Dai ichi Life Insurance Company Ltd Reduces Position in Chubb Limited $CB

Dai ichi Life Insurance Company Ltd decreased its holdings in shares of Chubb Limited (NYSE:CB) by 8.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,830 shares of the financial services provider’s stock after selling 5,395 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Chubb were worth $20,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Berkshire Hathaway Inc grew its holdings in Chubb by 9.3% during the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares during the period. State Street Corp lifted its position in shares of Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock valued at $4,827,852,000 after buying an additional 68,553 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Chubb by 25.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after buying an additional 3,049,987 shares in the last quarter. GQG Partners LLC grew its stake in shares of Chubb by 15.2% during the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after acquiring an additional 1,647,729 shares during the period. Finally, Bank of America Corp DE increased its holdings in Chubb by 11.6% in the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after acquiring an additional 513,852 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of NYSE:CB opened at $359.78 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.36. The firm has a fifty day moving average price of $335.55 and a 200 day moving average price of $327.09. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $365.29. The firm has a market cap of $139.55 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 1.77 and a beta of 0.40.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.77 by $0.49. The company had revenue of $16.01 billion for the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. Chubb’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.14 EPS. As a group, sell-side analysts expect that Chubb Limited will post 27.08 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were given a dividend of $1.02 per share. The ex-dividend date was Friday, June 12th. This is a positive change from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.1%. Chubb’s dividend payout ratio (DPR) is 14.43%.

Insider Activity

In related news, COO John W. Keogh sold 23,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer directly owned 203,322 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CB. Mizuho raised their target price on shares of Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Cantor Fitzgerald raised their price objective on shares of Chubb from $318.00 to $337.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $400.00 target price on shares of Chubb in a report on Wednesday. Atlantic Securities set a $301.00 price target on Chubb in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods upped their price objective on Chubb from $374.00 to $389.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $360.09.

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.