Recent SEC filings reveal significant shifts in institutional holdings for Chubb Limited, with Jupiter Asset Management notably reducing its stake in the global insurance giant.
According to its latest Form 13F filing, Jupiter Asset Management Ltd. pared down its Chubb Limited shares by 13.7% in the first quarter, divesting 27,806 shares. This move left the fund holding 174,729 shares of the financial services provider, a position valued at a substantial $52,766,000 at the close of the reporting period, reflecting a strategic adjustment in its investment portfolio.
Beyond Jupiter, a multitude of institutional investors have recalibrated their positions in Chubb Limited. New acquisitions were reported by Peoples Bank KS, Opal Wealth Advisors LLC, North Capital Inc., and IMA Advisory Services Inc., each initiating modest stakes. Conversely, Kayne Anderson Rudnick Investment Management LLC demonstrated robust confidence by significantly boosting its Chubb holdings by 254.3% in the preceding quarter, indicating diverse stock market strategies.
Insider activity also presented a mixed picture for Chubb Limited. Director Michael Corbat notably increased his personal investment by purchasing 425 shares, underscoring a belief in the company’s future trajectory. In contrast, insider John J. Lupica executed a substantial sale of 5,513 shares, a transaction publicly disclosed through SEC filings, highlighting the dynamic nature of corporate stock movements.
Chubb Limited demonstrated strong financial performance in its recent quarterly earnings release, surpassing analyst expectations with an reported EPS of $6.14 against a consensus of $5.84. The company also registered robust revenue of $14.20 billion, exceeding estimates and showcasing a healthy 6.3% year-over-year growth, reinforcing its standing in the financial services sector.
In a move signaling confidence in its valuation, Chubb Limited announced a $5.00 billion share repurchase program, allowing the company to reacquire up to 4.3% of its outstanding shares. Furthermore, shareholders benefited from a boosted quarterly dividend, increasing to $0.97 per share, an annualized $3.88, reflecting the company’s commitment to returning value through dividend stocks.
The stock market community’s perspective on Chubb Limited remains varied, with several equities research analysts adjusting their price targets and ratings. While some firms like Raymond James Financial and Keefe, Bruyette & Woods maintained positive outlooks with ‘strong-buy’ and ‘outperform’ ratings respectively, others like Jefferies Financial Group and JPMorgan Chase & Co. issued ‘hold’ or ‘neutral’ ratings, contributing to an average ‘Hold’ rating and an average target price of $301.50 across the board.
Chubb Limited operates as a global provider of insurance and reinsurance products, serving a vast array of clients across its North America Commercial P&C; Insurance segment. Its diverse offerings span commercial property, casualty, workers’ compensation, and specialized risk management, cementing its role as a significant player in the worldwide financial services landscape.
