Chubb Limited (NYSE:CB) Shares Bought by Mitsubishi UFJ Asset Management UK Ltd.

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. increased its stake in Chubb Limited by 120%, acquiring an additional 6,000 shares, bringing its total holdings to 11,000 shares, worth approximately $3.32 million.
• Chubb reported $6.14 EPS for the quarter, exceeding estimates, with a revenue of $14.20 billion and a year-over-year growth of 6.3%.
• The company's board authorized a stock buyback plan of $5 billion, indicating a belief that its shares are currently undervalued.

Mitsubishi UFJ Asset Management UK Ltd. lifted its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 120.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,000 shares of the financial services provider's stock after buying an additional 6,000 shares during the period. Chubb makes up approximately 1.8% of Mitsubishi UFJ Asset Management UK Ltd.'s investment portfolio, making the stock its 14th biggest holding. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Chubb were worth $3,322,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. E Fund Management Co. Ltd. raised its holdings in shares of Chubb by 3.9% during the first quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock worth $291,000 after purchasing an additional 36 shares during the last quarter. Sunflower Bank N.A. raised its holdings in shares of Chubb by 4.4% during the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock worth $273,000 after purchasing an additional 38 shares during the last quarter. Avantax Planning Partners Inc. raised its holdings in shares of Chubb by 5.1% during the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock worth $236,000 after purchasing an additional 38 shares during the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Chubb by 0.5% during the first quarter. HighPoint Advisor Group LLC now owns 8,857 shares of the financial services provider's stock worth $2,524,000 after purchasing an additional 40 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. raised its holdings in shares of Chubb by 5.6% during the first quarter. Fortitude Advisory Group L.L.C. now owns 798 shares of the financial services provider's stock worth $227,000 after purchasing an additional 42 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Stock Performance

Shares of NYSE CB opened at $275.04 on Thursday. The company has a market cap of $109.66 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 3.05 and a beta of 0.53. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The company has a 50-day simple moving average of $278.56 and a 200-day simple moving average of $282.43.

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

Chubb announced that its board has authorized a stock repurchase plan on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Chubb

In other news, COO John W. Keogh sold 85,083 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the transaction, the chief operating officer directly owned 237,728 shares of the company's stock, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Corbat purchased 425 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average price of $269.80 per share, with a total value of $114,665.00. Following the purchase, the director owned 2,450 shares of the company's stock, valued at approximately $661,010. The trade was a 20.99% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 100,390 shares of company stock valued at $29,163,135. Corporate insiders own 0.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and cut their price objective for the company from $317.00 to $300.00 in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft cut shares of 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. Wells Fargo & Company cut their price objective on shares of Chubb from $285.00 to $267.00 and set an "equal weight" rating for the company in a report on Thursday, July 24th. Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $321.00 to $298.00 in a report on Monday, July 7th. Finally, Hsbc Global Res cut shares of Chubb from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $302.31.

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.

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