Meiji Yasuda Asset Management Co Ltd. Has $6.11 Million Stock Holdings in Chubb Limited $CB

Key Points

• Meiji Yasuda Asset Management Co Ltd. reduced its holdings in Chubb Limited by 24.3%, resulting in ownership of 20,224 shares worth approximately $6.11 million.
• Chubb recently reported $6.14 EPS for its latest quarter, exceeding analyst expectations and demonstrating a year-over-year revenue increase of 6.3%.
• The company announced a $5 billion stock repurchase program, indicating confidence from its board in the perceived undervaluation of its stock.

Meiji Yasuda Asset Management Co Ltd. reduced its holdings in Chubb Limited (NYSE:CB - Free Report) by 24.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,224 shares of the financial services provider's stock after selling 6,509 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Chubb were worth $6,107,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CB. Legato Capital Management LLC grew its stake in Chubb by 120.9% in the first quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider's stock valued at $3,080,000 after acquiring an additional 5,582 shares during the period. Jump Financial LLC increased its stake in Chubb by 633.6% during the 1st quarter. Jump Financial LLC now owns 8,180 shares of the financial services provider's stock worth $2,470,000 after acquiring an additional 7,065 shares during the period. Davis Rea LTD. bought a new position in Chubb during the 1st quarter worth $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Chubb by 15.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider's stock valued at $760,853,000 after purchasing an additional 366,559 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Chubb by 3.3% during the 1st quarter. First Horizon Advisors Inc. now owns 43,280 shares of the financial services provider's stock valued at $13,070,000 after acquiring an additional 1,375 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup started coverage on Chubb in a research report on Wednesday, August 13th. They issued a "buy" rating and a $326.00 target price for the company. UBS Group reduced their price objective on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Evercore ISI set a $312.00 price objective on shares of Chubb in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price for the company. in a research report on Tuesday, May 20th. Finally, Morgan Stanley lowered their target price on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $302.00.

Insider Activity at Chubb

In other Chubb news, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the transaction, the insider directly owned 91,180 shares of the company's stock, valued at $26,447,670.80. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Corbat purchased 425 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares of the company's stock, valued at $661,010. This represents a 20.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.77% of the stock is currently owned by company insiders.

Chubb Price Performance

Shares of NYSE CB traded up $5.76 during trading on Thursday, hitting $283.21. The company had a trading volume of 1,656,983 shares, compared to its average volume of 1,591,194. The firm has a market capitalization of $112.91 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 3.13 and a beta of 0.56. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The stock has a fifty day simple moving average of $274.46 and a two-hundred day simple moving average of $283.33. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB - Get Free Report) last released its quarterly 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. 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 the consensus estimate of $12.53 billion. During the same period in the previous year, the firm earned $5.38 EPS. The business's revenue was up 6.3% on a year-over-year basis. On average, research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 12th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's dividend payout ratio (DPR) is currently 17.12%.

Chubb announced that its board has authorized a share buyback program on Thursday, May 15th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

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.