Mitsubishi UFJ Asset Management Co. Ltd. Buys 46,767 Shares of Chubb Limited $CB

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Chubb Limited (NYSE:CB) by 6.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 747,379 shares of the financial services provider’s stock after buying an additional 46,767 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Chubb were worth $216,531,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Modern Wealth Management LLC grew its position in shares of Chubb by 6.2% during the 1st quarter. Modern Wealth Management LLC now owns 2,464 shares of the financial services provider’s stock valued at $744,000 after acquiring an additional 143 shares during the period. Assetmark Inc. raised its holdings in shares of Chubb by 14.1% in the 2nd quarter. Assetmark Inc. now owns 71,294 shares of the financial services provider’s stock worth $20,655,000 after purchasing an additional 8,828 shares during the period. Trifecta Capital Advisors LLC lifted its stake in Chubb by 764.7% in the second quarter. Trifecta Capital Advisors LLC now owns 147 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 130 shares during the last quarter. Jump Financial LLC grew its holdings in Chubb by 633.6% during the first quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider’s stock valued at $2,470,000 after purchasing an additional 7,065 shares during the period. Finally, Legato Capital Management LLC grew its holdings in Chubb by 120.9% during the first quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider’s stock valued at $3,080,000 after purchasing an additional 5,582 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Trading Up 1.6%

Shares of Chubb stock opened at $287.45 on Friday. The company’s 50-day moving average price is $278.79 and its 200-day moving average price is $280.64. The company has a current ratio of 0.27, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The company has a market cap of $113.13 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 2.74 and a beta of 0.58.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The business had revenue of $14.87 billion for the quarter, compared to analyst estimates of $12.95 billion. During the same quarter in the prior year, the firm posted $5.72 EPS. Chubb’s revenue was up 7.5% on a year-over-year basis. On average, equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 12th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.3%. Chubb’s payout ratio is presently 16.19%.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 23,698 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $281.00, for a total value of $6,659,138.00. Following the transaction, the insider directly owned 90,600 shares in the company, valued at approximately $25,458,600. This represents a 20.73% 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. Insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group boosted their target price on Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Bank of America boosted their price objective on Chubb from $276.00 to $279.00 and gave the company an “underperform” rating in a research note on Monday, October 13th. HSBC upped their price objective on shares of Chubb from $302.00 to $304.00 in a report on Wednesday, October 29th. Evercore ISI lifted their target price on shares of Chubb from $312.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company upped their price target on shares of Chubb from $277.00 to $293.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Chubb currently has a consensus rating of “Hold” and an average target price of $307.79.

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.