Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Chubb Limited $CB

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Chubb Limited (NYSE:CB) by 4.1% in the 4th quarter, HoldingsChannel reports. The fund owned 800,917 shares of the financial services provider’s stock after purchasing an additional 31,861 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Chubb were worth $248,332,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC increased its position in Chubb by 155.6% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock valued at $26,000 after buying an additional 56 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in Chubb during the 4th quarter valued at about $31,000. Ares Financial Consulting LLC acquired a new position in Chubb during the 4th quarter valued at about $32,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Chubb during the 3rd quarter valued at about $31,000. Finally, Cornerstone Planning Group LLC grew its stake in Chubb by 81.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 53 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

Shares of Chubb stock opened at $322.61 on Wednesday. The business has a 50 day simple moving average of $328.85 and a two-hundred day simple moving average of $311.65. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The stock has a market capitalization of $125.13 billion, a P/E ratio of 11.39, a PEG ratio of 1.66 and a beta of 0.43. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The business had revenue of $14.93 billion during the quarter. As a group, analysts predict that Chubb Limited will post 26.74 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Friday, March 13th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, March 13th. Chubb’s dividend payout ratio (DPR) is currently 13.70%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CB. Citizens Jmp upped their target price on Chubb from $350.00 to $365.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 22nd. Bank of America lowered their price target on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Raymond James Financial increased their price target on Chubb from $340.00 to $380.00 and gave the stock a “strong-buy” rating in a research report on Monday, February 9th. Wells Fargo & Company increased their price target on Chubb from $321.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Finally, HSBC increased their price target on Chubb from $362.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $349.33.

Insiders Place Their Bets

In related news, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president directly owned 11,810 shares of the company’s stock, valued at $3,920,683.80. This represents a 70.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Evan G. Greenberg sold 15,060 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $331.47, for a total value of $4,991,938.20. Following the completion of the sale, the chief executive officer directly owned 511,576 shares of the company’s stock, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 44,877 shares of company stock valued at $14,885,226 over the last quarter. 0.37% of the stock is owned by insiders.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.