Mitsubishi UFJ Trust & Banking Corp Cuts Stock Position in Chubb Limited (NYSE:CB)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Chubb Limited (NYSE:CB) by 18.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 319,202 shares of the financial services provider’s stock after selling 70,106 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Chubb were worth $50,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CB. Elo Mutual Pension Insurance Co grew its stake in shares of Chubb by 1.5% during the first quarter. Elo Mutual Pension Insurance Co now owns 32,563 shares of the financial services provider’s stock worth $5,144,000 after acquiring an additional 473 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Chubb by 28.5% during the first quarter. Mercer Global Advisors Inc. ADV now owns 13,190 shares of the financial services provider’s stock worth $2,084,000 after acquiring an additional 2,928 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Chubb during the first quarter worth about $3,007,000. Stevens Capital Management LP purchased a new stake in shares of Chubb during the first quarter worth about $257,000. Finally, Essex Financial Services Inc. grew its stake in shares of Chubb by 12.6% during the first quarter. Essex Financial Services Inc. now owns 3,794 shares of the financial services provider’s stock worth $599,000 after acquiring an additional 424 shares during the last quarter. Institutional investors and hedge funds own 87.01% of the company’s stock.

Shares of NYSE:CB opened at $165.46 on Friday. Chubb Limited has a 12-month low of $111.93 and a 12-month high of $179.01. The firm has a market capitalization of $74.41 billion, a P/E ratio of 13.44, a PEG ratio of 1.48 and a beta of 0.70. The firm has a 50 day moving average of $166.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31.

Chubb (NYSE:CB) last announced its earnings results on Monday, April 26th. The financial services provider reported $2.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.45 by $0.07. The business had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $7.69 billion. Chubb had a return on equity of 5.63% and a net margin of 14.51%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.68 EPS. On average, equities research analysts anticipate that Chubb Limited will post 11.41 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 9th. Stockholders of record on Friday, June 18th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.93%. This is an increase from Chubb’s previous quarterly dividend of $0.78. The ex-dividend date is Thursday, June 17th. Chubb’s dividend payout ratio is presently 42.68%.

In other news, EVP Sean Ringsted sold 10,220 shares of the company’s stock in a transaction that occurred on Wednesday, May 12th. The stock was sold at an average price of $166.54, for a total transaction of $1,702,038.80. Following the completion of the transaction, the executive vice president now directly owns 211,021 shares of the company’s stock, valued at approximately $35,143,437.34. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Theodore Shasta sold 290 shares of the business’s stock in a transaction that occurred on Tuesday, June 1st. The stock was sold at an average price of $171.46, for a total value of $49,723.40. Following the sale, the director now owns 16,100 shares of the company’s stock, valued at $2,760,506. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,970 shares of company stock valued at $8,912,982. Corporate insiders own 0.41% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. JMP Securities boosted their price target on Chubb from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 28th. JPMorgan Chase & Co. lifted their target price on Chubb from $155.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, April 12th. They noted that the move was a valuation call. Barclays lifted their target price on Chubb from $178.00 to $187.00 and gave the stock an “overweight” rating in a report on Monday, April 12th. They noted that the move was a valuation call. Raymond James lifted their target price on Chubb from $190.00 to $200.00 and gave the stock a “strong-buy” rating in a report on Thursday, March 11th. Finally, MKM Partners lifted their target price on Chubb from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, March 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Chubb presently has a consensus rating of “Buy” and a consensus price target of $165.78.

Chubb Company Profile

Chubb Limited, through its subsidiaries, 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, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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