Meiji Yasuda Asset Management Co Ltd. Increases Stock Position in Chubb Limited (NYSE:CB)

Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Chubb Limited (NYSE:CB) by 5.0% in the 2nd quarter, Holdings Channel reports. The firm owned 29,259 shares of the financial services provider’s stock after acquiring an additional 1,388 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Chubb were worth $7,463,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC purchased a new position in Chubb during the 2nd quarter valued at approximately $963,000. Mirae Asset Global Investments Co. Ltd. increased its position in Chubb by 16.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock worth $19,448,000 after purchasing an additional 10,745 shares during the last quarter. Edgestream Partners L.P. bought a new stake in Chubb in the first quarter worth $984,000. Sierra Summit Advisors LLC bought a new position in Chubb during the fourth quarter valued at $844,000. Finally, Leuthold Group LLC bought a new position in Chubb during the first quarter valued at $3,033,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on CB shares. Barclays started 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. JMP Securities upped their price objective on Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 24th. Roth Mkm lifted their target price on Chubb from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley cut their target price on Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Bank of America raised their price target on Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $274.70.

Chubb Trading Down 0.2 %

CB opened at $290.78 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average is $273.91 and its two-hundred day moving average is $262.59. The company has a market capitalization of $118.07 billion, a P/E ratio of 12.91, a PEG ratio of 5.59 and a beta of 0.66. Chubb Limited has a 52 week low of $204.15 and a 52 week high of $294.18.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.34. The company had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.92 earnings per share. Analysts forecast that Chubb Limited will post 21.2 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, September 13th. Chubb’s payout ratio is 16.16%.

Insider Buying and Selling

In other news, CEO Evan G. Greenberg sold 30,537 shares of Chubb 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 transaction, the chief executive officer now directly owns 583,982 shares in the company, valued at approximately $167,748,829.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the transaction, the chief executive officer now owns 553,664 shares in the company, valued at approximately $160,341,094.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Evan G. Greenberg sold 30,537 shares of Chubb stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. The disclosure for this sale can be found here. Insiders sold 94,836 shares of company stock valued at $27,055,900 over the last 90 days. Corporate insiders own 0.86% of the company’s stock.

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.