Norges Bank Purchases New Position in Chubb Limited $CB

Key Points

• Norges Bank opened a new position in Chubb, buying 3,464,021 shares valued at about $1.08 billion, which represented roughly 0.88% of the company.
• Chubb continues to attract heavy institutional interest, with 83.81% of the stock held by institutional investors, even as some insiders have recently sold shares.
• Analysts remain mixed but generally positive on the insurer: Chubb carries an average “Moderate Buy” rating and a consensus price target of $349.90.

Norges Bank purchased a new stake in shares of Chubb Limited (NYSE:CB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,464,021 shares of the financial services provider's stock, valued at approximately $1,081,190,000. Norges Bank owned about 0.88% of Chubb as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Spire Wealth Management increased its position in Chubb by 490.5% in the 4th quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider's stock valued at $2,689,000 after acquiring an additional 7,156 shares in the last quarter. Chesley Taft & Associates LLC increased its position in Chubb by 7.4% in the 4th quarter. Chesley Taft & Associates LLC now owns 102,427 shares of the financial services provider's stock valued at $31,970,000 after acquiring an additional 7,043 shares in the last quarter. Pallas Capital Advisors LLC increased its position in Chubb by 42.3% in the 4th quarter. Pallas Capital Advisors LLC now owns 14,243 shares of the financial services provider's stock valued at $4,446,000 after acquiring an additional 4,233 shares in the last quarter. waypoint wealth counsel increased its position in Chubb by 76.4% in the 4th quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider's stock valued at $1,285,000 after acquiring an additional 1,784 shares in the last quarter. Finally, Caprock Group LLC acquired a new position in shares of Chubb during the third quarter valued at $3,123,000. 83.81% of the stock is owned by institutional investors.

Chubb Price Performance

Shares of CB opened at $311.54 on Friday. The company has a market cap of $120.84 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.59 and a beta of 0.43. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $345.67. The company's fifty day simple moving average is $325.57 and its 200 day simple moving average is $317.11. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20.

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

Insider Buying and Selling at Chubb

In other Chubb news, 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 value of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Olivier Steimer sold 2,000 shares of the company's 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 transaction, the director owned 25,468 shares in the company, valued at approximately $8,386,612.40. This represents a 7.28% 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 insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CB. Bank of America cut their price target on Chubb from $286.00 to $271.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods lifted their price objective on shares of Chubb from $373.00 to $374.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. UBS Group reaffirmed a "neutral" rating and issued a $340.00 price target on shares of Chubb in a research note on Monday, February 9th. Raymond James Financial boosted their price objective on shares of Chubb from $340.00 to $380.00 and gave the stock a "strong-buy" rating in a research report on Monday, February 9th. Finally, BMO Capital Markets boosted their price objective on shares of Chubb from $326.00 to $339.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $349.90.

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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