Illinois Municipal Retirement Fund Sells 7,932 Shares of Chubb Limited $CB

Key Points

• Illinois Municipal Retirement Fund cut its Chubb stake by 16.0% in the first quarter, selling 7,932 shares and leaving it with 41,654 shares worth about $13.6 million.
• Several analysts updated their views on Chubb, but the overall consensus remains “Hold” with an average price target of $357.73. Recent target increases came from Citizens JMP, Mizuho, JPMorgan, and Wells Fargo.
• Chubb also reported a higher quarterly dividend of $1.02 per share, up from $0.97, while its stock recently traded at $342.66 and the company posted $6.82 in quarterly EPS on $14.93 billion in revenue.

Illinois Municipal Retirement Fund lessened its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 16.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 41,654 shares of the financial services provider's stock after selling 7,932 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Chubb were worth $13,576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CB. Spire Wealth Management lifted its holdings in shares of Chubb by 490.5% during the fourth quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider's stock worth $2,689,000 after buying an additional 7,156 shares in the last quarter. Chesley Taft & Associates LLC grew its stake in shares of Chubb by 7.4% in the fourth quarter. Chesley Taft & Associates LLC now owns 102,427 shares of the financial services provider's stock valued at $31,970,000 after acquiring an additional 7,043 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in shares of Chubb by 42.3% in the fourth quarter. Pallas Capital Advisors LLC now owns 14,243 shares of the financial services provider's stock valued at $4,446,000 after acquiring an additional 4,233 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Chubb by 1.7% during the first quarter. Janney Montgomery Scott LLC now owns 315,893 shares of the financial services provider's stock worth $102,959,000 after acquiring an additional 5,225 shares during the period. Finally, waypoint wealth counsel increased its position in Chubb by 76.4% during the fourth quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider's stock worth $1,285,000 after acquiring an additional 1,784 shares during the period. Institutional investors own 83.81% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CB shares. Citizens Jmp boosted their price objective on shares of Chubb from $365.00 to $400.00 and gave the company a "market outperform" rating in a report on Friday, July 10th. Mizuho lifted their price target on shares of Chubb from $335.00 to $352.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Jefferies Financial Group dropped their price target on shares of Chubb from $356.00 to $352.00 and set a "hold" rating for the company in a research report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their price target on Chubb from $330.00 to $340.00 and gave the company a "neutral" rating in a research note on Monday, April 20th. Finally, Wells Fargo & Company increased their price target on Chubb from $333.00 to $358.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Chubb currently has an average rating of "Hold" and an average target price of $357.73.

Insider Transactions at Chubb

In related news, COO John W. Keogh sold 23,000 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the transaction, the chief operating officer directly owned 203,322 shares in the company, valued at $65,370,056.22. This represents a 10.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Chubb Price Performance

Chubb stock opened at $342.66 on Friday. 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 Limited has a 52 week low of $264.10 and a 52 week high of $365.29. The stock has a market capitalization of $132.90 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.73 and a beta of 0.40. The stock has a fifty day moving average of $331.67 and a 200-day moving average of $325.50.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The firm had revenue of $14.93 billion for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. On average, sell-side analysts expect that Chubb Limited will post 26.76 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were issued a dividend of $1.02 per share. This is a boost from Chubb's previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, June 12th. This represents a $4.08 annualized dividend and a dividend yield of 1.2%. Chubb's payout ratio is presently 14.41%.

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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