Sompo Asset Management Co. Ltd. Lowers Stake in Chubb Limited (NYSE:CB)

Sompo Asset Management Co. Ltd. cut its stake in Chubb Limited (NYSE:CB) by 3.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,480 shares of the financial services provider’s stock after selling 60 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Chubb were worth $427,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in shares of Chubb by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,933,389 shares of the financial services provider’s stock worth $1,258,202,000 after purchasing an additional 63,891 shares in the last quarter. Legal & General Group Plc grew its position in Chubb by 2.9% during the second quarter. Legal & General Group Plc now owns 3,679,874 shares of the financial services provider’s stock valued at $938,663,000 after acquiring an additional 104,986 shares during the last quarter. Raymond James & Associates grew its position in Chubb by 2.9% during 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 acquiring an additional 87,059 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Chubb by 7.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,297,706 shares of the financial services provider’s stock worth $586,207,000 after acquiring an additional 160,335 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Chubb by 0.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,428,357 shares of the financial services provider’s stock valued at $364,345,000 after purchasing an additional 8,215 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Transactions at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of Chubb 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph F. Wayland sold 6,599 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $287.06, for a total value of $1,894,308.94. Following the transaction, the executive vice president now directly owns 84,101 shares in the company, valued at approximately $24,142,033.06. The trade was a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,715 shares of company stock valued at $23,803,540. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CB. Keefe, Bruyette & Woods lifted their target price on shares of Chubb from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Bank of America boosted their price objective on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Piper Sandler raised their target price on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Finally, Evercore ISI lifted their target price on shares of Chubb from $289.00 to $293.00 and gave the stock an “outperform” 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $287.37.

Chubb Stock Up 0.0 %

Shares of NYSE:CB opened at $285.21 on Monday. The firm has a market capitalization of $114.97 billion, a P/E ratio of 11.68, a P/E/G ratio of 6.65 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a 50 day moving average price of $287.46 and a 200-day moving average price of $274.58. Chubb Limited has a 52-week low of $216.90 and a 52-week high of $302.05.

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

Chubb Dividend Announcement

The business also recently announced 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. This represents a $3.64 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, December 13th. Chubb’s dividend payout ratio (DPR) is 14.91%.

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.