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

Daiichi Life Insurance Co. Ltd. acquired a new stake in Chubb Limited (NYSE:CB) in the second quarter, Holdings Channel reports. The firm acquired 68,130 shares of the financial services provider’s stock, valued at approximately $23,215,000.

Other large investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new position in Chubb in the 2nd quarter valued at approximately $25,000. Dunhill Financial LLC purchased a new stake in shares of Chubb during the second quarter worth $25,000. CBIZ Investment Advisory Services LLC raised its stake in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 49 shares in the last quarter. Frazier Financial Advisors LLC boosted its holdings in Chubb by 86.4% in the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 38 shares during the period. Finally, Merkkuri Wealth Advisors LLC purchased a new position in Chubb in the first quarter valued at $29,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Performance

Shares of Chubb stock opened at $341.15 on Friday. The firm’s fifty day simple moving average is $345.88 and its 200-day simple moving average is $333.31. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The stock has a market capitalization of $131.62 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.65 and a beta of 0.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $15.07 billion. During the same quarter in the prior year, the business earned $6.14 EPS. Chubb’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Chubb Limited will post 27.49 earnings per share for the current year.

Chubb Announces Dividend

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

Analyst Ratings Changes

CB has been the topic of several analyst reports. Morgan Stanley raised their target price on shares of Chubb from $340.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday. Atlantic Securities set a $301.00 price objective on shares of Chubb in a research report on Wednesday, July 15th. Mizuho raised 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. Keefe, Bruyette & Woods lifted their price objective on shares of Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Finally, Piper Sandler boosted their target price on shares of Chubb from $340.00 to $374.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Two research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $361.00.

Insider Activity

In other news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is currently owned by corporate 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.