Chubb Limited $CB Shares Purchased by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue doubled its Chubb position in the third quarter, purchasing 35,669 additional shares and bringing its holdings to 71,012 shares valued at approximately $23.1 million. Institutional investors collectively own 83.81% of Chubb.
• Chubb insiders sold shares, including an executive vice president’s $3.1 million sale and a director’s $1.9 million sale. Analysts remain broadly neutral, with an average “Hold” rating and a $358.36 price target.
• Chubb shares recently traded at $354.04, near their 52-week high, while quarterly earnings of $7.26 per share exceeded estimates. The company pays a quarterly dividend of $1.02, equivalent to a 1.2% annual yield.

State of Alaska Department of Revenue grew its position in Chubb Limited (NYSE:CB - Free Report) by 100.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,012 shares of the financial services provider's stock after purchasing an additional 35,669 shares during the period. State of Alaska Department of Revenue's holdings in Chubb were worth $23,097,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CB. IMG Wealth Management Inc. bought a new stake in shares of Chubb during the second quarter valued at approximately $25,000. Dunhill Financial LLC bought a new position in Chubb in the 2nd quarter worth approximately $25,000. Parvin Asset Management LLC bought a new position in Chubb in the 2nd quarter worth approximately $26,000. Highland Investment Advisors LLC bought a new position in Chubb in the 2nd quarter worth approximately $26,000. Finally, Frazier Financial Advisors LLC increased its position in Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 38 shares during the period. Institutional investors own 83.81% of the company's stock.

Insider Activity

In related news, EVP Joseph F. Wayland sold 8,502 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 33,749 shares of the company's stock, valued at $12,302,860.46. This trade represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael Connors sold 5,500 shares of Chubb stock in a transaction dated 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 transaction, the director directly owned 12,803 shares in the company, valued at approximately $4,417,035. The trade was a 30.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Mizuho cut their target price on Chubb from $347.00 to $336.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 7th. Wells Fargo & Company decreased their price target on Chubb from $356.00 to $343.00 and set an "equal weight" rating for the company in a research note on Monday. Evercore reissued an "outperform" rating and set a $374.00 price target on shares of Chubb in a report on Friday, July 10th. Atlantic Securities set a $301.00 price objective on shares of Chubb in a research note on Wednesday, July 15th. Finally, The Goldman Sachs Group lifted their price objective on shares of Chubb from $362.00 to $386.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. One equities 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $358.36.

Chubb Price Performance

NYSE:CB traded up $3.89 during midday trading on Thursday, hitting $354.04. 668,927 shares of the stock were exchanged, compared to its average volume of 1,703,970. Chubb Limited has a one year low of $265.30 and a one year high of $365.91. The company has a market capitalization of $136.59 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 1.52 and a beta of 0.36. The business has a 50-day moving average price of $340.26 and a two-hundred day moving average price of $335.98. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.22.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share 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 firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same period in the prior year, the firm posted $6.14 earnings per share. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts predict that Chubb Limited will post 27.68 EPS for the current year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb's dividend payout ratio (DPR) is currently 14.43%.

Chubb Company Profile

Chubb Limited NYSE: CB is a global insurance company that provides property and casualty, accident and health, life, and reinsurance products and services. Its offerings serve individuals, businesses, multinational corporations, and institutional customers.

The company provides commercial and personal property and casualty coverage, including general liability, commercial property, professional liability, cyber insurance, workers' compensation, homeowners insurance, automobile coverage, and specialty insurance.

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