Chubb Limited (NYSE:CB) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its position in Chubb Limited (NYSE:CB) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 664,657 shares of the financial services provider’s stock after acquiring an additional 29,811 shares during the period. New York State Common Retirement Fund owned 0.16% of Chubb worth $191,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beacon Capital Management LLC increased its holdings in shares of Chubb by 76.4% in the second quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Pathway Financial Advisers LLC purchased a new stake in Chubb in the first quarter valued at approximately $25,000. Kozak & Associates Inc. purchased a new stake in Chubb in the third quarter valued at approximately $29,000. Chilton Capital Management LLC acquired a new position in Chubb in the 2nd quarter worth approximately $26,000. Finally, Wellington Shields Capital Management LLC purchased a new position in Chubb during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

Shares of CB traded up $1.03 during mid-day trading on Friday, hitting $283.47. 46,987 shares of the company were exchanged, compared to its average volume of 1,598,774. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.35. Chubb Limited has a 1-year low of $215.54 and a 1-year high of $302.05. The stock has a market cap of $114.56 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 5.86 and a beta of 0.66. The company has a 50 day moving average of $288.20 and a 200-day moving average of $270.41.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.16 billion. During the same quarter last year, the business posted $4.95 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts expect that Chubb Limited will post 21.42 EPS for the current fiscal year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were paid a dividend of $0.91 per share. The ex-dividend date was Friday, September 13th. This represents a $3.64 annualized dividend and a yield of 1.28%. Chubb’s dividend payout ratio (DPR) is presently 14.91%.

Insider Transactions at Chubb

In other news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the transaction, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Chubb news, Director Michael G. Atieh sold 261 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $287.49, for a total value of $75,034.89. Following the completion of the sale, the director now directly owns 39,172 shares in the company, valued at $11,261,558.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the transaction, the chief executive officer now owns 553,664 shares in the company, valued at approximately $160,341,094.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,636 shares of company stock valued at $24,874,208 over the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CB. Royal Bank of Canada raised their target price on shares of Chubb from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Piper Sandler lifted their price objective on Chubb from $281.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. upped their target price on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research note on Wednesday. Morgan Stanley lifted their price target on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Roth Mkm boosted their price target on Chubb from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chubb has a consensus rating of “Hold” and a consensus price target of $286.47.

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.