Global X Japan Co. Ltd. Trims Stake in Chubb Limited (NYSE:CB)

Global X Japan Co. Ltd. cut its stake in shares of Chubb Limited (NYSE:CB) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,622 shares of the financial services provider’s stock after selling 76 shares during the period. Global X Japan Co. Ltd.’s holdings in Chubb were worth $468,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. ORG Partners LLC bought a new stake in shares of Chubb during the 2nd quarter valued at $963,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Chubb by 16.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,050 shares of the financial services provider’s stock valued at $19,448,000 after acquiring an additional 10,745 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Chubb in the first quarter worth about $984,000. Leuthold Group LLC bought a new position in shares of Chubb in the first quarter worth about $3,033,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of Chubb during the first quarter worth about $3,869,000. Institutional investors own 83.81% of the company’s stock.

Insiders Place Their Bets

In other news, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $285.49, for a total transaction of $4,282,350.00. Following the transaction, the insider now owns 103,950 shares in the company, valued at approximately $29,676,685.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Juan Luis Ortega sold 3,921 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the transaction, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John J. Lupica sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $285.49, for a total value of $4,282,350.00. Following the sale, the insider now directly owns 103,950 shares in the company, valued at approximately $29,676,685.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,636 shares of company stock worth $24,874,208 in the last ninety days. 0.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. William Blair downgraded Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Wells Fargo & Company raised their target price on shares of Chubb from $255.00 to $269.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Piper Sandler boosted their price target on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Bank of America raised their price objective on Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $300.00 target price on shares of Chubb in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $282.37.

Chubb Price Performance

CB stock opened at $297.11 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20. The stock has a market cap of $120.64 billion, a PE ratio of 13.19, a P/E/G ratio of 5.87 and a beta of 0.66. Chubb Limited has a 12 month low of $205.64 and a 12 month high of $302.05. The company has a 50-day moving average price of $285.98 and a 200 day moving average price of $268.72.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.34. The business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $4.92 earnings per share. Equities research analysts anticipate that Chubb Limited will post 21.32 earnings per share for the current year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were paid a $0.91 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.23%. Chubb’s dividend payout ratio (DPR) is currently 16.16%.

About Chubb

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.