Swiss National Bank’s holdings in Chubb were worth $323,828,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Berkshire Hathaway Inc grew its stake in shares of Chubb by 15.9% in the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock valued at $8,843,710,000 after buying an additional 4,299,111 shares in the last quarter. State Street Corp grew its stake in shares of Chubb by 0.4% in the third quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after buying an additional 68,553 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Chubb by 9.2% in the third quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider’s stock valued at $1,426,475,000 after buying an additional 427,512 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after buying an additional 513,852 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Chubb in the fourth quarter valued at $1,081,190,000. 83.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CB shares. Jefferies Financial Group decreased their target price on shares of Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. Wolfe Research lifted their price objective on shares of Chubb from $372.00 to $373.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Evercore lifted their price objective on shares of Chubb from $347.00 to $349.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Citizens Jmp lifted their price objective on shares of Chubb from $350.00 to $365.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 22nd. Finally, Barclays lifted their price objective on shares of Chubb from $374.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $349.43.

Insider Transactions at Chubb

In other news, Director Olivier Steimer sold 2,000 shares of the business’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 completion of the sale, the director owned 25,468 shares of the company’s stock, valued at approximately $8,386,612.40. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO John W. Keogh sold 23,000 shares of the business’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 directly owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company’s stock.

Chubb Trading Down 0.7%

Shares of Chubb stock opened at $328.14 on Friday. The firm has a 50-day moving average of $324.92 and a 200-day moving average of $318.88. The stock has a market cap of $127.27 billion, a PE ratio of 11.59, a PEG ratio of 1.69 and a beta of 0.41. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The company had revenue of $14.93 billion during the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. As a group, sell-side analysts forecast that Chubb Limited will post 26.8 EPS for the current year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be given a $1.02 dividend. The ex-dividend date of this dividend is Friday, June 12th. This is a boost from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio (DPR) is presently 13.70%.

Chubb 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.