KKM Financial LLC Acquires 615 Shares of Chubb Limited (NYSE:CB)

KKM Financial LLC raised its stake in shares of Chubb Limited (NYSE:CB) by 6.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,780 shares of the financial services provider’s stock after purchasing an additional 615 shares during the quarter. Chubb accounts for 1.4% of KKM Financial LLC’s portfolio, making the stock its 23rd largest holding. KKM Financial LLC’s holdings in Chubb were worth $2,820,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in Chubb by 28,885.3% in the third quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock valued at $2,696,640,000 after acquiring an additional 931,841 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Chubb by 4,559.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 844,832 shares of the financial services provider’s stock valued at $243,641,000 after purchasing an additional 826,700 shares in the last quarter. Troy Asset Management Ltd bought a new stake in shares of Chubb in the 2nd quarter worth about $106,975,000. Van Lanschot Kempen Investment Management N.V. bought a new position in Chubb during the 2nd quarter valued at about $93,411,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Chubb by 349.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 463,300 shares of the financial services provider’s stock valued at $118,179,000 after buying an additional 360,300 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CB has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Evercore ISI boosted their price objective on Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Barclays started coverage on shares of Chubb in a research note on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target on the stock. Finally, Piper Sandler boosted their target price on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $287.37.

Insider Activity at Chubb

In related news, Director Michael G. Atieh sold 261 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the transaction, the director now owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. This trade represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. This trade represents a 5.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,715 shares of company stock valued at $23,803,540. 0.86% of the stock is owned by insiders.

Chubb Stock Performance

Shares of CB opened at $285.21 on Friday. The firm has a market cap of $114.97 billion, a P/E ratio of 11.68, a PEG ratio of 6.65 and a beta of 0.67. Chubb Limited has a twelve month low of $216.90 and a twelve month high of $302.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The firm’s 50 day moving average price is $287.46 and its two-hundred day moving average price is $274.26.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 EPS for the quarter, beating the consensus estimate of $4.98 by $0.74. The business had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.95 EPS. On average, analysts forecast that Chubb Limited will post 21.77 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.28%. Chubb’s payout ratio is presently 14.91%.

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.