Mirae Asset Global Investments Co. Ltd. Purchases 19,704 Shares of Chubb Limited $CB

Key Points

• Mirae Asset increased its stake in Chubb by 37.1%, buying 19,704 shares to hold 72,882 shares worth about $22.75 million, and institutional investors now own roughly 83.81% of the company.
• Significant insider selling occurred last quarter — EVP Timothy Boroughs sold 27,817 shares for about $9.23 million, and insiders sold a total of 44,877 shares valued at $14.89 million, leaving insiders with just 0.77% ownership.
• Chubb reported quarterly EPS of $7.52 (beat the $6.33 estimate) with revenue up 8.9% year-over-year, pays a $0.97 quarterly dividend (annualized $3.88, ~1.2% yield), and trades at a P/E of 12.86 with an average analyst price target of $345.86 (consensus rating: Hold).

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 37.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,882 shares of the financial services provider's stock after purchasing an additional 19,704 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Chubb were worth $22,748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CB. Brighton Jones LLC lifted its position in Chubb by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock worth $537,000 after purchasing an additional 221 shares during the period. Revolve Wealth Partners LLC bought a new stake in Chubb during the fourth quarter worth about $205,000. Woodline Partners LP lifted its position in Chubb by 13.0% during the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider's stock worth $3,805,000 after purchasing an additional 1,449 shares during the period. Sivia Capital Partners LLC lifted its position in Chubb by 14.4% during the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider's stock worth $403,000 after purchasing an additional 175 shares during the period. Finally, Sei Investments Co. lifted its position in Chubb by 9.3% during the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider's stock worth $58,305,000 after purchasing an additional 17,155 shares during the period. Institutional investors own 83.81% of the company's stock.

Insider Activity

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of the company's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares of the company's stock, valued at $3,920,683.80. This represents a 70.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Olivier Steimer sold 2,000 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 25,468 shares of the company's stock, valued at $8,386,612.40. This represents a 7.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 44,877 shares of company stock valued at $14,885,226 over the last quarter. 0.77% of the stock is owned by company insiders.

Chubb Stock Up 0.7%

CB stock opened at $330.79 on Friday. The stock has a market capitalization of $129.09 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.49. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The firm has a 50-day moving average price of $329.06 and a 200-day moving average price of $308.41.

Chubb (NYSE:CB - Get Free Report) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, topping analysts' consensus estimates of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The firm had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $11.11 billion. During the same quarter in the prior year, the business earned $6.02 earnings per share. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Friday, March 13th were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. Chubb's dividend payout ratio is currently 15.08%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CB shares. Cantor Fitzgerald upped their price objective on shares of Chubb from $300.00 to $309.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 14th. Weiss Ratings reissued a "buy (b+)" rating on shares of Chubb in a report on Friday, March 27th. BMO Capital Markets increased their target price on shares of Chubb from $283.00 to $326.00 and gave the stock a "market perform" rating in a report on Tuesday, February 10th. Morgan Stanley set a $350.00 target price on shares of Chubb in a report on Friday, January 16th. Finally, Citizens Jmp reissued a "market outperform" rating and issued a $350.00 target price on shares of Chubb in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chubb currently has an average rating of "Hold" and an average price target of $345.86.

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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