Daiwa Securities Group Inc. Boosts Stake in Chubb Limited $CB

Key Points

• Daiwa Securities Group Inc. increased its Chubb stake by 5.0% in the fourth quarter, buying 4,070 more shares and bringing its total to 86,185 shares worth about $26.9 million.
• Institutional ownership remains heavy, with 83.81% of Chubb’s stock held by hedge funds and other institutional investors. Berkshire Hathaway, State Street, Ameriprise, Bank of America, and Norges Bank were among the notable holders that recently added to or initiated positions.
• Chubb shares rose 3.9% and opened at $326.82, while analysts maintained a mixed but generally positive view: the consensus rating is “Moderate Buy” with an average price target of $349.90.

Daiwa Securities Group Inc. lifted its holdings in Chubb Limited (NYSE:CB - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,185 shares of the financial services provider's stock after buying an additional 4,070 shares during the period. Daiwa Securities Group Inc.'s holdings in Chubb were worth $26,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Berkshire Hathaway Inc raised its stake in Chubb by 15.9% during the third quarter. Berkshire Hathaway Inc now owns 31,332,895 shares of the financial services provider's stock worth $8,843,710,000 after purchasing an additional 4,299,111 shares during the period. State Street Corp boosted its holdings in Chubb by 0.4% in the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider's stock valued at $4,827,852,000 after purchasing an additional 68,553 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Chubb by 9.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,053,497 shares of the financial services provider's stock valued at $1,426,475,000 after purchasing an additional 427,512 shares during the last quarter. Bank of America Corp DE boosted its holdings in Chubb by 11.6% in the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider's stock valued at $1,428,278,000 after purchasing an additional 513,852 shares during the last quarter. Finally, Norges Bank acquired a new position in Chubb in the 4th quarter valued at about $1,081,190,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chubb

In related news, Director Olivier Steimer sold 2,000 shares of the company's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the sale, the director owned 25,468 shares in the company, valued at $8,386,612.40. This represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John W. Keogh sold 23,000 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on CB shares. Bank of America decreased their target price on shares of Chubb from $286.00 to $271.00 and set an "underperform" rating on the stock in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Chubb from $304.00 to $330.00 and gave the company a "hold" rating in a research note on Monday, March 23rd. Wells Fargo & Company lifted their price objective on shares of Chubb from $321.00 to $333.00 and gave the company an "equal weight" rating in a report on Thursday, April 23rd. Mizuho cut their target price on shares of Chubb from $336.00 to $335.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 14th. Finally, The Goldman Sachs Group boosted their price target on shares of Chubb from $368.00 to $372.00 and gave the stock a "buy" rating in a report on Tuesday, April 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $349.90.

Chubb Stock Up 3.9%

CB stock opened at $326.82 on Friday. The company has a fifty day moving average price of $324.69 and a 200 day moving average price of $317.87. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The company has a market cap of $126.76 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 1.61 and a beta of 0.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 EPS for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The firm had revenue of $14.93 billion during the quarter. Sell-side analysts expect that Chubb Limited will post 26.8 earnings per share for the current year.

Chubb 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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