Mitsubishi UFJ Asset Management Co. Ltd. Takes $306.35 Million Position in Chubb Limited $CB

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Chubb Limited (NYSE:CB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 899,069 shares of the financial services provider’s stock, valued at approximately $306,349,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.23% of Chubb at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC lifted its position in shares of Chubb by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 221 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in Chubb during the fourth quarter valued at approximately $205,000. Woodline Partners LP grew its position in Chubb by 13.0% during the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock valued at $3,805,000 after purchasing an additional 1,449 shares in the last quarter. Sivia Capital Partners LLC grew its position in Chubb by 14.4% during the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 175 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Chubb by 9.3% in the 2nd quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock valued at $58,305,000 after buying an additional 17,155 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the sale, the executive vice president owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by insiders.

Analyst Ratings Changes

CB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and upped their price target for the stock from $370.00 to $373.00 in a research note on Monday, July 6th. Atlantic Securities set a $301.00 price objective on Chubb in a research report on Wednesday, July 15th. Mizuho boosted their target price on Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Cantor Fitzgerald upped their target price on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $360.09.

Chubb Stock Down 0.7%

Chubb stock opened at $341.24 on Tuesday. The company has a market capitalization of $131.65 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.70 and a beta of 0.39. The firm’s fifty day simple moving average is $344.69 and its 200-day simple moving average is $332.47. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 1-year low of $265.30 and a 1-year high of $365.91.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.77 by $0.49. The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. Chubb’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.14 EPS. Sell-side analysts forecast that Chubb Limited will post 27.45 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be given a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s payout ratio is currently 14.43%.

Chubb Company 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.