Sompo Asset Management Co. Ltd. Sells 60 Shares of Chubb Limited (NYSE:CB)

Sompo Asset Management Co. Ltd. lessened its stake in shares of Chubb Limited (NYSE:CB) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,480 shares of the financial services provider’s stock after selling 60 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Chubb were worth $427,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Pathway Financial Advisers LLC bought a new stake in Chubb during the 1st quarter worth about $25,000. Beacon Capital Management LLC increased its stake in Chubb by 76.4% during the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Chilton Capital Management LLC bought a new stake in Chubb in the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Chubb during the second quarter worth about $28,000. Finally, Kozak & Associates Inc. bought a new position in shares of Chubb during the 3rd quarter worth approximately $29,000. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In related news, CEO Evan G. Greenberg sold 30,318 shares of the firm’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 owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This trade represents a 5.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael G. Atieh sold 261 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the sale, the director now directly owns 39,172 shares of the company’s stock, valued at $11,261,558.28. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,715 shares of company stock valued at $23,803,540. Company insiders own 0.86% of the company’s stock.

Chubb Price Performance

Chubb stock opened at $285.21 on Monday. The stock has a market capitalization of $114.97 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 6.65 and a beta of 0.67. Chubb Limited has a 52-week low of $216.90 and a 52-week high of $302.05. The stock’s 50 day moving average price is $287.46 and its two-hundred day moving average price is $274.58. 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 announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.74. The firm had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.95 earnings per share. On average, equities analysts predict that Chubb Limited will post 21.77 earnings per share for the current year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.64 annualized dividend and a yield of 1.28%. Chubb’s payout ratio is currently 14.91%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays started coverage on Chubb in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. JMP Securities increased their target price on Chubb from $300.00 to $325.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Piper Sandler boosted their price objective on shares of Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chubb currently has an average rating of “Hold” and a consensus target price of $287.37.

Chubb Company 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.