Sumitomo Mitsui Trust Group Inc. Lowers Stock Holdings in Chubb Limited $CB

Sumitomo Mitsui Trust Group Inc. lowered its stake in Chubb Limited (NYSE:CB) by 5.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 971,185 shares of the financial services provider’s stock after selling 54,846 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Chubb were worth $316,538,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CBIZ Investment Advisory Services LLC grew its position in Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after buying an additional 49 shares during the last quarter. Merkkuri Wealth Advisors LLC acquired a new position in Chubb in the 1st quarter valued at $29,000. KERR FINANCIAL PLANNING Corp purchased a new position in Chubb during the 3rd quarter worth $31,000. Laurel Wealth Advisors LLC purchased a new position in Chubb during the 4th quarter worth $31,000. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Chubb in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

NYSE:CB opened at $355.12 on Thursday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $137.74 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.84 and a beta of 0.40. The firm has a 50-day moving average price of $329.14 and a two-hundred day moving average price of $324.08. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $365.29.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The company had revenue of $14.93 billion for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. As a group, research analysts expect that Chubb Limited will post 26.77 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were given a dividend of $1.02 per share. The ex-dividend date was Friday, June 12th. This represents a $4.08 annualized dividend and a dividend yield of 1.1%. This is an increase from Chubb’s previous quarterly dividend of $0.97. Chubb’s payout ratio is presently 14.41%.

Insider Transactions at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

CB has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Chubb from $330.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, April 20th. HSBC downgraded shares of Chubb from a “buy” rating to a “hold” rating and raised their price objective for the company from $370.00 to $373.00 in a research report on Monday. The Goldman Sachs Group lifted their price objective on Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. BMO Capital Markets boosted their target price on Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Piper Sandler increased their target price on Chubb from $328.00 to $340.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chubb has an average rating of “Hold” and an average target price of $352.90.

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.