Resona Asset Management Co. Ltd. Cuts Stock Holdings in Chubb Limited $CB

Resona Asset Management Co. Ltd. cut its stake in shares of Chubb Limited (NYSE:CB) by 4.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 119,339 shares of the financial services provider’s stock after selling 6,162 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Chubb were worth $33,683,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. grew its position in Chubb by 93.6% during the third quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 44 shares during the period. Cedar Mountain Advisors LLC lifted its stake in shares of Chubb by 155.6% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. VSM Wealth Advisory LLC purchased a new stake in shares of Chubb during the 2nd quarter worth about $32,000. Heartwood Wealth Advisors LLC acquired a new stake in Chubb during the 3rd quarter worth approximately $34,000. Finally, Financial Consulate Inc. purchased a new position in Chubb in the third quarter valued at approximately $37,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CB shares. Mizuho set a $317.00 price objective on shares of Chubb in a research note on Wednesday, January 14th. Cantor Fitzgerald lifted their target price on shares of Chubb from $300.00 to $309.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Barclays increased their price target on Chubb from $317.00 to $339.00 and gave the company an “equal weight” rating in a report on Thursday, January 8th. Weiss Ratings reissued a “buy (b+)” rating on shares of Chubb in a research report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a research report on Monday, November 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $323.81.

Insider Buying and Selling at Chubb

In other news, EVP Joseph F. Wayland sold 5,830 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the completion of the transaction, the executive vice president directly owned 60,593 shares in the company, valued at approximately $18,000,968.44. This represents a 8.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy Alan Boroughs sold 850 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $295.19, for a total transaction of $250,911.50. Following the sale, the executive vice president directly owned 1,585 shares of the company’s stock, valued at $467,876.15. The trade was a 34.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 57,333 shares of company stock worth $16,629,873 in the last 90 days. 0.77% of the stock is owned by corporate insiders.

Chubb Stock Performance

Shares of CB stock opened at $300.93 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. The company’s fifty day moving average price is $303.93 and its two-hundred day moving average price is $286.59. The firm has a market capitalization of $118.43 billion, a P/E ratio of 12.56, a P/E/G ratio of 3.28 and a beta of 0.51. Chubb Limited has a 12 month low of $263.14 and a 12 month high of $316.94.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were issued a $0.97 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.3%. Chubb’s dividend payout ratio is currently 16.19%.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.