Public Sector Pension Investment Board Decreases Stake in Chubb Limited (NYSE:CB)

Public Sector Pension Investment Board lowered its position in Chubb Limited (NYSE:CB) by 74.9% in the third quarter, Holdings Channel reports. The fund owned 65,567 shares of the financial services provider’s stock after selling 195,214 shares during the period. Public Sector Pension Investment Board’s holdings in Chubb were worth $18,909,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Fiduciary Trust Co lifted its position in shares of Chubb by 2.8% during the 3rd quarter. Fiduciary Trust Co now owns 30,951 shares of the financial services provider’s stock worth $8,926,000 after buying an additional 832 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Chubb by 1.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,931 shares of the financial services provider’s stock worth $49,583,000 after buying an additional 2,567 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of Chubb during the 3rd quarter worth approximately $266,000. Townsquare Capital LLC lifted its position in shares of Chubb by 37.1% during the 3rd quarter. Townsquare Capital LLC now owns 9,274 shares of the financial services provider’s stock worth $2,675,000 after buying an additional 2,511 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. lifted its position in shares of Chubb by 299.6% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 939 shares of the financial services provider’s stock worth $271,000 after buying an additional 704 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CB. Barclays began coverage on shares of Chubb in a report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. Jefferies Financial Group lifted their target price on shares of Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. 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. Keefe, Bruyette & Woods boosted their price objective on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Bank of America boosted their price objective on shares of Chubb from $275.00 to $282.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $287.37.

Insider Buying and Selling at Chubb

In other news, EVP Joseph F. Wayland sold 6,599 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $287.06, for a total transaction of $1,894,308.94. Following the completion of the transaction, the executive vice president now owns 84,101 shares of the company’s stock, valued at $24,142,033.06. This represents a 7.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Evan G. Greenberg sold 30,318 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction 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 represents a 5.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,715 shares of company stock worth $23,803,540. Corporate insiders own 0.86% of the company’s stock.

Chubb Price Performance

Chubb stock opened at $290.34 on Friday. The firm has a market capitalization of $117.04 billion, a PE ratio of 11.89, a P/E/G ratio of 6.68 and a beta of 0.67. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The firm’s 50-day simple moving average is $287.34 and its 200 day simple moving average is $275.26. Chubb Limited has a 52 week low of $216.90 and a 52 week high of $302.05.

Chubb (NYSE:CB) last released its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. The company had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.16 billion. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.95 EPS. On average, equities research analysts predict that Chubb Limited will post 21.77 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.91 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.25%. Chubb’s dividend payout ratio (DPR) is 14.91%.

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.