Mitsubishi UFJ Asset Management UK Ltd. Sells 4,000 Shares of Chubb Limited $CB

Mitsubishi UFJ Asset Management UK Ltd. decreased its stake in shares of Chubb Limited (NYSE:CB) by 36.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,000 shares of the financial services provider’s stock after selling 4,000 shares during the quarter. Chubb accounts for about 1.1% of Mitsubishi UFJ Asset Management UK Ltd.’s investment portfolio, making the stock its 25th biggest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Chubb were worth $2,028,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CB. GQG Partners LLC increased its holdings in shares of Chubb by 112.1% during the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock worth $2,836,899,000 after purchasing an additional 4,964,298 shares during the period. Nuveen LLC bought a new position in shares of Chubb during the 1st quarter worth about $562,221,000. Demars Financial Group LLC increased its holdings in shares of Chubb by 16.4% during the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider’s stock worth $1,884,004,000 after purchasing an additional 878,177 shares during the period. SG Americas Securities LLC increased its holdings in shares of Chubb by 1,243.9% during the 1st quarter. SG Americas Securities LLC now owns 680,456 shares of the financial services provider’s stock worth $205,491,000 after purchasing an additional 629,822 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Chubb by 6.9% during the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock worth $1,418,398,000 after purchasing an additional 304,751 shares during the period. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction on Friday, July 25th. The shares were purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CB has been the topic of several research reports. Evercore ISI set a $312.00 price objective on shares of Chubb in a report on Wednesday, July 23rd. 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 report on Wednesday, July 9th. Piper Sandler reiterated a “neutral” rating and set a $283.00 target price (down from $335.00) on shares of Chubb in a research report on Thursday, July 24th. Citigroup assumed coverage on shares of Chubb in a research report on Wednesday, August 13th. They set a “buy” rating and a $326.00 target price on the stock. Finally, Cantor Fitzgerald upgraded shares of Chubb to a “hold” rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $303.06.

Chubb Price Performance

NYSE:CB opened at $282.15 on Wednesday. The firm has a market cap of $112.49 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 3.16 and a beta of 0.56. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $274.00 and its two-hundred day moving average price is $282.44.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.84 by $0.30. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $5.38 earnings per share. On average, equities analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

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

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.