Chubb Limited (NYSE:CB) Shares Sold by Norway Savings Bank

Norway Savings Bank trimmed its position in shares of Chubb Limited (NYSE:CB) by 3.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,243 shares of the financial services provider’s stock after selling 50 shares during the period. Norway Savings Bank’s holdings in Chubb were worth $375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Chubb by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider’s stock worth $10,072,097,000 after acquiring an additional 271,648 shares in the last quarter. FMR LLC increased its holdings in Chubb by 0.6% in the 4th quarter. FMR LLC now owns 15,668,377 shares of the financial services provider’s stock valued at $4,329,173,000 after purchasing an additional 91,892 shares in the last quarter. Capital World Investors increased its holdings in Chubb by 1.9% in the 4th quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider’s stock valued at $3,172,194,000 after purchasing an additional 212,889 shares in the last quarter. Capital Research Global Investors increased its holdings in Chubb by 1.5% in the 4th quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider’s stock valued at $2,457,402,000 after purchasing an additional 131,075 shares in the last quarter. Finally, Demars Financial Group LLC increased its holdings in Chubb by 16.4% in the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock valued at $1,884,004,000 after purchasing an additional 878,177 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chubb

In other Chubb news, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total value of $24,694,489.92. Following the completion of the transaction, the chief operating officer now owns 237,728 shares of the company’s stock, valued at $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.77% of the company’s stock.

Chubb Price Performance

Shares of CB stock opened at $283.61 on Friday. The firm has a market cap of $113.65 billion, a P/E ratio of 13.65, a P/E/G ratio of 3.14 and a beta of 0.54. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $251.42 and a 1-year high of $306.91. The firm has a fifty day moving average of $287.89 and a two-hundred day moving average of $281.59.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. The business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. As a group, research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb declared that its board has approved a stock buyback plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a $0.97 dividend. This is a positive change from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.37%. Chubb’s dividend payout ratio (DPR) is presently 18.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CB shares. Jefferies Financial Group increased their target price on Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research note on Friday, April 11th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Chubb in a research report on Thursday, April 24th. UBS Group increased their price objective on shares of Chubb from $303.00 to $304.00 and gave the company a “neutral” rating in a research report on Monday, April 28th. Keefe, Bruyette & Woods lowered their price target on shares of Chubb from $316.00 to $314.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Finally, HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target for the company in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.53.

About Chubb

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.