Sumitomo Life Insurance Co. Boosts Stake in Chubb Limited (NYSE:CB)

Sumitomo Life Insurance Co. boosted its stake in shares of Chubb Limited (NYSE:CB) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,164 shares of the financial services provider’s stock after purchasing an additional 150 shares during the period. Sumitomo Life Insurance Co.’s holdings in Chubb were worth $1,778,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CB. ORG Partners LLC purchased a new stake in Chubb in the 2nd quarter worth approximately $963,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Chubb by 16.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock valued at $19,448,000 after purchasing an additional 10,745 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Chubb during the 1st quarter valued at $984,000. Leuthold Group LLC bought a new position in Chubb in the 1st quarter worth $3,033,000. Finally, Nomura Holdings Inc. raised its holdings in Chubb by 234.3% during the fourth quarter. Nomura Holdings Inc. now owns 8,228 shares of the financial services provider’s stock valued at $1,860,000 after acquiring an additional 5,767 shares during the period. Institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Chubb news, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the completion of the sale, the insider now directly owns 103,950 shares of the company’s stock, valued at $29,676,685.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the transaction, the chief executive officer now directly owns 553,664 shares in the company, valued at $160,341,094.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,636 shares of company stock worth $24,874,208 over the last quarter. Company insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CB. Wells Fargo & Company increased their target price on Chubb from $255.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. JMP Securities reiterated a “market outperform” rating and set a $300.00 price objective on shares of Chubb in a research report on Tuesday. William Blair lowered shares of Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday, June 28th. Piper Sandler lifted their price target on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Finally, Roth Mkm increased their price objective on shares of Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $282.37.

Chubb Stock Performance

NYSE:CB opened at $293.10 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s fifty day moving average is $283.51 and its 200 day moving average is $267.37. The firm has a market capitalization of $119.02 billion, a PE ratio of 13.01, a PEG ratio of 5.87 and a beta of 0.66. Chubb Limited has a fifty-two week low of $205.64 and a fifty-two week high of $294.18.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $13.04 billion. During the same quarter in the prior year, the firm posted $4.92 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, sell-side analysts anticipate that Chubb Limited will post 21.32 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Friday, September 13th. Chubb’s payout ratio is currently 16.16%.

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.