Mitsubishi UFJ Trust & Banking Corp Has $69.47 Million Holdings in Chubb Limited (NYSE:CB)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its holdings in Chubb Limited by 5.2%, now owning approximately 0.06% of the company valued at $69,473,000.
• Chubb's quarterly earnings exceeded analysts' expectations, reporting $6.14 earnings per share against a consensus estimate of $5.84, with revenue of $14.20 billion.
• The company announced a quarterly dividend increase to $0.97, up from the previous $0.91, representing a 1.5% dividend yield.

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Chubb Limited (NYSE:CB - Free Report) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,052 shares of the financial services provider's stock after selling 12,699 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of Chubb worth $69,473,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Peoples Bank KS acquired a new position in shares of Chubb during the first quarter worth $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Chubb in the first quarter worth $25,000. North Capital Inc. bought a new stake in shares of Chubb in the first quarter worth $26,000. IMA Advisory Services Inc. bought a new stake in shares of Chubb in the first quarter worth $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after buying an additional 89 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Price Performance

CB stock traded up $0.85 during trading on Tuesday, hitting $268.59. The company had a trading volume of 202,119 shares, compared to its average volume of 1,807,519. The firm has a market capitalization of $107.08 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 3.03 and a beta of 0.53. The business has a 50 day moving average of $281.86 and a 200 day moving average of $282.50. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18.

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

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is currently 17.12%.

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

Analyst Ratings Changes

A number of analysts recently issued reports on CB shares. Barclays lowered shares of Chubb from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $321.00 to $298.00 in a research note on Monday, July 7th. JPMorgan Chase & Co. lifted their price target on shares of Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Jefferies Financial Group lifted their price target on shares of Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Morgan Stanley lifted their price target on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $301.50.

Insider Buying and Selling at Chubb

In other Chubb news, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction dated 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 completion of the sale, the insider directly owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Corbat purchased 425 shares of the business's stock in a transaction on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, with a total value of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares in the company, valued at $661,010. The trade was a 20.99% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 100,390 shares of company stock valued at $29,163,135. 0.86% of the stock is owned by insiders.

About Chubb

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.