Chubb Limited (NYSE:CB) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd decreased its stake in Chubb Limited (NYSE:CB) by 20.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,123 shares of the financial services provider’s stock after selling 17,258 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Chubb were worth $19,934,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CB. ORG Partners LLC purchased a new stake in shares of Chubb in the second quarter valued at about $963,000. Moloney Securities Asset Management LLC raised its stake in shares of Chubb by 97.9% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock worth $1,111,000 after buying an additional 1,905 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Chubb by 21.2% in the 2nd quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock valued at $3,279,000 after buying an additional 2,250 shares during the period. Raymond James & Associates boosted its stake in shares of Chubb by 2.9% in the second quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock valued at $778,270,000 after buying an additional 87,059 shares in the last quarter. Finally, Savvy Advisors Inc. acquired a new position in Chubb during the third quarter worth $721,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Up 0.4 %

NYSE:CB opened at $286.41 on Tuesday. The stock has a market cap of $115.45 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 6.65 and a beta of 0.67. The business has a fifty day moving average of $287.37 and a 200-day moving average of $274.81. Chubb Limited has a 1 year low of $216.90 and a 1 year high of $302.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. During the same period in the prior year, the business posted $4.95 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts predict that Chubb Limited will post 21.77 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Friday, December 13th. Chubb’s dividend payout ratio (DPR) is presently 14.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays began coverage on shares of Chubb in a research report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price on the stock. Keefe, Bruyette & Woods increased their target price on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Piper Sandler lifted their price objective on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Bank of America lifted their price target on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley increased their price objective on shares of Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $287.37.

Insider Buying and Selling at Chubb

In other Chubb news, insider John J. Lupica sold 15,000 shares of Chubb stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the transaction, the insider now directly owns 103,950 shares in the company, valued at approximately $29,676,685.50. The trade was a 12.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the completion of the sale, the chief executive officer now directly owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This trade represents a 4.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 82,715 shares of company stock valued at $23,803,540. 0.86% of the stock is owned by insiders.

About Chubb

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.