Danske Bank A S Purchases Shares of 13,271 Chubb Limited $CB

Key Points

• Danske Bank purchased 13,271 Chubb shares in the second quarter, valued at approximately $4.52 million. Institutional investors collectively own 83.81% of Chubb, with major additions from BlackRock, Norges Bank, Bank of New York Mellon, and Berkshire Hathaway.
• Analyst sentiment is mixed: Chubb has a consensus rating of “Hold” and an average price target of $361, though several firms maintain outperform or buy ratings.
• Chubb reported quarterly EPS of $7.26, beating estimates of $6.77, while revenue rose 3.6% year over year. The company declared a quarterly dividend of $1.02, equal to an annualized yield of approximately 1.2%.

Danske Bank A S purchased a new position in Chubb Limited (NYSE:CB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,271 shares of the financial services provider's stock, valued at approximately $4,522,000.

A number of other large investors have also modified their holdings of CB. BlackRock Inc. acquired a new stake in Chubb in the 2nd quarter worth approximately $9,913,336,000. Norges Bank purchased a new stake in Chubb during the 4th quarter worth approximately $1,081,190,000. Bank of New York Mellon Corp acquired a new position in Chubb during the 2nd quarter valued at approximately $1,042,549,000. Price T Rowe Associates Inc. MD increased its stake in Chubb by 25.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider's stock valued at $4,665,508,000 after purchasing an additional 3,049,987 shares in the last quarter. Finally, Berkshire Hathaway Inc increased its stake in Chubb by 9.3% during the 4th quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider's stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CB. Keefe, Bruyette & Woods upped their target price on Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Atlantic Securities set a $301.00 price target on Chubb in a research report on Wednesday, July 15th. Evercore reiterated an "outperform" rating and set a $374.00 price target on shares of Chubb in a research note on Friday, July 10th. Wells Fargo & Company cut their price objective on Chubb from $358.00 to $356.00 and set an "equal weight" rating on the stock in a report on Thursday, July 23rd. Finally, Citigroup restated a "market outperform" rating on shares of Chubb in a research note on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Chubb has a consensus rating of "Hold" and an average target price of $361.00.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 8,502 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares of the company's stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on 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 transaction, the chief operating officer directly owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by company insiders.

Chubb Price Performance

NYSE:CB opened at $341.15 on Friday. Chubb Limited has a one year low of $265.30 and a one year high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $131.62 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.66 and a beta of 0.39. The firm's fifty day moving average is $345.88 and its two-hundred day moving average is $333.31.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. The business had revenue of $11.97 billion during the quarter, compared to analysts' expectations of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.14 EPS. Research analysts expect that Chubb Limited will post 27.49 EPS for the current year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb's payout ratio is presently 14.43%.

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.

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