Chubb Limited (NYSE:CB) Stock Holdings Lessened by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in Chubb Limited (NYSE:CB) by 5.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 230,052 shares of the financial services provider’s stock after selling 12,699 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Chubb worth $69,473,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Sunflower Bank N.A. boosted its holdings in shares of Chubb by 4.4% during the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 38 shares during the period. Avantax Planning Partners Inc. boosted its holdings in shares of Chubb by 5.1% during the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 38 shares during the period. Tandem Wealth Advisors LLC boosted its holdings in shares of Chubb by 3.0% during the fourth quarter. Tandem Wealth Advisors LLC now owns 1,382 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 40 shares during the period. HighPoint Advisor Group LLC boosted its holdings in shares of Chubb by 0.5% during the first quarter. HighPoint Advisor Group LLC now owns 8,857 shares of the financial services provider’s stock worth $2,524,000 after purchasing an additional 40 shares during the period. Finally, Fortitude Advisory Group L.L.C. boosted its holdings in shares of Chubb by 5.6% during the first quarter. Fortitude Advisory Group L.L.C. now owns 798 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 42 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CB has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a “buy” rating to a “hold” rating and set a $303.00 price target for the company. in a report on Tuesday, May 20th. Wells Fargo & Company reduced their target price on shares of Chubb from $285.00 to $267.00 and set an “equal weight” rating for the company in a research note on Thursday, July 24th. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and reduced their target price for the company from $317.00 to $300.00 in a research note on Friday. Piper Sandler reiterated a “neutral” rating and issued a $283.00 target price (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $301.50.

Insider Transactions at Chubb

In related news, insider John J. Lupica sold 5,513 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were 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 in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John W. Keogh sold 9,794 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the transaction, the chief operating officer owned 247,538 shares of the company’s stock, valued at approximately $72,526,158.62. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,390 shares of company stock worth $29,163,135. 0.77% of the stock is owned by insiders.

Chubb Price Performance

Shares of Chubb stock opened at $267.40 on Friday. The firm has a fifty day simple moving average of $282.23 and a 200-day simple moving average of $282.45. 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 Limited has a 1-year low of $252.16 and a 1-year high of $306.91. The stock has a market capitalization of $106.61 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 3.03 and a beta of 0.53.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.84 by $0.30. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the previous year, the company earned $5.38 earnings per share. Chubb’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a $0.97 dividend. The ex-dividend date was Friday, June 13th. This is a positive change from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.5%. Chubb’s dividend payout ratio is presently 17.12%.

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

Chubb 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.