Meiji Yasuda America Inc Invests $5.10 Million in Chubb Limited $CB
by Michael Walen · The Markets DailyMeiji Yasuda America Inc purchased a new position in shares of Chubb Limited (NYSE:CB – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,343 shares of the financial services provider’s stock, valued at approximately $5,101,000. Chubb accounts for 1.2% of Meiji Yasuda America Inc’s investment portfolio, making the stock its 28th biggest holding.
A number of other hedge funds have also modified their holdings of CB. Berkshire Hathaway Inc grew its holdings in shares of Chubb by 15.9% during the 3rd quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider’s stock worth $8,843,710,000 after purchasing an additional 4,299,111 shares during the period. Norges Bank purchased a new position in shares of Chubb during the 4th quarter worth $1,081,190,000. AQR Capital Management LLC grew its holdings in shares of Chubb by 75.1% during the 3rd quarter. AQR Capital Management LLC now owns 2,798,546 shares of the financial services provider’s stock worth $785,468,000 after purchasing an additional 1,199,963 shares during the period. Woodline Partners LP purchased a new position in shares of Chubb during the 3rd quarter worth $220,217,000. Finally, Amundi grew its holdings in shares of Chubb by 55.4% during the 3rd quarter. Amundi now owns 1,946,622 shares of the financial services provider’s stock worth $557,493,000 after purchasing an additional 693,740 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.
Chubb Price Performance
CB opened at $328.14 on Friday. The stock’s 50-day moving average price is $324.92 and its 200 day moving average price is $318.88. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The firm has a market cap of $127.27 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.69 and a beta of 0.41.
Chubb (NYSE:CB – Get Free Report) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The firm had revenue of $14.93 billion for the quarter. As a group, sell-side analysts expect that Chubb Limited will post 26.8 earnings per share for the current year.
Chubb Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 12th. This is a positive change from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio is currently 13.70%.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on CB shares. The Goldman Sachs Group lowered their price target on Chubb from $372.00 to $362.00 and set a “buy” rating for the company in a report on Monday. Jefferies Financial Group lowered their price target on Chubb from $356.00 to $352.00 and set a “hold” rating for the company in a report on Thursday, April 23rd. Mizuho lowered their price target on Chubb from $336.00 to $335.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Evercore increased their price target on Chubb from $347.00 to $349.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Finally, Wolfe Research increased their target price on Chubb from $372.00 to $373.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $349.43.
Check Out Our Latest Stock Analysis on Chubb
Insider Activity
In other Chubb news, COO John W. Keogh sold 23,000 shares of the 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 owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This trade represents a 10.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Olivier Steimer sold 2,000 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the sale, the director directly owned 25,468 shares in the company, valued at $8,386,612.40. This represents a 7.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.
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