Sompo Japan Nipponkoa Asset Management CO. LTD. lifted its position in Chubb Ltd (NYSE:CB) by 37.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,590 shares of the financial services provider’s stock after purchasing an additional 2,890 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Chubb were worth $1,183,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. MainStreet Investment Advisors LLC bought a new stake in shares of Chubb in the first quarter worth about $372,000. Banco Santander S.A. bought a new stake in shares of Chubb in the first quarter worth about $283,000. Heritage Trust Co increased its holdings in shares of Chubb by 3.8% in the first quarter. Heritage Trust Co now owns 7,910 shares of the financial services provider’s stock worth $883,000 after purchasing an additional 290 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Chubb by 11.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 120,170 shares of the financial services provider’s stock worth $13,422,000 after purchasing an additional 11,992 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Chubb by 10.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 21,370 shares of the financial services provider’s stock worth $2,387,000 after purchasing an additional 1,987 shares during the last quarter. 88.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CB traded up $3.92 during mid-day trading on Friday, reaching $117.00. 4,796,232 shares of the company’s stock traded hands, compared to its average volume of 3,636,962. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $51.04 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.14 and a beta of 0.68. The stock’s 50-day moving average is $107.74 and its two-hundred day moving average is $137.75. Chubb Ltd has a 12 month low of $87.35 and a 12 month high of $167.74.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be issued a $0.78 dividend. This is a positive change from Chubb’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, June 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.67%. Chubb’s payout ratio is presently 29.67%.
Several equities research analysts have weighed in on CB shares. ValuEngine cut Chubb from a “hold” rating to a “sell” rating in a research note on Monday, May 4th. Piper Sandler raised Chubb from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $145.00 to $131.00 in a research note on Monday, April 6th. Morgan Stanley reduced their price objective on Chubb from $127.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. MKM Partners reduced their price objective on Chubb from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Finally, Atlantic Securities raised Chubb from an “underweight” rating to a “neutral” rating and set a $130.00 price objective on the stock in a research note on Tuesday, March 24th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $148.06.
In other news, Director Robert W. Scully purchased 9,750 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average price of $102.40 per share, for a total transaction of $998,400.00. Following the completion of the acquisition, the director now owns 20,723 shares of the company’s stock, valued at $2,122,035.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Theodore Shasta bought 2,000 shares of the stock in a transaction on Tuesday, March 17th. The shares were bought at an average price of $99.74 per share, with a total value of $199,480.00. Following the acquisition, the director now owns 16,375 shares of the company’s stock, valued at $1,633,242.50. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by insiders.
Chubb Company Profile
Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.
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