Kentucky Retirement Systems Increases Stake in Chubb Limited (NYSE:CB)

Kentucky Retirement Systems boosted its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,632 shares of the financial services provider's stock after acquiring an additional 1,817 shares during the quarter. Kentucky Retirement Systems' holdings in Chubb were worth $8,345,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Peoples Bank KS acquired a new position in Chubb in the first quarter valued at $25,000. Opal Wealth Advisors LLC bought a new position in shares of Chubb in the 1st quarter worth about $25,000. Crowley Wealth Management Inc. acquired a new position in shares of Chubb in the 4th quarter valued at about $29,000. Strategic Financial Concepts LLC bought a new stake in shares of Chubb during the 4th quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in Chubb by 254.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock worth $34,000 after purchasing an additional 89 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO John W. Keogh sold 9,794 shares of Chubb stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the transaction, the chief operating officer now owns 247,538 shares in the company, valued at $72,526,158.62. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.86% of the company's stock.

Analyst Upgrades and Downgrades

CB has been the topic of several recent analyst reports. UBS Group boosted their price target on Chubb from $303.00 to $304.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Barclays dropped their target price on shares of Chubb from $324.00 to $321.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Deutsche Bank Aktiengesellschaft cut shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 price target for the company. in a report on Tuesday, May 20th. Raymond James Financial reiterated a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods reduced their target price on Chubb from $316.00 to $314.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $307.53.

Chubb Stock Up 0.6%

Chubb stock traded up $1.65 during midday trading on Monday, hitting $285.47. 466,381 shares of the stock were exchanged, compared to its average volume of 1,728,161. The stock has a market capitalization of $114.40 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 3.16 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The business's 50-day moving average price is $287.89 and its 200-day moving average price is $281.53. Chubb Limited has a 52-week low of $251.42 and a 52-week high of $306.91.

Chubb (NYSE:CB - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping analysts' consensus estimates of $3.28 by $0.40. The company had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $11.22 billion. Chubb had a return on equity of 12.37% and a net margin of 15.05%. On average, research analysts expect that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb announced that its board has initiated a share repurchase program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

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 issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.36%. This is a positive change from Chubb's previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 13th. Chubb's dividend payout ratio is 18.67%.

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.