DNB Asset Management AS Sells 114,153 Shares of Chubb Limited $CB

Key Points

• DNB Asset Management AS cut its Chubb stake by 18% in Q4, selling 114,153 shares and leaving it with 519,712 shares worth about $162.2 million.
• Chubb reported strong recent operating results, including EPS of $6.82 and revenue of $14.93 billion for the quarter, while analysts expect full-year earnings of $26.78 per share.
• The company continues to return cash to shareholders, paying a quarterly dividend of $0.97 per share for a 1.2% annualized yield, and Wall Street remains broadly positive with a consensus Moderate Buy rating.

DNB Asset Management AS reduced its stake in Chubb Limited (NYSE:CB - Free Report) by 18.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 519,712 shares of the financial services provider's stock after selling 114,153 shares during the period. DNB Asset Management AS owned approximately 0.13% of Chubb worth $162,213,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Lockheed Martin Investment Management Co. grew its stake in shares of Chubb by 162.3% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 22,820 shares of the financial services provider's stock worth $7,123,000 after buying an additional 14,120 shares in the last quarter. Convergence Investment Partners LLC grew its stake in shares of Chubb by 32.5% in the 4th quarter. Convergence Investment Partners LLC now owns 5,967 shares of the financial services provider's stock worth $1,863,000 after buying an additional 1,465 shares in the last quarter. Blue Water Asset Management purchased a new position in shares of Chubb in the 4th quarter worth $616,000. Phoenix Financial Ltd. purchased a new position in shares of Chubb in the 4th quarter worth $214,000. Finally, Donoghue Forlines LLC purchased a new position in shares of Chubb in the 4th quarter worth $2,412,000. 83.81% of the stock is currently owned by institutional investors.

Insider Activity at Chubb

In related news, Director Olivier Steimer sold 2,000 shares of Chubb stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the completion of the transaction, the director directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.37% of the company's stock.

Chubb Price Performance

CB stock opened at $324.20 on Friday. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $326.19 and a 200 day moving average price of $314.01. The stock has a market cap of $125.74 billion, a PE ratio of 11.45, a P/E/G ratio of 1.64 and a beta of 0.43.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The firm had revenue of $14.93 billion during the quarter. Equities research analysts anticipate that Chubb Limited will post 26.78 earnings per share for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Friday, March 13th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb's payout ratio is currently 13.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of Chubb from $335.00 to $385.00 and gave the stock a "buy" rating in a research note on Monday, February 9th. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $330.00 to $340.00 and gave the stock a "neutral" rating in a research note on Monday, April 20th. Raymond James Financial lifted their price objective on shares of Chubb from $340.00 to $380.00 and gave the stock a "strong-buy" rating in a research note on Monday, February 9th. Weiss Ratings raised shares of Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, April 27th. Finally, BMO Capital Markets lifted their price objective on shares of Chubb from $326.00 to $339.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $349.33.

About Chubb

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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