Danske Bank A S Sells 117,631 Shares of Chubb Limited $CB

Key Points

• Danske Bank A S cut its Chubb stake by 16.6%, selling 117,631 shares in the third quarter; it retained 592,046 shares valued at about $192.6 million.
• Chubb reported quarterly EPS of $7.66, beating the $6.77 consensus, and revenue of $16.20 billion, above estimates of $15.66 billion.
• Analyst sentiment is mixed but centers on “Hold”: 13 analysts rate the stock Hold, nine Buy or Strong Buy, and one Sell; the average price target is $362.78.

Danske Bank A S trimmed its stake in Chubb Limited (NYSE:CB - Free Report) by 16.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 592,046 shares of the financial services provider's stock after selling 117,631 shares during the quarter. Danske Bank A S owned 0.15% of Chubb worth $192,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Cornerstone Advisory LLC grew its position in Chubb by 7.6% in the third quarter. Cornerstone Advisory LLC now owns 1,517 shares of the financial services provider's stock worth $493,000 after acquiring an additional 107 shares in the last quarter. Cornerstone Advisors LLC raised its holdings in shares of Chubb by 91.1% during the 3rd quarter. Cornerstone Advisors LLC now owns 38,213 shares of the financial services provider's stock valued at $12,429,000 after purchasing an additional 18,221 shares in the last quarter. Moors & Cabot Inc. lifted its stake in shares of Chubb by 3.4% in the 3rd quarter. Moors & Cabot Inc. now owns 12,543 shares of the financial services provider's stock valued at $4,080,000 after purchasing an additional 412 shares during the last quarter. Compass Capital Management Inc. acquired a new stake in shares of Chubb in the 3rd quarter valued at $2,654,000. Finally, Valmark Advisers Inc. boosted its holdings in Chubb by 1.4% in the third quarter. Valmark Advisers Inc. now owns 5,674 shares of the financial services provider's stock worth $1,845,000 after purchasing an additional 80 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CB. Deutsche Bank restated a "hold" rating and issued a $354.00 target price on shares of Chubb in a report on Wednesday, July 22nd. Citigroup reiterated a "buy" rating and set a $405.00 price target (up from $395.00) on shares of Chubb in a report on Wednesday, October 21st. HSBC reiterated a "hold" rating and set a $359.00 price target on shares of Chubb in a report on Wednesday, October 7th. JPMorgan Chase & Co. lifted their price target on shares of Chubb from $371.00 to $374.00 and gave the company a "neutral" rating in a research report on Friday, October 23rd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Chubb from $389.00 to $387.00 and set an "outperform" rating for the company in a research note on Monday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $362.78.

Insider Activity at Chubb

In other Chubb news, Director Michael P. Connors sold 5,500 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the sale, the director directly owned 12,803 shares of the company's stock, valued at approximately $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan Greenberg sold 13,889 shares of the firm's stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $360.02, for a total transaction of $5,000,317.78. Following the sale, the chief executive officer directly owned 277,274 shares of the company's stock, valued at approximately $99,824,185.48. The trade was a 4.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,985 shares of company stock valued at $11,748,463 in the last ninety days. Insiders own 0.37% of the company's stock.

Chubb Stock Performance

Shares of CB traded up $3.58 on Friday, reaching $375.34. 1,516,355 shares of the stock traded hands, compared to its average volume of 1,576,154. The firm has a market cap of $143.41 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 1.72 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 12 month low of $291.03 and a 12 month high of $384.26. The stock's 50-day moving average price is $348.93 and its 200-day moving average price is $337.20.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $7.66 earnings per share for the quarter, beating the consensus estimate of $6.77 by $0.89. The company had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.66 billion. Chubb had a return on equity of 14.41% and a net margin of 18.15%. During the same period in the prior year, the company posted $7.49 EPS. Equities analysts forecast that Chubb Limited will post 28.89 EPS for the current fiscal year.

About Chubb

Chubb Limited is a global insurance company that provides property and casualty insurance, accident and health coverage, life insurance, and reinsurance. Its customers include individuals, businesses, and institutions, with products ranging from personal and commercial coverage to specialized insurance solutions. The company serves customers across North America, Europe, Asia-Pacific, Latin America, and other markets. Its operations include underwriting, claims services, and risk management for a broad range of industries and personal insurance needs.

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