Swiss National Bank Has $323.83 Million Stock Holdings in Chubb Limited $CB

Key Points

• Swiss National Bank reduced its Chubb stake by 5.5% in the fourth quarter, selling 59,880 shares and leaving it with 1,037,511 shares valued at about $323.8 million.
• Chubb reported solid recent results, including $6.82 in quarterly EPS on $14.93 billion in revenue, while analysts expect 26.8 EPS for the current fiscal year.
• The insurer raised its dividend to $1.02 per share quarterly from $0.97, bringing the annualized payout to $4.08 and a yield of about 1.2%.

Swiss National Bank trimmed its position in Chubb Limited (NYSE:CB - Free Report) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,037,511 shares of the financial services provider's stock after selling 59,880 shares during the period. Swiss National Bank owned approximately 0.26% of Chubb worth $323,828,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CB. Berkshire Hathaway Inc raised its position in shares of Chubb by 15.9% in the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock valued at $8,843,710,000 after acquiring an additional 4,299,111 shares during the period. Norges Bank acquired a new stake in Chubb during the 4th quarter worth approximately $1,081,190,000. AQR Capital Management LLC raised its holdings in Chubb by 75.1% during 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 buying an additional 1,199,963 shares during the period. Woodline Partners LP acquired a new stake in Chubb during the 3rd quarter worth approximately $220,217,000. Finally, Amundi raised its holdings in 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 buying an additional 693,740 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred 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 sale, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents 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 the SEC website. Also, Director Olivier Steimer sold 2,000 shares of Chubb stock in a transaction that occurred 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 in the company, valued at $8,386,612.40. This trade 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 company insiders.

Chubb Price Performance

NYSE CB opened at $328.14 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67. The company has a market capitalization of $127.27 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.69 and a beta of 0.41. The firm's 50 day moving average is $324.92 and its 200-day moving average is $318.88.

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

Chubb Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on CB shares. Jefferies Financial Group dropped their target price on shares of Chubb from $356.00 to $352.00 and set a "hold" rating on the stock in a report on Thursday, April 23rd. JPMorgan Chase & Co. raised their target price on shares of Chubb from $330.00 to $340.00 and gave the stock a "neutral" rating in a report on Monday, April 20th. Cantor Fitzgerald restated a "neutral" rating and set a $315.00 target price on shares of Chubb in a report on Wednesday, April 22nd. Citizens Jmp raised their target price on shares of Chubb from $350.00 to $365.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 22nd. Finally, BMO Capital Markets raised their target price on shares of Chubb from $326.00 to $339.00 and gave the stock a "market perform" rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $349.43.

Chubb Company 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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.