California State Teachers Retirement System cut its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 541,815 shares of the financial services provider's stock after selling 28,729 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of Chubb worth $184,618,043 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Wedmont Private Capital increased its position in shares of Chubb by 6.7% during the second quarter. Wedmont Private Capital now owns 5,743 shares of the financial services provider's stock valued at $1,997,000 after acquiring an additional 359 shares during the last quarter. Kintra Wealth LLC grew its stake in shares of Chubb by 25.3% during the second quarter. Kintra Wealth LLC now owns 1,359 shares of the financial services provider's stock valued at $468,000 after buying an additional 274 shares during the last quarter. Sovereign Investment Advisors LLC lifted its holdings in shares of Chubb by 12.4% during the 2nd quarter. Sovereign Investment Advisors LLC now owns 907 shares of the financial services provider's stock valued at $310,000 after purchasing an additional 100 shares during the last quarter. Echo45 Advisors LLC boosted its position in Chubb by 7.2% during the second quarter. Echo45 Advisors LLC now owns 959 shares of the financial services provider's stock worth $327,000 after purchasing an additional 64 shares in the last quarter. Finally, Operose Advisors LLC purchased a new position in Chubb during the second quarter worth about $61,000. 83.81% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently issued reports on CB. The Goldman Sachs Group boosted their target price on shares of Chubb from $362.00 to $386.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Wells Fargo & Company reduced their price target on shares of Chubb from $358.00 to $356.00 and set an "equal weight" rating for the company in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $354.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Cantor Fitzgerald increased their target price on shares of Chubb from $318.00 to $337.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and issued a $400.00 price target on shares of Chubb in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $361.00.
Get Our Latest Stock Report on CB
Insider Buying and Selling at Chubb
In other news, Director Michael P. Connors sold 5,500 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph Wayland sold 8,502 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total value of $3,099,319.08. Following the sale, the executive vice president owned 33,749 shares of the company's stock, valued at $12,302,860.46. This represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.37% of the company's stock.
Chubb Price Performance
Shares of Chubb stock traded down $0.67 during trading on Tuesday, hitting $341.18. 378,929 shares of the company were exchanged, compared to its average volume of 1,716,178. Chubb Limited has a fifty-two week low of $265.30 and a fifty-two week high of $365.91. The firm has a 50 day moving average price of $346.69 and a 200 day moving average price of $334.82. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $131.63 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.61 and a beta of 0.37.
Chubb (NYSE:CB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping 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 the consensus estimate of $15.07 billion. During the same quarter in the previous year, the business earned $6.14 EPS. The company's quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities analysts expect that Chubb Limited will post 27.35 earnings per share for the current fiscal year.
Chubb Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb's dividend payout ratio is 14.43%.
About Chubb
(
Free Report)
Chubb Limited is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. The company serves businesses, individuals, and institutional clients, offering coverage for commercial property, liability, marine, cyber risk, workers' compensation, professional lines, personal assets, and other specialty risks.
Chubb distributes its products through brokers, agents, banks, and other business partners. Its commercial insurance operations serve companies ranging from small businesses to multinational corporations, while its personal insurance business provides coverage for homes, automobiles, valuable possessions, and other personal risks.
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