Daiichi Life Insurance Co. Ltd. Invests $23.21 Million in Chubb Limited $CB

Daiichi Life Insurance Co. Ltd. purchased a new position in shares of Chubb Limited (NYSE:CB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 68,130 shares of the financial services provider’s stock, valued at approximately $23,215,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CB. Janney Montgomery Scott LLC grew its stake in Chubb by 1.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider’s stock valued at $102,959,000 after acquiring an additional 5,225 shares in the last quarter. National Pension Service boosted its holdings in shares of Chubb by 24.4% during the 4th quarter. National Pension Service now owns 1,148,474 shares of the financial services provider’s stock worth $358,462,000 after purchasing an additional 225,515 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of Chubb by 884.1% during the 4th quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider’s stock worth $3,108,000 after purchasing an additional 8,947 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Chubb by 16.8% in the first quarter. Bessemer Group Inc. now owns 16,639 shares of the financial services provider’s stock valued at $5,424,000 after purchasing an additional 2,389 shares in the last quarter. Finally, Seizert Capital Partners LLC purchased a new stake in shares of Chubb in the fourth quarter valued at approximately $3,486,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Performance

NYSE CB opened at $341.15 on Friday. The stock has a fifty day simple moving average of $345.88 and a 200-day simple moving average of $333.31. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The stock has a market cap of $131.62 billion, a PE ratio of 12.07, a P/E/G ratio of 1.65 and a beta of 0.39. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91.

Chubb (NYSE:CB) last issued 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. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The firm had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same period in the previous year, the firm earned $6.14 EPS. Chubb’s revenue was up 3.6% on a year-over-year basis. Equities analysts anticipate that Chubb Limited will post 27.49 earnings per share for the current year.

Chubb Dividend Announcement

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

Wall Street Analysts Forecast Growth

CB has been the subject of several recent research reports. Weiss Ratings raised Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Cantor Fitzgerald raised their target price on Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods lifted their price target on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and boosted their price target for the company from $370.00 to $373.00 in a research report on Monday, July 6th. Finally, Mizuho upped their price objective on shares of Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Two investment 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $361.00.

Insider Buying and Selling

In related news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were 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 directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is currently owned by insiders.

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.