New York State Teachers Retirement System Sells 9,757 Shares of Chubb Limited $CB
by Teresa Graham · The Cerbat GemNew York State Teachers Retirement System lessened its position in Chubb Limited (NYSE:CB – Free Report) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 292,806 shares of the financial services provider’s stock after selling 9,757 shares during the period. New York State Teachers Retirement System owned about 0.07% of Chubb worth $82,644,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its position in Chubb by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after buying an additional 221 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Chubb during the 4th quarter worth approximately $205,000. Woodline Partners LP boosted its stake in shares of Chubb by 13.0% during the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock worth $3,805,000 after acquiring an additional 1,449 shares during the period. Bayforest Capital Ltd increased its holdings in shares of Chubb by 160.6% during the 1st quarter. Bayforest Capital Ltd now owns 172 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 106 shares during the last quarter. Finally, Advisors Capital Management LLC raised its stake in Chubb by 5.3% in the 1st quarter. Advisors Capital Management LLC now owns 3,823 shares of the financial services provider’s stock valued at $1,155,000 after acquiring an additional 191 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have commented on CB shares. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Chubb in a research report on Wednesday, December 10th. UBS Group raised their target price on shares of Chubb from $292.00 to $298.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Keefe, Bruyette & Woods upped their price target on shares of Chubb from $335.00 to $355.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Citigroup increased their price target on shares of Chubb from $331.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Finally, Bank of America raised their price objective on shares of Chubb from $276.00 to $279.00 and gave the stock an “underperform” rating in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $318.00.
Read Our Latest Stock Report on Chubb
Chubb Stock Performance
NYSE CB opened at $306.75 on Friday. Chubb Limited has a 12-month low of $252.16 and a 12-month high of $316.94. The firm has a 50-day moving average price of $301.38 and a two-hundred day moving average price of $285.35. The company has a market capitalization of $120.72 billion, a P/E ratio of 12.80, a P/E/G ratio of 3.21 and a beta of 0.51. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.
Chubb (NYSE:CB – Get Free Report) last released its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. The company had revenue of $16.15 billion during the quarter, compared to the consensus estimate of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $5.72 earnings per share. Analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.
Chubb Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, December 12th. Chubb’s dividend payout ratio is presently 16.19%.
Insider Transactions at Chubb
In related news, insider John J. Lupica sold 16,375 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $296.45, for a total transaction of $4,854,368.75. Following the completion of the sale, the insider owned 74,225 shares of the company’s stock, valued at $22,004,001.25. This represents a 18.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Timothy Alan Boroughs sold 850 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $295.19, for a total transaction of $250,911.50. Following the sale, the executive vice president owned 1,585 shares in the company, valued at $467,876.15. The trade was a 34.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 57,333 shares of company stock valued at $16,629,873. 0.77% of the stock is owned by corporate insiders.
Chubb Profile
Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.
In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.
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