KLP Kapitalforvaltning AS Has $44.52 Million Holdings in Chubb Limited $CB

Key Points

• KLP Kapitalforvaltning AS increased its stake in Chubb Limited by 4.2% during the second quarter, now holding $44.52 million worth of shares.
• Chubb's last earnings report showed an EPS of $6.14, exceeding estimates, with revenue reaching $14.20 billion.
• A mix of analysts have rated Chubb's stock, with two Strong Buy, six Buy, and twelve Hold ratings, reflecting a diverse outlook among investors.

KLP Kapitalforvaltning AS grew its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,102 shares of the financial services provider's stock after acquiring an additional 6,200 shares during the period. KLP Kapitalforvaltning AS's holdings in Chubb were worth $44,521,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in Chubb during the first quarter worth approximately $25,000. North Capital Inc. acquired a new stake in Chubb during the first quarter worth approximately $26,000. IMA Advisory Services Inc. acquired a new stake in Chubb during the first quarter worth approximately $31,000. 1248 Management LLC acquired a new stake in Chubb during the first quarter worth approximately $31,000. Finally, WPG Advisers LLC acquired a new stake in Chubb during the first quarter worth approximately $33,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CB. Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $324.00 to $333.00 and gave the company an "outperform" rating in a research report on Monday. Citigroup began coverage on shares of Chubb in a research report on Wednesday, August 13th. They issued a "buy" rating and a $326.00 price target for the company. Wells Fargo & Company dropped their price target on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a research report on Thursday, July 24th. Cantor Fitzgerald upgraded shares of Chubb to a "hold" rating in a research report on Wednesday, August 13th. Finally, Hsbc Global Res downgraded shares of Chubb from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $303.72.

Chubb Stock Up 0.8%

Shares of CB opened at $286.37 on Tuesday. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The company has a market cap of $114.17 billion, a P/E ratio of 12.63, a P/E/G ratio of 3.20 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a 50 day simple moving average of $275.17 and a two-hundred day simple moving average of $282.03.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the previous year, the business earned $5.38 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. Research analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb's payout ratio is currently 17.12%.

Insider Buying and Selling

In other news, Director Michael Corbat acquired 425 shares of the stock in a transaction on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.86% of the stock is currently owned by corporate insiders.

Chubb Company Profile

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.

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.