Meiji Yasuda Life Insurance Co Sells 3,143 Shares of Chubb Limited $CB

Meiji Yasuda Life Insurance Co reduced its stake in Chubb Limited (NYSE:CB) by 7.7% during the 1st quarter, Holdings Channel reports. The firm owned 37,545 shares of the financial services provider’s stock after selling 3,143 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Chubb were worth $11,338,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CB. GQG Partners LLC increased its stake in shares of Chubb by 112.1% in the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock valued at $2,836,899,000 after acquiring an additional 4,964,298 shares during the last quarter. Demars Financial Group LLC increased its stake in shares of Chubb by 16.4% in the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock valued at $1,884,004,000 after acquiring an additional 878,177 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Chubb by 6.9% in the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock valued at $1,418,398,000 after acquiring an additional 304,751 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider’s stock valued at $1,217,392,000 after acquiring an additional 1,403,545 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Chubb by 15.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider’s stock valued at $760,853,000 after acquiring an additional 366,559 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insider Transactions at Chubb

In other news, Director Michael Corbat purchased 425 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This trade represents a 20.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John J. Lupica sold 5,513 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the completion of the sale, the insider owned 91,180 shares in the company, valued at approximately $26,447,670.80. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

Chubb Stock Performance

Shares of Chubb stock opened at $277.32 on Monday. The firm has a market cap of $110.56 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 3.13 and a beta of 0.56. The stock’s 50-day moving average is $274.97 and its 200-day moving average is $283.28. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28.

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

Chubb declared that its board has approved a share buyback program on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, September 12th. Chubb’s payout ratio is 17.12%.

Analyst Upgrades and Downgrades

CB has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Barclays lowered Chubb from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Morgan Stanley dropped their price target on Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Wells Fargo & Company dropped their price target on Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 24th. Finally, UBS Group reduced their price target on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating for the company in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $302.00.

Chubb Company Profile

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.