Employees Retirement System of Texas Has $11.84 Million Holdings in Chubb Limited $CB

Key Points

• Employees Retirement System of Texas cut its Chubb stake by 39.8% in the fourth quarter, selling 25,064 shares and leaving it with 37,932 shares valued at about $11.84 million.
• Several other institutional investors made modest changes to their Chubb positions, and overall 83.81% of the stock is held by institutions and hedge funds.
• Analysts remain generally positive on Chubb, with an average Moderate Buy rating and a consensus price target of $349.90, while the stock recently traded around $325.85 and the company also pays a quarterly dividend of $0.97 per share.

Employees Retirement System of Texas trimmed its stake in Chubb Limited (NYSE:CB - Free Report) by 39.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,932 shares of the financial services provider's stock after selling 25,064 shares during the period. Employees Retirement System of Texas' holdings in Chubb were worth $11,839,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Kathmere Capital Management LLC boosted its stake in Chubb by 2.7% during the 4th quarter. Kathmere Capital Management LLC now owns 1,297 shares of the financial services provider's stock valued at $405,000 after purchasing an additional 34 shares during the last quarter. Wright Investors Service Inc. boosted its stake in shares of Chubb by 0.7% in the 4th quarter. Wright Investors Service Inc. now owns 4,927 shares of the financial services provider's stock worth $1,538,000 after buying an additional 34 shares during the last quarter. G&S Capital LLC boosted its stake in shares of Chubb by 1.5% in the 4th quarter. G&S Capital LLC now owns 2,271 shares of the financial services provider's stock worth $709,000 after buying an additional 34 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Chubb by 7.4% in the third quarter. Golden State Wealth Management LLC now owns 525 shares of the financial services provider's stock valued at $148,000 after purchasing an additional 36 shares during the last quarter. Finally, Phoenix Wealth Advisors lifted its stake in Chubb by 0.4% in the fourth quarter. Phoenix Wealth Advisors now owns 8,467 shares of the financial services provider's stock valued at $2,643,000 after purchasing an additional 36 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chubb

In other news, Director Olivier Steimer sold 2,000 shares of the company's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the transaction, the director owned 25,468 shares of the company's stock, valued at approximately $8,386,612.40. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CB shares. Wolfe Research upped their price objective on Chubb from $372.00 to $373.00 and gave the company an "outperform" rating in a research note on Monday, April 6th. Wells Fargo & Company boosted their target price on shares of Chubb from $321.00 to $333.00 and gave the company an "equal weight" rating in a report on Thursday, April 23rd. Citizens Jmp boosted their target price on shares of Chubb from $350.00 to $365.00 and gave the company a "market outperform" rating in a report on Wednesday, April 22nd. Roth Mkm boosted their target price on shares of Chubb from $330.00 to $360.00 and gave the company a "buy" rating in a report on Wednesday, February 4th. Finally, Mizuho lowered their target price on shares of Chubb from $336.00 to $335.00 and set a "neutral" rating on the stock in a report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $349.90.

Chubb Trading Down 0.6%

Chubb stock opened at $325.85 on Wednesday. The stock has a market cap of $126.38 billion, a P/E ratio of 11.51, a PEG ratio of 1.68 and a beta of 0.43. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $345.67. The firm's fifty day moving average price is $326.39 and its 200-day moving average price is $316.68. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The firm had revenue of $14.93 billion for the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. Equities research analysts forecast that Chubb Limited will post 26.78 earnings per share for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Friday, March 13th were issued a $0.97 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. Chubb's dividend payout ratio is presently 13.70%.

Chubb 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.

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