Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Position in Chubb Limited $CB

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in Chubb Limited by 4.0% in Q2, owning 54,118 shares valued at approximately $15.68 million.
• Chubb reported an earnings per share (EPS) of $6.14 for the last quarter, exceeding estimates by $0.30, alongside a revenue of $14.20 billion, well above analyst expectations of $12.53 billion.
• The company announced a quarterly dividend of $0.97 per share, with an annualized yield of 1.4%, to be paid on October 3rd to stockholders of record on September 12th.

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Chubb Limited (NYSE:CB - Free Report) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,118 shares of the financial services provider's stock after purchasing an additional 2,083 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Chubb were worth $15,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of CB. Peoples Bank KS purchased a new position in shares of Chubb in the first quarter worth $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Chubb in the first quarter worth $25,000. North Capital Inc. purchased a new position in shares of Chubb in the first quarter worth $26,000. IMA Advisory Services Inc. purchased a new position in shares of Chubb in the first quarter worth $31,000. Finally, 1248 Management LLC bought a new position in Chubb during the first quarter valued at $31,000. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Performance

CB traded down $0.28 during trading on Friday, reaching $274.00. 3,627,677 shares of the company's stock were exchanged, compared to its average volume of 1,736,191. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market capitalization of $109.24 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.56. The company's fifty day simple moving average is $273.76 and its 200-day simple moving average is $282.97.

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

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 12th. Chubb's payout ratio is 17.12%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Chubb from $300.00 to $295.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. Keefe, Bruyette & Woods increased their target price on shares of Chubb from $314.00 to $324.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. UBS Group reduced their target price on shares of Chubb from $304.00 to $292.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Piper Sandler reissued a "neutral" rating and issued a $283.00 target price (down previously from $335.00) on shares of Chubb in a research note on Thursday, July 24th. Finally, Barclays cut shares of Chubb from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $321.00 to $298.00 in a report on Monday, July 7th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Chubb has an average rating of "Hold" and an average price target of $303.06.

Insider Activity at Chubb

In related news, insider John J. Lupica sold 5,513 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider directly owned 91,180 shares in the company, valued at approximately $26,447,670.80. The trade was a 5.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Corbat acquired 425 shares of Chubb stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the acquisition, the director owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their position. The disclosure for this purchase can be found here. 0.77% of the stock is owned by insiders.

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.