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

KLP Kapitalforvaltning AS grew its stake in shares of Chubb Limited (NYSE:CB) 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) 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.