Nordea Investment Management AB Sells 49,677 Shares of Chubb Limited (NYSE:CB)

Nordea Investment Management AB reduced its holdings in Chubb Limited (NYSE:CB) by 12.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 345,673 shares of the financial services provider’s stock after selling 49,677 shares during the quarter. Nordea Investment Management AB owned about 0.09% of Chubb worth $95,285,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CB. Continuum Advisory LLC raised its holdings in Chubb by 56.5% in the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 35 shares in the last quarter. Kozak & Associates Inc. bought a new position in Chubb in the third quarter worth about $29,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Chubb in the third quarter worth about $29,000. Raelipskie Partnership purchased a new stake in Chubb in the third quarter worth about $29,000. Finally, Truvestments Capital LLC bought a new stake in Chubb during the 3rd quarter valued at approximately $30,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

NYSE CB opened at $267.21 on Tuesday. The stock has a market capitalization of $107.71 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 6.43 and a beta of 0.67. Chubb Limited has a 1-year low of $222.85 and a 1-year high of $302.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The business’s fifty day moving average price is $280.41 and its 200-day moving average price is $278.05.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. The company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. Chubb had a return on equity of 15.46% and a net margin of 18.32%. Chubb’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.95 earnings per share. On average, equities analysts predict that Chubb Limited will post 21.82 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.64 annualized dividend and a yield of 1.36%. Chubb’s dividend payout ratio (DPR) is 14.91%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods raised their target price on Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Bank of America raised their price objective on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Barclays reduced their target price on shares of Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research report on Monday. Jefferies Financial Group boosted their price objective on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, JMP Securities boosted their target price on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $286.16.

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.