Meiji Yasuda Life Insurance Co Sells 3,143 Shares of Chubb Limited $CB

Key Points

• Meiji Yasuda Life Insurance Co sold 3,143 shares of Chubb Limited, reducing its holdings by 7.7% to 37,545 shares, valued at approximately $11.34 million.
• Chubb recently reported an earnings per share (EPS) of $6.14 for the last quarter, exceeding the consensus estimate of $5.84, with revenues up 6.3% year-over-year.
• The company announced a $5 billion share repurchase plan, indicating that its board believes the stock may be undervalued.

Meiji Yasuda Life Insurance Co decreased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,545 shares of the financial services provider's stock after selling 3,143 shares during the period. Meiji Yasuda Life Insurance Co's holdings in Chubb were worth $11,338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Peoples Bank KS acquired a new position in shares of Chubb in the first quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Chubb in the first quarter valued at $25,000. North Capital Inc. acquired a new position in shares of Chubb in the first quarter valued at $26,000. IMA Advisory Services Inc. acquired a new position in shares of Chubb in the first quarter valued at $31,000. Finally, 1248 Management LLC acquired a new position in shares of Chubb in the first quarter valued at $31,000. Institutional investors own 83.81% of the company's stock.

Insider Buying and Selling

In related news, Director Michael Corbat purchased 425 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average price 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 approximately $661,010. This trade represents a 20.99% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the firm's 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 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 disclosure for this sale can be found here. Company insiders own 0.86% of the company's stock.

Chubb Stock Down 0.9%

Shares of CB opened at $277.32 on Monday. The company has a market capitalization of $110.56 billion, a P/E ratio of 12.23, a PEG ratio of 3.13 and a beta of 0.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a one year low of $252.16 and a one year high of $306.91. The business's 50 day simple moving average is $274.97 and its 200-day simple moving average is $283.28.

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

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

Chubb Announces Dividend

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

Wall Street Analyst Weigh In

CB has been the subject of a number of recent research reports. UBS Group cut their target price on Chubb from $304.00 to $292.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Citigroup assumed coverage on Chubb in a research report on Wednesday, August 13th. They set a "buy" rating and a $326.00 target price for the company. Cantor Fitzgerald upgraded Chubb to a "hold" rating in a research report on Wednesday, August 13th. Barclays downgraded Chubb from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $321.00 to $298.00 in a research report on Monday, July 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Chubb has a consensus rating of "Hold" and an average price target of $302.00.

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.

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