Daiwa Securities Group Inc. Raises Stake in Chubb Limited (NYSE:CB)

Daiwa Securities Group Inc. boosted its holdings in shares of Chubb Limited (NYSE:CB) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 48,558 shares of the financial services provider’s stock after purchasing an additional 3,027 shares during the period. Daiwa Securities Group Inc.’s holdings in Chubb were worth $14,004,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wellington Shields & Co. LLC purchased a new stake in shares of Chubb in the first quarter valued at about $94,000. Waverly Advisors LLC boosted its holdings in shares of Chubb by 237.1% in the first quarter. Waverly Advisors LLC now owns 5,232 shares of the financial services provider’s stock valued at $1,356,000 after acquiring an additional 3,680 shares in the last quarter. Bayesian Capital Management LP boosted its holdings in shares of Chubb by 8.2% in the first quarter. Bayesian Capital Management LP now owns 9,786 shares of the financial services provider’s stock valued at $2,536,000 after acquiring an additional 743 shares in the last quarter. Industrial Alliance Investment Management Inc. boosted its holdings in shares of Chubb by 3.9% in the first quarter. Industrial Alliance Investment Management Inc. now owns 4,683 shares of the financial services provider’s stock valued at $1,214,000 after acquiring an additional 174 shares in the last quarter. Finally, Dynasty Wealth Management LLC purchased a new stake in shares of Chubb in the first quarter valued at about $966,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CB has been the topic of several analyst reports. Barclays began coverage on shares of Chubb in a report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. JMP Securities lifted their price target on shares of Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Bank of America lifted their price objective on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Finally, Piper Sandler boosted their target price on Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $287.37.

Chubb Price Performance

Chubb stock opened at $285.21 on Monday. Chubb Limited has a 1 year low of $216.90 and a 1 year high of $302.05. The firm has a 50 day moving average price of $287.46 and a 200 day moving average price of $274.58. The company has a market cap of $114.97 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 6.65 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The company had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. During the same period in the previous year, the firm earned $4.95 earnings per share. Chubb’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts predict that Chubb Limited will post 21.77 earnings per share for the current year.

Chubb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.64 annualized dividend and a yield of 1.28%. Chubb’s dividend payout ratio is presently 14.91%.

Insider Activity at Chubb

In other Chubb news, Director Michael G. Atieh sold 261 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $287.49, for a total transaction of $75,034.89. Following the sale, the director now directly owns 39,172 shares of the company’s stock, valued at approximately $11,261,558.28. This represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John J. Lupica sold 15,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $29,676,685.50. This represents a 12.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,715 shares of company stock valued at $23,803,540 over the last ninety days. Corporate insiders own 0.86% of the company’s stock.

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.