Korea Investment CORP Sells 4,968 Shares of Chubb Limited $CB

Key Points

• Korea Investment CORP trimmed its Chubb stake by 1.5% in the fourth quarter, selling 4,968 shares and ending with 327,792 shares valued at about $102.3 million.
• Institutional ownership remains very high, with 83.81% of Chubb shares held by hedge funds and other large investors; Berkshire Hathaway is the largest notable holder mentioned.
• Chubb recently raised its quarterly dividend to $1.02 per share, while analysts currently rate the stock Moderate Buy with an average price target of $349.10.

Korea Investment CORP reduced its holdings in Chubb Limited (NYSE:CB - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 327,792 shares of the financial services provider's stock after selling 4,968 shares during the period. Korea Investment CORP owned approximately 0.08% of Chubb worth $102,310,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Berkshire Hathaway Inc raised its stake in Chubb by 15.9% during the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock worth $8,843,710,000 after acquiring an additional 4,299,111 shares in the last quarter. Norges Bank acquired a new stake in shares of Chubb in the 4th quarter valued at $1,081,190,000. AQR Capital Management LLC grew its holdings in shares of Chubb by 75.1% in the 3rd quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider's stock worth $785,468,000 after purchasing an additional 1,199,963 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Chubb during the 3rd quarter worth about $220,217,000. Finally, Amundi increased its position in shares of Chubb by 55.4% during the 3rd quarter. Amundi now owns 1,946,622 shares of the financial services provider's stock worth $557,493,000 after purchasing an additional 693,740 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CB has been the topic of a number of recent analyst reports. Citizens Jmp boosted their price target on shares of Chubb from $350.00 to $365.00 and gave the company a "market outperform" rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their target price on shares of Chubb from $330.00 to $340.00 and gave the company a "neutral" rating in a research note on Monday, April 20th. Bank of America reduced their target price on Chubb from $286.00 to $271.00 and set an "underperform" rating on the stock in a report on Tuesday, April 14th. BMO Capital Markets increased their price target on Chubb from $326.00 to $339.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $315.00 price target on shares of Chubb in a report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $349.10.

Chubb Stock Up 0.0%

NYSE CB opened at $328.06 on Friday. The stock has a market capitalization of $127.24 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 1.67 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. The stock has a fifty day moving average of $324.93 and a 200-day moving average of $318.94.

Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The business had revenue of $14.93 billion for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. On average, equities research analysts forecast that Chubb Limited will post 26.8 EPS for the current year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, June 12th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. This is a positive change from Chubb's previous quarterly dividend of $0.97. Chubb's dividend payout ratio is presently 13.70%.

Insider Activity at Chubb

In other Chubb news, Director Olivier Steimer sold 2,000 shares of Chubb stock in a transaction on 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the company's stock in a transaction 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 sale, the chief operating officer owned 203,322 shares of the company's stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company's stock.

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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