Meiji Yasuda Asset Management Co Ltd. Sells 6,509 Shares of Chubb Limited $CB

Meiji Yasuda Asset Management Co Ltd. trimmed its position in Chubb Limited (NYSE:CB) by 24.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,224 shares of the financial services provider’s stock after selling 6,509 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Chubb were worth $6,107,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. E Fund Management Co. Ltd. raised its holdings in shares of Chubb by 3.9% in the 1st quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 36 shares during the period. Rise Advisors LLC raised its holdings in shares of Chubb by 4.6% in the 1st quarter. Rise Advisors LLC now owns 841 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 37 shares during the period. Sunflower Bank N.A. raised its holdings in Chubb by 4.4% in the 1st quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 38 shares during the period. Avantax Planning Partners Inc. raised its holdings in Chubb by 5.1% in the 1st quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider’s stock valued at $236,000 after acquiring an additional 38 shares during the period. Finally, Lincoln Capital LLC raised its holdings in Chubb by 0.6% in the 1st quarter. Lincoln Capital LLC now owns 6,962 shares of the financial services provider’s stock valued at $2,022,000 after acquiring an additional 39 shares during the period. 83.81% of the stock is owned by institutional investors.

Chubb Stock Performance

Shares of NYSE:CB opened at $277.63 on Tuesday. The company’s 50 day moving average price is $274.73 and its two-hundred day moving average price is $283.35. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $306.91. The firm has a market cap of $110.69 billion, a PE ratio of 12.25, a PEG ratio of 3.13 and a beta of 0.56. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) 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 firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the prior year, the business posted $5.38 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. Equities research analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 12th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, September 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. Chubb’s dividend payout ratio (DPR) is currently 17.12%.

Chubb announced that its board has initiated a stock buyback program on Thursday, May 15th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have weighed in on CB shares. HSBC cut shares of Chubb from a “buy” rating to a “hold” rating and lowered their price target for the company from $317.00 to $300.00 in a report on Friday, August 1st. Morgan Stanley lowered their price target on shares of Chubb from $300.00 to $295.00 and set an “equal weight” rating on the stock in a report on Monday, August 18th. Hsbc Global Res cut shares of Chubb from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Evercore ISI set a $312.00 price target on shares of Chubb in a report on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Chubb from $314.00 to $324.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $302.00.

Insider Activity at Chubb

In other news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John J. Lupica sold 5,513 shares of the 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 sale, the insider owned 91,180 shares in the company, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

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.