Retirement Systems of Alabama Sells 2,685 Shares of Chubb Limited (NYSE:CB)

Retirement Systems of Alabama decreased its position in shares of Chubb Limited (NYSE:CB - Free Report) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 220,015 shares of the financial services provider's stock after selling 2,685 shares during the period. Retirement Systems of Alabama owned 0.05% of Chubb worth $66,442,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Chubb by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 36,453,481 shares of the financial services provider's stock worth $10,072,097,000 after buying an additional 271,648 shares during the last quarter. FMR LLC increased its holdings in shares of Chubb by 0.6% during the 4th quarter. FMR LLC now owns 15,668,377 shares of the financial services provider's stock valued at $4,329,173,000 after acquiring an additional 91,892 shares during the last quarter. Capital World Investors raised its stake in shares of Chubb by 1.9% in the 4th quarter. Capital World Investors now owns 11,481,301 shares of the financial services provider's stock valued at $3,172,194,000 after acquiring an additional 212,889 shares in the last quarter. Capital Research Global Investors lifted its holdings in Chubb by 1.5% in the 4th quarter. Capital Research Global Investors now owns 8,893,963 shares of the financial services provider's stock worth $2,457,402,000 after purchasing an additional 131,075 shares during the last quarter. Finally, Demars Financial Group LLC boosted its position in Chubb by 16.4% during the first quarter. Demars Financial Group LLC now owns 6,238,632 shares of the financial services provider's stock worth $1,884,004,000 after purchasing an additional 878,177 shares during the period. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Buying and Selling

In related news, COO John W. Keogh acquired 9,810 shares of the firm's stock in a transaction on Friday, June 6th. The shares were purchased at an average price of $292.99 per share, with a total value of $2,874,231.90. Following the acquisition, the chief operating officer now directly owns 247,538 shares in the company, valued at $72,526,158.62. The trade was a 4.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.77% of the stock is owned by corporate insiders.

Chubb Price Performance

Shares of CB traded up $1.46 during trading hours on Friday, hitting $283.61. The stock had a trading volume of 2,389,071 shares, compared to its average volume of 1,617,447. The company's fifty day moving average is $287.89 and its two-hundred day moving average is $281.59. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 52 week low of $251.42 and a 52 week high of $306.91. The stock has a market capitalization of $113.65 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 3.14 and a beta of 0.54.

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, topping the consensus estimate of $3.28 by $0.40. The firm had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. On average, analysts anticipate that Chubb Limited will post 21.52 EPS for the current year.

Chubb announced that its board has approved a stock buyback plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Chubb's previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.37%. Chubb's dividend payout ratio is 18.67%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CB shares. Morgan Stanley lifted their target price on shares of Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price objective on the stock. in a research note on Tuesday, May 20th. Hsbc Global Res upgraded shares of Chubb from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. raised their price objective on Chubb from $300.00 to $307.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Finally, UBS Group lifted their price target on shares of Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $307.53.

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.