Mirae Asset Global Investments Co. Ltd. Buys 4,013 Shares of Chubb Limited $CB

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Chubb Limited by 8.5% during the second quarter, acquiring 4,013 additional shares to hold a total of 51,071 shares valued at approximately $14.8 million.
• A significant number of institutional investors have modified their holdings of Chubb, with GQG Partners LLC increasing its stake by 112.1% to 9.39 million shares valued at nearly $2.84 billion.
• Chubb reported $6.14 EPS for the latest quarter, exceeding analysts' expectations, and also declared a quarterly dividend of $0.97 per share, reflecting a 1.4% yield.

Mirae Asset Global Investments Co. Ltd. grew its stake in Chubb Limited (NYSE:CB - Free Report) by 8.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,071 shares of the financial services provider's stock after purchasing an additional 4,013 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Chubb were worth $14,796,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CB. GQG Partners LLC lifted its holdings in shares of Chubb by 112.1% in the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider's stock valued at $2,836,899,000 after purchasing an additional 4,964,298 shares in the last quarter. Nuveen LLC bought a new position in shares of Chubb in the first quarter valued at approximately $562,221,000. Demars Financial Group LLC lifted its holdings in shares of Chubb by 16.4% in the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock valued at $1,884,004,000 after purchasing an additional 878,177 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Chubb by 1,243.9% in the first quarter. SG Americas Securities LLC now owns 680,456 shares of the financial services provider's stock valued at $205,491,000 after purchasing an additional 629,822 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Chubb by 6.9% in the first quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider's stock valued at $1,418,398,000 after purchasing an additional 304,751 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Insider Transactions at Chubb

In other news, Director Michael Corbat purchased 425 shares of the company's stock in a transaction on Friday, July 25th. The stock was purchased at an average price of $269.80 per share, with a total value of $114,665.00. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.77% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley dropped their price target on Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Hsbc Global Res lowered Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. UBS Group dropped their price target on Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Wells Fargo & Company dropped their price target on Chubb from $285.00 to $267.00 and set an "equal weight" rating on the stock in a report on Thursday, July 24th. Finally, Barclays lowered 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 report on Monday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Chubb has a consensus rating of "Hold" and a consensus price target of $303.24.

Chubb Price Performance

Shares of NYSE CB opened at $283.99 on Friday. The stock has a market cap of $113.22 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 3.20 and a beta of 0.54. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a fifty day moving average of $274.76 and a 200-day moving average of $282.15.

Chubb (NYSE:CB - Get Free Report) last posted 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. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. During the same period in the previous year, the business earned $5.38 earnings per share. The firm's revenue was up 6.3% on a year-over-year basis. Equities research analysts anticipate 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 was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.88 annualized dividend and a yield of 1.4%. Chubb's payout ratio is 17.12%.

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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