Meiji Yasuda Asset Management Co Ltd. Cuts Position in Chubb Limited (NYSE:CB)

Meiji Yasuda Asset Management Co Ltd. reduced its stake in shares of Chubb Limited (NYSE:CB) by 8.2% in the fourth quarter, HoldingsChannel reports. The firm owned 26,733 shares of the financial services provider’s stock after selling 2,387 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Chubb were worth $7,386,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Continuum Advisory LLC boosted its holdings in shares of Chubb by 56.5% in the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock valued at $28,000 after buying an additional 35 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in Chubb in the third quarter worth $29,000. Raelipskie Partnership purchased a new position in Chubb during the 3rd quarter worth $29,000. Sierra Ocean LLC acquired a new stake in shares of Chubb during the fourth quarter worth $29,000. Finally, Crowley Wealth Management Inc. acquired a new position in shares of Chubb in the fourth quarter valued at about $29,000. Institutional investors own 83.81% of the company’s stock.

Chubb Trading Up 0.0 %

CB stock opened at $291.52 on Tuesday. Chubb Limited has a 12-month low of $238.85 and a 12-month high of $302.05. The business’s 50-day moving average is $277.16 and its 200 day moving average is $281.22. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a market cap of $116.73 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 3.36 and a beta of 0.66.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. On average, sell-side analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, March 14th. Chubb’s dividend payout ratio is currently 16.02%.

Insiders Place Their Bets

In other news, EVP Joseph F. Wayland sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the sale, the executive vice president now owns 77,703 shares in the company, valued at $22,297,652.88. This trade represents a 11.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy Alan Boroughs sold 14,748 shares of Chubb stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $296.12, for a total value of $4,367,177.76. Following the completion of the sale, the executive vice president now owns 29,194 shares in the company, valued at $8,644,927.28. This represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,470 shares of company stock valued at $18,562,730 over the last ninety days. Company insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CB. Barclays dropped their target price on Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Keefe, Bruyette & Woods increased their price objective on shares of Chubb from $328.00 to $329.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price target on shares of Chubb in a research report on Thursday, January 30th. Finally, HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 price objective for the company in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $301.00.

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.