Chubb Limited (NYSE:CB) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,058 shares of the financial services provider’s stock after selling 360 shares during the period. Sumitomo Life Insurance Co.’s holdings in Chubb were worth $1,595,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CB. Deutsche Bank AG lifted its position in shares of Chubb by 426.8% during the third quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock worth $3,355,762,000 after purchasing an additional 13,059,385 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Chubb by 102,751.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,289,814 shares of the financial services provider’s stock worth $1,828,733,000 after buying an additional 8,281,754 shares during the last quarter. Norges Bank bought a new stake in shares of Chubb in the fourth quarter worth $619,661,000. 1832 Asset Management L.P. increased its stake in shares of Chubb by 1,476.9% in the fourth quarter. 1832 Asset Management L.P. now owns 999,392 shares of the financial services provider’s stock worth $220,466,000 after buying an additional 936,015 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Chubb by 978.1% in the third quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock worth $113,781,000 after buying an additional 495,860 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on CB shares. Raymond James lifted their price target on shares of Chubb from $270.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 1st. Citigroup restated a “neutral” rating and issued a $275.00 price target (up previously from $238.00) on shares of Chubb in a research note on Thursday, March 14th. Piper Sandler reiterated an “overweight” rating and set a $282.00 target price on shares of Chubb in a research note on Monday, April 1st. JMP Securities boosted their target price on shares of Chubb from $250.00 to $280.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 31st. Finally, The Goldman Sachs Group boosted their target price on shares of Chubb from $228.00 to $254.00 and gave the company a “neutral” rating in a research note on Friday. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $264.58.

Insider Buying and Selling at Chubb

In other news, insider John J. Lupica sold 34,464 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total value of $8,923,418.88. Following the completion of the sale, the insider now directly owns 130,937 shares of the company’s stock, valued at $33,902,208.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider John J. Lupica sold 34,464 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total value of $8,923,418.88. Following the sale, the insider now owns 130,937 shares in the company, valued at $33,902,208.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,303 shares of Chubb stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total transaction of $3,701,330.34. Following the sale, the executive vice president now owns 35,662 shares in the company, valued at approximately $9,228,612.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,043 shares of company stock valued at $29,766,694. 0.86% of the stock is currently owned by corporate insiders.

Chubb Price Performance

Shares of NYSE CB opened at $245.81 on Monday. Chubb Limited has a twelve month low of $183.71 and a twelve month high of $260.58. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $99.80 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.16 and a beta of 0.62. The firm has a 50-day moving average of $252.64 and a two-hundred day moving average of $233.25.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $8.30 earnings per share for the quarter, beating analysts’ consensus estimates of $5.07 by $3.23. Chubb had a net margin of 18.11% and a return on equity of 16.45%. The company had revenue of $13.38 billion during the quarter, compared to the consensus estimate of $12.88 billion. As a group, analysts expect that Chubb Limited will post 21.15 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.86 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.44 annualized dividend and a yield of 1.40%. Chubb’s payout ratio is presently 15.76%.

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.