5,296 Shares in Chubb Limited $CB Purchased by Sumitomo Life Insurance Co.

Key Points

• Sumitomo Life Insurance purchased 5,296 Chubb shares worth approximately $1.8 million during the second quarter. Institutional investors and hedge funds now own 83.81% of Chubb’s outstanding stock.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $361. Several firms raised their targets, while Wells Fargo maintained an equal-weight view.
• Chubb exceeded quarterly EPS estimates, reporting $7.26 versus the $6.77 consensus, while revenue rose 3.6% year over year. The company also declared a quarterly dividend of $1.02, equivalent to a 1.2% annualized yield.

Sumitomo Life Insurance Co. bought a new position in Chubb Limited (NYSE:CB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,296 shares of the financial services provider's stock, valued at approximately $1,805,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Korea Investment CORP bought a new position in shares of Chubb during the second quarter valued at approximately $118,624,000. EP Wealth Advisors LLC acquired a new stake in shares of Chubb during the 2nd quarter worth approximately $5,798,000. Ieq Capital LLC acquired a new stake in shares of Chubb during the 2nd quarter worth approximately $67,421,000. Heron Bay Capital Management bought a new stake in shares of Chubb in the 2nd quarter worth approximately $526,000. Finally, Callan Family Office LLC bought a new stake in shares of Chubb in the 2nd quarter worth approximately $4,288,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Joseph F. Wayland sold 8,502 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the transaction, the executive vice president directly owned 33,749 shares in the company, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CB. Keefe, Bruyette & Woods boosted their price objective on Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. increased their target price on Chubb from $340.00 to $370.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Weiss Ratings upgraded Chubb from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, June 29th. Wells Fargo & Company reduced their price target on shares of Chubb from $358.00 to $356.00 and set an "equal weight" rating for the company in a report on Thursday, July 23rd. Finally, Citizens Jmp restated a "market outperform" rating and set a $400.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Chubb has a consensus rating of "Hold" and a consensus price target of $361.00.

Chubb Stock Performance

Shares of NYSE CB opened at $341.15 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $345.88 and a 200-day simple moving average of $333.31. The company has a market cap of $131.62 billion, a PE ratio of 12.07, a P/E/G ratio of 1.66 and a beta of 0.39. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. During the same period in the prior year, the company posted $6.14 EPS. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Chubb Limited will post 27.49 EPS for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. Chubb's dividend payout ratio is presently 14.43%.

Chubb Company 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.

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