Mitsubishi UFJ Asset Management Co. Ltd. Buys 21,677 Shares of Chubb Limited $CB

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Chubb Limited (NYSE:CB) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 769,056 shares of the financial services provider’s stock after purchasing an additional 21,677 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of Chubb worth $217,066,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Chubb in the second quarter worth approximately $1,195,137,000. Bank of America Corp DE raised its holdings in Chubb by 11.6% in the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after acquiring an additional 513,852 shares during the last quarter. London Co. of Virginia raised its holdings in Chubb by 211.0% in the 2nd quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock worth $213,559,000 after acquiring an additional 500,116 shares during the last quarter. Altrinsic Global Advisors LLC lifted its position in Chubb by 46.9% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider’s stock valued at $403,535,000 after acquiring an additional 444,557 shares in the last quarter. Finally, Troy Asset Management Ltd boosted its stake in Chubb by 89.1% during the 2nd quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock valued at $229,872,000 after purchasing an additional 373,872 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CB has been the subject of several recent analyst reports. Citigroup boosted their price target on Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Raymond James Financial boosted their target price on Chubb from $340.00 to $380.00 and gave the stock a “strong-buy” rating in a research report on Monday, February 9th. Morgan Stanley set a $350.00 target price on shares of Chubb in a research note on Friday, January 16th. Piper Sandler lifted their price target on shares of Chubb from $283.00 to $319.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Finally, HSBC boosted their price objective on shares of Chubb from $354.00 to $357.00 and gave the company a “buy” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $340.81.

Insiders Place Their Bets

In related news, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the transaction, the chief executive officer directly owned 511,576 shares in the company, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the sale, the executive vice president owned 11,810 shares of the company’s stock, valued at approximately $3,920,683.80. The trade was a 70.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.77% of the company’s stock.

Chubb Price Performance

NYSE CB opened at $337.97 on Friday. The company has a 50-day moving average price of $315.37 and a 200-day moving average price of $295.05. Chubb Limited has a 52 week low of $264.10 and a 52 week high of $338.79. The company has a quick ratio of 0.27, a current ratio of 0.24 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $133.01 billion, a P/E ratio of 13.14, a PEG ratio of 2.13 and a beta of 0.49.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $6.02 earnings per share. Equities research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, March 13th. Chubb’s dividend payout ratio (DPR) is currently 15.08%.

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.