Chubb Limited (NYSE:CB) Shares Bought by Mitsubishi UFJ Asset Management UK Ltd.

Mitsubishi UFJ Asset Management UK Ltd. grew its position in shares of Chubb Limited (NYSE:CB) by 120.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 11,000 shares of the financial services provider’s stock after purchasing an additional 6,000 shares during the quarter. Chubb accounts for about 1.8% of Mitsubishi UFJ Asset Management UK Ltd.’s holdings, making the stock its 14th biggest holding. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Chubb were worth $3,322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. E Fund Management Co. Ltd. lifted its holdings in Chubb by 3.9% in the first quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider’s stock worth $291,000 after purchasing an additional 36 shares during the period. Sunflower Bank N.A. lifted its holdings in 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 purchasing an additional 38 shares during the period. Avantax Planning Partners Inc. lifted its holdings in Chubb by 5.1% in the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 38 shares during the period. HighPoint Advisor Group LLC lifted its holdings in Chubb by 0.5% in the first quarter. HighPoint Advisor Group LLC now owns 8,857 shares of the financial services provider’s stock worth $2,524,000 after purchasing an additional 40 shares during the period. Finally, Fortitude Advisory Group L.L.C. lifted its holdings in Chubb by 5.6% in the first quarter. Fortitude Advisory Group L.L.C. now owns 798 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael Corbat bought 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John W. Keogh sold 85,083 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the completion of the transaction, the chief operating officer directly owned 237,728 shares of the company’s stock, valued at approximately $68,998,174.72. This trade represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,390 shares of company stock valued at $29,163,135 over the last ninety days. 0.77% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of research analyst reports. Cantor Fitzgerald initiated coverage on shares of Chubb in a report on Tuesday. They issued a “neutral” rating and a $290.00 price target for the company. Barclays downgraded shares of Chubb from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $321.00 to $298.00 in a report on Monday, July 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 price target for the company. in a report on Tuesday, May 20th. Piper Sandler reissued a “neutral” rating and issued a $283.00 price target (down from $335.00) on shares of Chubb in a report on Thursday, July 24th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $302.31.

Chubb Stock Performance

Shares of CB opened at $275.04 on Thursday. The company’s fifty day moving average is $278.56 and its 200-day moving average is $282.43. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The firm has a market cap of $109.66 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 3.05 and a beta of 0.53. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter last year, the company posted $5.38 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb announced that its Board of Directors has authorized a share buyback plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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.