Nkcfo LLC Buys New Stake in Chubb Limited (NYSE:CB)

Nkcfo LLC acquired a new stake in Chubb Limited (NYSE:CB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,650 shares of the financial services provider’s stock, valued at approximately $2,462,000. Chubb comprises approximately 1.3% of Nkcfo LLC’s investment portfolio, making the stock its 17th biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Capital Research Global Investors increased its holdings in shares of Chubb by 44.4% in the first quarter. Capital Research Global Investors now owns 6,713,331 shares of the financial services provider’s stock valued at $1,739,625,000 after purchasing an additional 2,064,730 shares in the last quarter. Capital World Investors raised its position in shares of Chubb by 6.6% during the first quarter. Capital World Investors now owns 10,997,092 shares of the financial services provider’s stock worth $2,849,677,000 after acquiring an additional 685,677 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of Chubb during the first quarter valued at $165,932,000. Bank of Nova Scotia boosted its holdings in Chubb by 198.8% in the fourth quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock valued at $176,126,000 after acquiring an additional 518,535 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Chubb by 14.8% during the 1st quarter. Lazard Asset Management LLC now owns 3,543,763 shares of the financial services provider’s stock worth $918,294,000 after purchasing an additional 457,881 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Price Performance

NYSE:CB opened at $290.71 on Friday. The stock’s 50-day simple moving average is $275.87 and its 200 day simple moving average is $263.26. Chubb Limited has a 52-week low of $204.15 and a 52-week high of $294.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market cap of $118.05 billion, a P/E ratio of 12.90, a P/E/G ratio of 5.59 and a beta of 0.66.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.34. The firm had revenue of $13.36 billion for the quarter, compared to analyst estimates of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.92 earnings per share. As a group, sell-side analysts forecast that Chubb Limited will post 21.2 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Friday, September 13th. Chubb’s payout ratio is currently 16.16%.

Analyst Upgrades and Downgrades

CB has been the topic of several analyst reports. JMP Securities increased their price objective on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a report on Wednesday, July 24th. Royal Bank of Canada lifted their price objective on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Roth Mkm increased their target price on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. William Blair cut Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $274.70.

Insiders Place Their Bets

In other news, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the completion of the transaction, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider John J. Lupica sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total value of $4,282,350.00. Following the transaction, the insider now owns 103,950 shares of the company’s stock, valued at $29,676,685.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at $12,187,213.92. The disclosure for this sale can be found here. Insiders have sold a total of 86,636 shares of company stock valued at $24,874,208 over the last 90 days. 0.86% of the stock is currently owned by insiders.

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.