Chubb Limited (NYSE:CB) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its stake in Chubb Limited (NYSE:CB) by 1.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 212,709 shares of the financial services provider’s stock after selling 4,185 shares during the quarter. Chubb makes up approximately 0.5% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 23rd biggest holding. Teachers Retirement System of The State of Kentucky’s holdings in Chubb were worth $61,343,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Beacon Capital Management LLC grew its stake in Chubb by 76.4% in the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of Chubb by 56.5% during the 3rd quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 35 shares in the last quarter. Kozak & Associates Inc. purchased a new stake in Chubb in the 3rd quarter valued at approximately $29,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Chubb in the third quarter valued at $29,000. Finally, Raelipskie Partnership purchased a new position in shares of Chubb during the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Down 1.0 %

NYSE:CB opened at $274.58 on Wednesday. The firm has a market capitalization of $110.68 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 6.59 and a beta of 0.67. Chubb Limited has a 52 week low of $216.90 and a 52 week high of $302.05. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $286.66 and a 200-day moving average of $276.58.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping 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 firm had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. During the same period last year, the company earned $4.95 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts predict that Chubb Limited will post 21.82 EPS for the current year.

Chubb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a $0.91 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.64 annualized dividend and a yield of 1.33%. Chubb’s dividend payout ratio is presently 14.91%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CB shares. Piper Sandler increased their price objective on shares of Chubb from $281.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Morgan Stanley increased their price target on shares of Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their target price on Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, JMP Securities boosted their price target on Chubb from $300.00 to $325.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $287.37.

Chubb 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.