Norinchukin Bank The Has $6 Million Stock Holdings in Chubb Limited $CB

Key Points

• Norinchukin Bank increased its stake in Chubb Limited by 15.1%, acquiring an additional 2,610 shares, bringing its total holdings to 19,881 shares worth approximately $6 million.
• Chubb reported quarterly earnings of $6.14 per share, surpassing consensus estimates of $5.84, with a revenue of $14.20 billion, well above expected figures of $12.53 billion.
• The company announced a quarterly dividend of $0.97 per share, which will be paid on October 3rd, reflecting a 1.4% dividend yield and a dividend payout ratio of 17.12%.

Norinchukin Bank The lifted its holdings in Chubb Limited (NYSE:CB - Free Report) by 15.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 19,881 shares of the financial services provider's stock after purchasing an additional 2,610 shares during the quarter. Norinchukin Bank The's holdings in Chubb were worth $6,004,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. GQG Partners LLC grew its position in shares of Chubb by 112.1% in the 1st quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock valued at $2,836,899,000 after purchasing an additional 4,964,298 shares during the period. Demars Financial Group LLC grew its position in shares of Chubb by 16.4% in the 1st quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock valued at $1,884,004,000 after purchasing an additional 878,177 shares during the period. Royal Bank of Canada grew its position in shares of Chubb by 46.7% in the 4th quarter. Royal Bank of Canada now owns 4,406,052 shares of the financial services provider's stock valued at $1,217,392,000 after purchasing an additional 1,403,545 shares during the period. Northern Trust Corp grew its position in shares of Chubb by 15.3% in the 4th quarter. Northern Trust Corp now owns 3,923,754 shares of the financial services provider's stock valued at $1,084,133,000 after purchasing an additional 522,049 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Chubb by 9.2% in the 4th quarter. Deutsche Bank AG now owns 3,603,145 shares of the financial services provider's stock valued at $995,549,000 after purchasing an additional 302,699 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Down 0.5%

Shares of NYSE:CB traded down $1.4450 during midday trading on Friday, reaching $277.3750. The company had a trading volume of 1,401,699 shares, compared to its average volume of 1,816,380. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The business's 50 day moving average price is $276.76 and its 200 day moving average price is $282.66. The stock has a market cap of $110.59 billion, a PE ratio of 12.24, a P/E/G ratio of 3.13 and a beta of 0.53. Chubb Limited has a 1-year low of $252.16 and a 1-year high of $306.91.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. The company had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. Chubb's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.38 EPS. Research analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's dividend payout ratio is presently 17.12%.

Chubb announced that its board has initiated a share repurchase program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CB shares. Keefe, Bruyette & Woods boosted their price objective on Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft downgraded Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective for the company. in a report on Tuesday, May 20th. Morgan Stanley decreased their price objective on Chubb from $300.00 to $295.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. HSBC downgraded Chubb from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $317.00 to $300.00 in a report on Friday, August 1st. Finally, Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $302.00.

Insider Activity

In other Chubb news, COO John W. Keogh sold 9,794 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $292.99, for a total transaction of $2,869,544.06. Following the completion of the sale, the chief operating officer owned 247,538 shares of the company's stock, valued at $72,526,158.62. This trade represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares of the company's stock, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

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.