Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in shares of Chubb Ltd (NYSE:CB) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 21,000 shares of the financial services provider’s stock, valued at approximately $3,093,000. Chubb accounts for about 0.0% of Mitsubishi UFJ Asset Management UK Ltd.’s holdings, making the stock its 21st largest holding.
A number of other large investors also recently added to or reduced their stakes in CB. WCM Investment Management LLC raised its holdings in Chubb by 100.6% during the 1st quarter. WCM Investment Management LLC now owns 14,039,350 shares of the financial services provider’s stock valued at $1,966,632,000 after buying an additional 7,040,520 shares during the period. Norges Bank purchased a new stake in Chubb during the 4th quarter valued at $386,675,000. California Public Employees Retirement System raised its holdings in Chubb by 18.0% during the 1st quarter. California Public Employees Retirement System now owns 2,697,234 shares of the financial services provider’s stock valued at $377,829,000 after buying an additional 412,064 shares during the period. Thoroughbred Financial Services LLC raised its holdings in Chubb by 15,106.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 397,798 shares of the financial services provider’s stock valued at $39,780,000 after buying an additional 395,182 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Chubb by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 5,631,484 shares of the financial services provider’s stock valued at $726,121,000 after buying an additional 383,344 shares during the period. Institutional investors own 88.97% of the company’s stock.
In other news, CEO Evan G. Greenberg sold 215,648 shares of the stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $148.84, for a total transaction of $32,097,048.32. Following the transaction, the chief executive officer now owns 1,002,730 shares of the company’s stock, valued at approximately $149,246,333.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy Alan Boroughs sold 25,000 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $148.64, for a total value of $3,716,000.00. Following the transaction, the executive vice president now directly owns 171,315 shares in the company, valued at approximately $25,464,261.60. The disclosure for this sale can be found here. Insiders have sold a total of 342,146 shares of company stock worth $50,781,622 in the last three months. Corporate insiders own 0.47% of the company’s stock.
Several analysts recently weighed in on CB shares. Atlantic Securities lowered Chubb from a “neutral” rating to an “underweight” rating and set a $135.00 price target on the stock. in a report on Thursday, June 20th. Barclays set a $34.00 target price on DCP Midstream and gave the stock a “hold” rating in a research note on Wednesday, May 22nd. ValuEngine lowered Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. Morgan Stanley set a CHF 105 target price on Nestlé and gave the stock a “buy” rating in a research note on Friday. Finally, Zacks Investment Research lowered Horiba from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $150.45.
CB stock traded up $1.55 during midday trading on Friday, reaching $152.56. The company’s stock had a trading volume of 1,182,608 shares, compared to its average volume of 1,389,197. Chubb Ltd has a 1 year low of $119.54 and a 1 year high of $152.29. The company has a quick ratio of 0.31, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average price is $149.15. The stock has a market cap of $69.40 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.72.
Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.02. Chubb had a return on equity of 8.53% and a net margin of 11.00%. The business had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the prior year, the company earned $2.68 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that Chubb Ltd will post 10.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 21st were given a dividend of $0.75 per share. This is an increase from Chubb’s previous quarterly dividend of $0.73. The ex-dividend date was Thursday, June 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.97%. Chubb’s dividend payout ratio is presently 31.78%.
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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