Public Employees Retirement System of Ohio Sells 7,220 Shares of Chubb Limited (NYSE:CB)

Public Employees Retirement System of Ohio trimmed its position in shares of Chubb Limited (NYSE:CB - Free Report) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,114 shares of the financial services provider's stock after selling 7,220 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Chubb were worth $49,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CB. Sierra Ocean LLC purchased a new position in Chubb in the fourth quarter worth about $29,000. Crowley Wealth Management Inc. bought a new position in shares of Chubb in the 4th quarter worth approximately $29,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after buying an additional 89 shares during the last quarter. Human Investing LLC bought a new stake in Chubb during the fourth quarter valued at approximately $36,000. Finally, Mainstream Capital Management LLC bought a new stake in Chubb during the fourth quarter valued at approximately $37,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on CB shares. Piper Sandler increased their price target on shares of Chubb from $310.00 to $335.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Wells Fargo & Company raised their target price on Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Barclays cut their price target on Chubb from $324.00 to $321.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Raymond James reaffirmed a "strong-buy" rating on shares of Chubb in a research note on Thursday, April 24th. Finally, Jefferies Financial Group boosted their price objective on Chubb from $307.00 to $308.00 and gave the company a "hold" rating in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Chubb currently has an average rating of "Moderate Buy" and an average price target of $307.53.

Chubb Price Performance

NYSE CB traded down $0.23 on Wednesday, reaching $289.50. The company had a trading volume of 585,065 shares, compared to its average volume of 1,606,868. The stock has a market capitalization of $116.01 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 3.36 and a beta of 0.57. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. The firm's 50 day moving average price is $287.92 and its 200 day moving average price is $281.18.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.40. The firm had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, equities analysts predict that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a $0.97 dividend. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.34%. Chubb's payout ratio is presently 18.67%.

Chubb announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 15th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Joseph F. Wayland sold 12,231 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $294.82, for a total transaction of $3,605,943.42. Following the sale, the executive vice president now owns 78,422 shares in the company, valued at approximately $23,120,374.04. This represents a 13.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO John W. Keogh sold 85,083 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total value of $24,694,489.92. Following the completion of the sale, the chief operating officer now owns 237,728 shares of the company's stock, valued at approximately $68,998,174.72. This represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 148,553 shares of company stock valued at $43,257,220 in the last quarter. 0.86% of the stock is currently owned by insiders.

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.