Mitsubishi UFJ Asset Management Co. Ltd. Has $211.58 Million Holdings in Chubb Limited (NYSE:CB)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Chubb Limited by 13.4%, owning 700,612 shares valued at approximately $211.58 million.
• Chubb reported quarterly earnings of $6.14 per share, exceeding analysts' expectations, with revenues of $14.20 billion, up 6.3% year-over-year.
• The company's Board approved a $5 billion stock repurchase plan, reflecting confidence in its stock value amidst ongoing investments by institutional investors like Legato Capital Management LLC.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Chubb Limited (NYSE:CB - Free Report) by 13.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 700,612 shares of the financial services provider's stock after purchasing an additional 82,692 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.17% of Chubb worth $211,578,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CB. Legato Capital Management LLC boosted its holdings in shares of Chubb by 120.9% in the 1st quarter. Legato Capital Management LLC now owns 10,200 shares of the financial services provider's stock valued at $3,080,000 after buying an additional 5,582 shares during the last quarter. Davis Rea LTD. bought a new stake in Chubb during the first quarter worth $5,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Chubb by 15.4% in the fourth 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 acquiring an additional 366,559 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Chubb by 3.3% in 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 during the period. Finally, Golden State Wealth Management LLC increased its stake in shares of Chubb by 9.1% during the 1st quarter. Golden State Wealth Management LLC now owns 549 shares of the financial services provider's stock worth $166,000 after purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Chubb Price Performance

Shares of Chubb stock opened at $269.14 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $107.31 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 3.05 and a beta of 0.53. Chubb Limited has a twelve month low of $252.16 and a twelve month high of $306.91. The company has a 50-day simple moving average of $280.53 and a two-hundred day simple moving average of $282.31.

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 for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $12.53 billion. Chubb had a net margin of 16.08% and a return on equity of 12.34%. The firm's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $5.38 earnings per share. Analysts forecast that Chubb Limited will post 21.52 EPS for the current year.

Chubb declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 15th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. Chubb's dividend payout ratio is currently 17.12%.

Insider Activity

In related news, COO John W. Keogh sold 9,794 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $292.99, for a total value of $2,869,544.06. Following the transaction, the chief operating officer owned 247,538 shares in the company, valued at approximately $72,526,158.62. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John J. Lupica sold 5,513 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total transaction of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares of the company's stock, valued at $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 100,390 shares of company stock worth $29,163,135. 0.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CB. Piper Sandler reiterated a "neutral" rating and issued a $283.00 target price (down from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft cut Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective for the company. in a research report on Tuesday, May 20th. Morgan Stanley boosted their target price on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $301.50.

Chubb 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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