Nomura Asset Management Co. Ltd. Acquires 12,573 Shares of Chubb Ltd (NYSE:CB)

Share on StockTwits

Nomura Asset Management Co. Ltd. increased its holdings in shares of Chubb Ltd (NYSE:CB) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,073 shares of the financial services provider’s stock after acquiring an additional 12,573 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Chubb were worth $13,635,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WCM Investment Management LLC lifted its holdings in Chubb by 1.3% during the 4th quarter. WCM Investment Management LLC now owns 16,305,450 shares of the financial services provider’s stock worth $2,538,106,000 after buying an additional 214,002 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Chubb by 6.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,659,734 shares of the financial services provider’s stock worth $1,637,347,000 after buying an additional 919,127 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Chubb by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 6,693,371 shares of the financial services provider’s stock worth $1,039,754,000 after buying an additional 257,030 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Chubb by 5.1% during the 1st quarter. JPMorgan Chase & Co. now owns 6,318,646 shares of the financial services provider’s stock worth $705,729,000 after buying an additional 309,291 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Chubb by 3.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,614,106 shares of the financial services provider’s stock worth $515,348,000 after buying an additional 148,654 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

A number of research analysts have recently weighed in on the company. TheStreet downgraded Chubb from a “b” rating to a “c+” rating in a research note on Monday, March 23rd. MKM Partners cut their price target on Chubb from $170.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. JMP Securities cut their price target on Chubb from $175.00 to $165.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 16th. ValuEngine downgraded Chubb from a “hold” rating to a “sell” rating in a research note on Monday, May 4th. Finally, Atlantic Securities raised Chubb from an “underweight” rating to a “neutral” rating and set a $130.00 price target on the stock in a research note on Tuesday, March 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $148.87.

In other news, Director Robert W. Scully acquired 9,750 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average cost of $102.40 per share, with a total value of $998,400.00. Following the completion of the purchase, the director now directly owns 20,723 shares of the company’s stock, valued at approximately $2,122,035.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodore Shasta acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was purchased at an average cost of $99.74 per share, for a total transaction of $199,480.00. Following the completion of the purchase, the director now directly owns 16,375 shares of the company’s stock, valued at $1,633,242.50. The disclosure for this purchase can be found here. Company insiders own 0.37% of the company’s stock.

CB stock traded down $7.96 during mid-day trading on Thursday, hitting $123.02. 118,485 shares of the company were exchanged, compared to its average volume of 2,853,483. The business has a 50 day simple moving average of $112.33 and a 200-day simple moving average of $135.39. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $56.48 billion, a PE ratio of 15.46 and a beta of 0.72. Chubb Ltd has a 1-year low of $87.35 and a 1-year high of $167.74.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.68 earnings per share for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.01). Chubb had a net margin of 10.21% and a return on equity of 8.69%. The business had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.14 billion. During the same quarter in the previous year, the firm posted $2.54 earnings per share. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts expect that Chubb Ltd will post 9.96 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 19th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.54%. This is an increase from Chubb’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, June 18th. Chubb’s payout ratio is presently 29.67%.

Chubb Profile

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; professional lines, marine, construction, environmental, medical, cyber risk, surety, and excess casualty; and group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

Featured Story: What is a Buy-Side Analyst?

Institutional Ownership by Quarter for Chubb (NYSE:CB)

Receive News & Ratings for Chubb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chubb and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply