Sumitomo Mitsui DS Asset Management Company Ltd Purchases 628 Shares of Chubb Limited (NYSE:CB)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Chubb Limited (NYSE:CB) by 1.2% in the first quarter, HoldingsChannel reports. The firm owned 52,035 shares of the financial services provider’s stock after purchasing an additional 628 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Chubb were worth $15,714,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CB. Peoples Bank KS bought a new position in shares of Chubb during the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new stake in Chubb in the first quarter worth $25,000. Crowley Wealth Management Inc. purchased a new position in Chubb during the fourth quarter worth $29,000. Cherry Tree Wealth Management LLC increased its position in Chubb by 56.6% during the first quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 43 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In related news, COO John W. Keogh sold 9,794 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the sale, the chief operating officer directly owned 247,538 shares of the company’s stock, valued at $72,526,158.62. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by insiders.

Chubb Stock Performance

Chubb stock opened at $289.34 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $115.95 billion, a PE ratio of 13.92, a P/E/G ratio of 3.22 and a beta of 0.53. The company has a 50 day moving average price of $288.00 and a 200-day moving average price of $281.96. Chubb Limited has a fifty-two week low of $251.42 and a fifty-two week high of $306.91.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping the consensus estimate of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. As a group, equities analysts forecast that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb announced that its board has approved a stock repurchase plan on Thursday, May 15th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.34%. This is a positive change from Chubb’s previous quarterly dividend of $0.91. Chubb’s dividend payout ratio (DPR) is currently 18.67%.

Analyst Ratings Changes

Several research firms have recently issued reports on CB. Morgan Stanley raised their target price on shares of Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. JPMorgan Chase & Co. increased their price objective on shares of Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. UBS Group raised their price objective on shares of Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Barclays dropped their target price on Chubb from $324.00 to $321.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Finally, Piper Sandler increased their price target on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $307.53.

About Chubb

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.