Sumitomo Mitsui DS Asset Management Company Ltd Acquires 628 Shares of Chubb Limited (NYSE:CB)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Chubb Limited (NYSE:CB) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,035 shares of the financial services provider’s stock after buying an additional 628 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Chubb were worth $15,714,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Sunflower Bank N.A. increased its stake in shares of Chubb by 4.4% in the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider’s stock worth $273,000 after buying an additional 38 shares during the period. Tandem Wealth Advisors LLC grew its holdings in Chubb by 3.0% in the 4th quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 40 shares during the last quarter. Unison Advisors LLC grew its holdings in Chubb by 0.3% in the 4th quarter. Unison Advisors LLC now owns 13,500 shares of the financial services provider’s stock worth $3,742,000 after acquiring an additional 41 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Chubb by 1.6% in the fourth quarter. Lindbrook Capital LLC now owns 2,716 shares of the financial services provider’s stock valued at $750,000 after acquiring an additional 42 shares during the period. Finally, Sage Mountain Advisors LLC raised its stake in shares of Chubb by 1.7% during the fourth quarter. Sage Mountain Advisors LLC now owns 2,467 shares of the financial services provider’s stock valued at $682,000 after acquiring an additional 42 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Chubb Stock Down 0.1%

NYSE:CB opened at $289.34 on Wednesday. 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 company has a market capitalization of $115.95 billion, a PE ratio of 13.92, a P/E/G ratio of 3.22 and a beta of 0.53. The firm’s 50-day moving average price is $288.00 and its 200-day moving average price is $281.96. Chubb Limited has a 1-year low of $251.42 and a 1-year high of $306.91.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.40. The company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. On average, equities analysts predict that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.34%. This is a boost from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. Chubb’s dividend payout ratio (DPR) is presently 18.67%.

Chubb announced that its board has approved a share repurchase program on Thursday, May 15th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CB shares. Jefferies Financial Group raised their target price on Chubb from $307.00 to $308.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. HSBC upgraded Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective on the stock in a research report on Wednesday, March 5th. Piper Sandler upped their target price on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a report on Tuesday, April 1st. Hsbc Global Res raised Chubb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Chubb in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Chubb presently has a consensus rating of “Moderate Buy” and an average price target of $307.53.

Insider Transactions at Chubb

In other Chubb news, COO John W. Keogh sold 9,794 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the transaction, the chief operating officer owned 247,538 shares of the company’s stock, valued at $72,526,158.62. This represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.86% of the company’s stock.

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.