California State Teachers Retirement System Buys 184,047,499 Shares of Chubb Limited $CB

Key Points

• California State Teachers Retirement System increased its Chubb stake by 32,258.2% to 184.6 million shares, representing approximately 47.85% of the insurer and a reported value of $62.9 billion. Institutional investors collectively own 83.81% of Chubb.
• Chubb reported quarterly EPS of $7.26, beating analyst estimates of $6.77, while revenue rose 3.6% year over year to $11.97 billion. The company declared a quarterly dividend of $1.02, equivalent to a 1.2% annual yield.
• Analysts maintain a generally neutral view, with an average rating of “Hold” and an average price target of $361.00, compared with the stock’s recent price of $341.16.

California State Teachers Retirement System boosted its stake in Chubb Limited (NYSE:CB - Free Report) by 32,258.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 184,618,043 shares of the financial services provider's stock after buying an additional 184,047,499 shares during the quarter. California State Teachers Retirement System owned approximately 47.85% of Chubb worth $62,906,752,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CB. XXEC Inc. bought a new position in shares of Chubb during the 2nd quarter valued at approximately $228,226,000. Berkshire Hathaway Inc bought a new stake in shares of Chubb in the 2nd quarter worth approximately $11,670,067,000. BlackRock Inc. purchased a new position in Chubb in the second quarter valued at approximately $9,913,336,000. GQG Partners LLC purchased a new position in Chubb in the second quarter valued at approximately $4,250,113,000. Finally, Bank of America Corp DE bought a new position in Chubb during the second quarter valued at $1,545,084,000. 83.81% of the stock is currently owned by institutional investors.

Insider Transactions at Chubb

In related news, Director Michael Connors sold 5,500 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the sale, the director owned 12,803 shares of the company's stock, valued at approximately $4,417,035. This represents a 30.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the sale, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. This represents a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.37% of the company's stock.

Chubb Price Performance

Chubb stock opened at $341.16 on Monday. The firm has a market capitalization of $131.62 billion, a P/E ratio of 12.07, a PEG ratio of 1.63 and a beta of 0.37. Chubb Limited has a one year low of $265.30 and a one year high of $365.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. The business has a fifty day moving average price of $348.27 and a 200-day moving average price of $334.52.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same period in the previous year, the company posted $6.14 EPS. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Chubb Limited will post 27.35 EPS for the current year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb's dividend payout ratio is presently 14.43%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CB shares. JPMorgan Chase & Co. boosted their target price on Chubb from $340.00 to $370.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $354.00 price objective on shares of Chubb in a report on Wednesday, July 22nd. Cantor Fitzgerald boosted their price objective on Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. UBS Group upped their price objective on shares of Chubb from $340.00 to $369.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company cut their target price on shares of Chubb from $358.00 to $356.00 and set an "equal weight" rating for the company in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Chubb has an average rating of "Hold" and an average target price of $361.00.

Chubb Company 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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