Chubb Limited $CB Shares Sold by New York State Teachers Retirement System

Key Points

• New York State Teachers Retirement System trimmed its Chubb stake by 4.2%, selling 12,154 shares and leaving 280,652 shares (about $87.6M); overall institutional investors own roughly 83.81% of the stock.
• Significant insider selling: CEO Evan G. Greenberg sold 15,060 shares for ~$4.99M and EVP Timothy Boroughs sold 27,817 shares for ~$9.23M, with insiders disposing of 44,877 shares (~$14.9M) in the past 90 days.
• Analyst outlook is generally positive — a "Moderate Buy" consensus with an average target of $349.33 and multiple firms recently raising targets, while Chubb trades near $327 with a market cap of $126.9B and a P/E of ~11.6.

New York State Teachers Retirement System cut its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 280,652 shares of the financial services provider's stock after selling 12,154 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of Chubb worth $87,597,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Chubb by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider's stock worth $537,000 after buying an additional 221 shares during the period. Revolve Wealth Partners LLC bought a new stake in Chubb during the 4th quarter worth approximately $205,000. Woodline Partners LP raised its position in Chubb by 13.0% in the 1st quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider's stock valued at $3,805,000 after purchasing an additional 1,449 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Chubb by 14.4% in the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider's stock worth $403,000 after purchasing an additional 175 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Chubb by 9.3% during the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider's stock worth $58,305,000 after purchasing an additional 17,155 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Evan G. Greenberg sold 15,060 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the sale, the chief executive officer directly owned 511,576 shares of the company's stock, valued at approximately $169,572,096.72. This represents a 2.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the firm's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the sale, the executive vice president owned 11,810 shares in the company, valued at $3,920,683.80. This trade represents a 70.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 44,877 shares of company stock worth $14,885,226 in the last 90 days. Corporate insiders own 0.37% of the company's stock.

Chubb Price Performance

Shares of CB stock opened at $327.20 on Friday. The firm has a market cap of $126.91 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.67 and a beta of 0.49. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The company has a quick ratio of 0.27, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $329.03 and a 200 day moving average price of $310.95.

Chubb (NYSE:CB - Get Free Report) last issued its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. The company had revenue of $14.93 billion for the quarter. Research analysts expect that Chubb Limited will post 26.68 EPS for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Friday, March 13th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb's dividend payout ratio (DPR) is currently 13.70%.

Analysts Set New Price Targets

CB has been the subject of a number of research analyst reports. Citizens Jmp lifted their price target on Chubb from $350.00 to $365.00 and gave the company a "market outperform" rating in a report on Wednesday, April 22nd. Raymond James Financial increased their price objective on shares of Chubb from $340.00 to $380.00 and gave the stock a "strong-buy" rating in a report on Monday, February 9th. Piper Sandler raised their price objective on shares of Chubb from $319.00 to $328.00 and gave the company a "neutral" rating in a research report on Wednesday, April 22nd. Jefferies Financial Group reduced their target price on shares of Chubb from $356.00 to $352.00 and set a "hold" rating on the stock in a research report on Thursday, April 23rd. Finally, Evercore increased their price target on shares of Chubb from $347.00 to $349.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $349.33.

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.

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.