Sumitomo Life Insurance Co. Sells 160 Shares of Chubb Limited (NYSE:CB)

Sumitomo Life Insurance Co. lowered its stake in Chubb Limited (NYSE:CB) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,004 shares of the financial services provider’s stock after selling 160 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Chubb were worth $1,659,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC boosted its position in Chubb by 7.3% in the third quarter. FMR LLC now owns 15,576,485 shares of the financial services provider’s stock valued at $4,492,103,000 after buying an additional 1,052,999 shares in the last quarter. Barclays PLC lifted its stake in shares of Chubb by 28.1% in the 3rd quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock valued at $511,226,000 after acquiring an additional 388,746 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Chubb by 49.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,172,267 shares of the financial services provider’s stock valued at $338,070,000 after acquiring an additional 389,343 shares in the last quarter. International Assets Investment Management LLC grew its position in Chubb by 28,885.3% during the 3rd quarter. International Assets Investment Management LLC now owns 935,067 shares of the financial services provider’s stock worth $2,696,640,000 after acquiring an additional 931,841 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Chubb by 0.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 925,622 shares of the financial services provider’s stock worth $266,940,000 after purchasing an additional 7,462 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Price Performance

CB stock opened at $276.05 on Thursday. The company’s 50-day moving average is $275.77 and its 200-day moving average is $279.22. Chubb Limited has a 1 year low of $238.85 and a 1 year high of $302.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market capitalization of $111.27 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 7.23 and a beta of 0.67.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a return on equity of 15.46% and a net margin of 18.32%. Equities research analysts expect that Chubb Limited will post 21.95 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, December 13th. Chubb’s dividend payout ratio (DPR) is 14.91%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CB. Evercore ISI boosted their price target on Chubb from $289.00 to $293.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods upped their price target on shares of Chubb from $320.00 to $328.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. raised their price target on shares of Chubb from $296.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday. Jefferies Financial Group increased their price objective on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Barclays cut their target price on Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $288.39.

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.