Nissay Asset Management Corp Japan Takes $16.05 Million Position in Chubb Limited $CB

by · The Markets Daily

Nissay Asset Management Corp Japan purchased a new stake in shares of Chubb Limited (NYSE:CBFree Report) during the 2nd quarter, Holdings Channel reports. The fund purchased 47,107 shares of the financial services provider’s stock, valued at approximately $16,051,000.

Several other hedge funds have also recently bought and sold shares of the business. IMG Wealth Management Inc. purchased a new position in Chubb during the 2nd quarter valued at about $25,000. Dunhill Financial LLC purchased a new stake in shares of Chubb in the second quarter worth approximately $25,000. Parvin Asset Management LLC acquired a new stake in shares of Chubb during the second quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC grew its position in Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. Finally, Frazier Financial Advisors LLC increased its stake in Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after buying an additional 38 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Price Performance

Shares of CB opened at $340.34 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $131.30 billion, a PE ratio of 12.04, a PEG ratio of 1.65 and a beta of 0.39. The firm’s 50 day moving average price is $347.46 and its 200 day moving average price is $333.97. Chubb Limited has a twelve month low of $265.30 and a twelve month high of $365.91.

Chubb (NYSE:CBGet Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same period in the previous year, the firm posted $6.14 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, research analysts expect that Chubb Limited will post 27.35 EPS for the current fiscal year.

Chubb Announces Dividend

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

Insiders Place Their Bets

In other Chubb news, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction dated 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 directly owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael P. Connors sold 5,500 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the sale, the director directly owned 12,803 shares of the company’s stock, valued at $4,417,035. This represents a 30.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of a number of research analyst reports. Citizens Jmp reiterated a “market outperform” rating and issued a $400.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their price target on shares of Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Morgan Stanley upped their price target on shares of Chubb from $340.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 19th. Citigroup reiterated a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Finally, Mizuho lifted their price objective on Chubb from $335.00 to $352.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $361.00.

Check Out Our Latest Research Report on Chubb

Chubb Profile

(Free Report)

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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