Sumitomo Mitsui DS Asset Management Company Ltd Raises Position in Chubb Limited $CB

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Chubb Limited (NYSE:CB) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,118 shares of the financial services provider’s stock after buying an additional 2,083 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Chubb were worth $15,679,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. GQG Partners LLC lifted its stake in shares of Chubb by 112.1% in the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after acquiring an additional 4,964,298 shares in the last quarter. Demars Financial Group LLC lifted its stake in shares of Chubb by 16.4% in the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock worth $1,884,004,000 after acquiring an additional 878,177 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Chubb by 6.9% in the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after acquiring an additional 304,751 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Chubb by 1.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider’s stock worth $840,756,000 after acquiring an additional 30,334 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Chubb by 36,831.3% in the first quarter. GAMMA Investing LLC now owns 2,084,033 shares of the financial services provider’s stock worth $629,357,000 after acquiring an additional 2,078,390 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In other news, insider John J. Lupica sold 5,513 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the completion of the transaction, the insider directly owned 91,180 shares of the company’s stock, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Corbat bought 425 shares of the stock in a transaction dated Friday, July 25th. The shares were bought at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares of the company’s stock, valued at approximately $661,010. The trade was a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.77% of the stock is currently owned by corporate insiders.

Chubb Stock Up 0.8%

NYSE:CB opened at $274.36 on Friday. The firm has a market capitalization of $109.38 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 3.07 and a beta of 0.56. The stock has a 50 day moving average of $273.84 and a 200-day moving average of $283.08. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.84 by $0.30. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.38 earnings per share. Analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb’s dividend payout ratio is 17.12%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CB shares. Wells Fargo & Company cut their price target on Chubb from $285.00 to $267.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 24th. Citigroup began coverage on Chubb in a research note on Wednesday, August 13th. They issued a “buy” rating and a $326.00 price target on the stock. UBS Group cut their price objective on Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a research note on Monday, July 28th. Evercore ISI set a $312.00 price objective on Chubb in a research note on Wednesday, July 23rd. Finally, Piper Sandler restated a “neutral” rating and set a $283.00 price objective (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $303.06.

Chubb Company Profile

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.