Meiji Yasuda Life Insurance Co Grows Stake in Chubb Limited (NYSE:CB)

Meiji Yasuda Life Insurance Co grew its position in Chubb Limited (NYSE:CB) by 5.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,982 shares of the financial services provider’s stock after buying an additional 1,128 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Chubb were worth $5,352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC bought a new position in Chubb during the 1st quarter worth about $25,000. Beacon Capital Management LLC lifted its position in shares of Chubb by 76.4% in 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 during the period. Chilton Capital Management LLC bought a new position in shares of Chubb during the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new position in Chubb during the second quarter valued at approximately $28,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in Chubb in the fourth quarter worth approximately $29,000. Institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of NYSE:CB opened at $290.78 on Wednesday. Chubb Limited has a twelve month low of $204.15 and a twelve month high of $294.18. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The company has a market cap of $118.07 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 5.59 and a beta of 0.66. The company’s 50 day moving average is $273.91 and its 200 day moving average is $262.59.

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. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The firm had revenue of $13.36 billion for the quarter, compared to analyst estimates of $13.04 billion. During the same quarter in the prior year, the business earned $4.92 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts forecast that Chubb Limited will post 21.2 EPS for the current year.

Chubb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.25%. Chubb’s payout ratio is 16.16%.

Wall Street Analysts Forecast Growth

CB has been the topic of several recent research reports. JMP Securities increased their target price on Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on Chubb from $266.00 to $286.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Barclays assumed coverage on shares of Chubb in a research report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $274.70.

Insider Buying and Selling

In other Chubb news, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at $160,341,094.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the sale, the executive vice president now directly owns 45,853 shares in the company, valued at approximately $12,199,649.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The disclosure for this sale can be found here. Insiders have sold a total of 94,836 shares of company stock valued at $27,055,900 over the last ninety days. Company insiders own 0.86% of the company’s stock.

Chubb 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.