Sumitomo Life Insurance Co. Boosts Stock Position in Chubb Limited (NYSE:CB)

Sumitomo Life Insurance Co. grew its position in shares of Chubb Limited (NYSE:CB) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,164 shares of the financial services provider’s stock after purchasing an additional 150 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Chubb were worth $1,778,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SeaCrest Wealth Management LLC raised its position in Chubb by 8.1% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,788 shares of the financial services provider’s stock worth $804,000 after purchasing an additional 208 shares during the period. Crescent Sterling Ltd. bought a new stake in Chubb during the 3rd quarter valued at $247,000. Bill Few Associates Inc. purchased a new stake in Chubb during the 3rd quarter valued at $220,000. Swedbank AB grew its holdings in Chubb by 3.3% in the 3rd quarter. Swedbank AB now owns 259,288 shares of the financial services provider’s stock worth $74,776,000 after acquiring an additional 8,328 shares during the last quarter. Finally, Washington Capital Management Inc. purchased a new position in shares of Chubb in the third quarter valued at about $210,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Performance

Shares of Chubb stock opened at $293.10 on Thursday. Chubb Limited has a 1 year low of $205.64 and a 1 year high of $294.18. The firm’s 50-day moving average is $283.51 and its 200 day moving average is $267.37. The stock has a market cap of $119.02 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 5.87 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. During the same period in the previous year, the company earned $4.92 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Sell-side analysts anticipate that Chubb Limited will post 21.32 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were paid a dividend of $0.91 per share. The ex-dividend date was Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.24%. Chubb’s dividend payout ratio is 16.16%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CB shares. Royal Bank of Canada raised their target price on Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on Chubb from $290.00 to $291.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Barclays initiated coverage on Chubb in a report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Chubb from $255.00 to $269.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group upped their price objective on shares of Chubb from $294.00 to $295.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $282.37.

Insiders Place Their Bets

In related news, CEO Evan G. Greenberg sold 30,318 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the transaction, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Chubb news, CEO Evan G. Greenberg sold 30,537 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at approximately $167,748,829.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of the business’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 sale, the chief executive officer now owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,636 shares of company stock valued at $24,874,208. Corporate insiders own 0.86% of the company’s stock.

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.