Nissay Asset Management Corp Japan Buys Shares of 47,107 Chubb Limited $CB

Key Points

• Nissay Asset Management purchased 47,107 Chubb shares in the second quarter, valued at approximately $16.1 million. Institutional investors collectively own 83.81% of the insurer.
• Chubb reported quarterly EPS of $7.26, exceeding analyst estimates of $6.77, while revenue rose 3.6% year over year. The company expects full-year EPS of approximately $27.35.
• Chubb declared a quarterly dividend of $1.02 per share, equivalent to $4.08 annually and a 1.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $361.

Nissay Asset Management Corp Japan purchased a new position in shares of Chubb Limited (NYSE:CB - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 47,107 shares of the financial services provider's stock, valued at approximately $16,051,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. IMG Wealth Management Inc. bought a new position in shares of Chubb in the second quarter valued at approximately $25,000. Dunhill Financial LLC bought a new position in Chubb during the 2nd quarter valued at $25,000. CBIZ Investment Advisory Services LLC increased its position in shares of Chubb by 148.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 49 shares during the period. Parvin Asset Management LLC bought a new stake in shares of Chubb in the 2nd quarter worth $26,000. Finally, Frazier Financial Advisors LLC raised its stake in shares of Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock worth $27,000 after buying an additional 38 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Chubb Stock Up 0.6%

Shares of Chubb stock opened at $340.34 on Friday. Chubb Limited has a 12-month low of $265.30 and a 12-month high of $365.91. The firm has a market capitalization of $131.30 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.65 and a beta of 0.39. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The stock's fifty day moving average is $347.46 and its 200-day moving average is $333.97.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating analysts' consensus estimates of $6.77 by $0.49. The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $6.14 EPS. Equities analysts anticipate that Chubb Limited will post 27.35 earnings per share for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb's dividend payout ratio is currently 14.43%.

Insider Activity

In other news, Director Michael P. Connors sold 5,500 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the sale, the director owned 12,803 shares in the company, valued at $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph F. Wayland sold 8,502 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the sale, the executive vice president owned 33,749 shares of the company's stock, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

CB has been the subject of several research reports. Mizuho raised their target price on Chubb from $335.00 to $352.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Cantor Fitzgerald upped their price target on shares of Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Piper Sandler raised their price objective on shares of Chubb from $340.00 to $374.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. HSBC cut shares of Chubb from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $370.00 to $373.00 in a research note on Monday, July 6th. Finally, Citigroup reiterated a "market outperform" rating on shares of Chubb in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $361.00.

Chubb Company 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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