4,233,515 Shares in Chubb Limited (NYSE:CB) Acquired by Norges Bank

Norges Bank acquired a new stake in shares of Chubb Limited (NYSE:CB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,233,515 shares of the financial services provider's stock, valued at approximately $1,169,720,000. Norges Bank owned 1.05% of Chubb at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in Chubb by 146.7% during the third quarter. Larson Financial Group LLC now owns 565 shares of the financial services provider's stock valued at $163,000 after acquiring an additional 336 shares during the period. Truvestments Capital LLC bought a new stake in Chubb during the 3rd quarter valued at approximately $30,000. Townsquare Capital LLC lifted its holdings in Chubb by 37.1% in the 3rd quarter. Townsquare Capital LLC now owns 9,274 shares of the financial services provider's stock worth $2,675,000 after purchasing an additional 2,511 shares in the last quarter. CreativeOne Wealth LLC bought a new position in Chubb in the 3rd quarter worth approximately $266,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Chubb by 1.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,931 shares of the financial services provider's stock valued at $49,583,000 after buying an additional 2,567 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Trading Up 0.4 %

CB stock traded up $1.25 during mid-day trading on Tuesday, reaching $303.24. 453,069 shares of the stock traded hands, compared to its average volume of 1,787,259. Chubb Limited has a one year low of $238.85 and a one year high of $304.34. The stock has a market capitalization of $121.42 billion, a PE ratio of 13.35, a PEG ratio of 3.36 and a beta of 0.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.25. The business has a 50-day moving average price of $279.92 and a two-hundred day moving average price of $281.51.

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Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Equities research analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, March 14th. Chubb's payout ratio is currently 16.02%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research report on Tuesday. Hsbc Global Res raised shares of Chubb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $320.00 target price on shares of Chubb in a report on Thursday, January 30th. Barclays dropped their price target on Chubb from $349.00 to $324.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $325.00 price objective on shares of Chubb in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $303.14.

Insider Buying and Selling at Chubb

In other news, EVP Joseph F. Wayland sold 10,000 shares of Chubb stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the sale, the executive vice president now owns 77,703 shares of the company's stock, valued at approximately $22,297,652.88. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO George F. Ohsiek sold 763 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $290.41, for a total value of $221,582.83. Following the completion of the transaction, the chief accounting officer now directly owns 20,044 shares in the company, valued at approximately $5,820,978.04. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,470 shares of company stock valued at $18,562,730 in the last quarter. 0.86% of the stock is owned by 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.