Louisiana State Employees Retirement System Acquires Shares of 18,500 Chubb Limited $CB

Key Points

• Louisiana State Employees Retirement System bought 18,500 shares of Chubb in the first quarter, a position worth about $6.03 million. The filing comes amid broader institutional interest, with 83.81% of Chubb’s stock owned by institutions.
• Chubb shares were up 3.1% and recently opened at $341.19, near its 52-week high of $345.67. The company now has a market cap of about $132.33 billion and a low beta of 0.41.
• Chubb raised its quarterly dividend to $1.02 per share from $0.97, payable July 2, which annualizes to a 1.2% yield. Analysts currently have a Hold consensus on the stock, with an average target price of $349.10.

Louisiana State Employees Retirement System bought a new stake in shares of Chubb Limited (NYSE:CB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,500 shares of the financial services provider's stock, valued at approximately $6,030,000.

A number of other hedge funds also recently made changes to their positions in the business. Spire Wealth Management grew its stake in shares of Chubb by 490.5% during the 4th quarter. Spire Wealth Management now owns 8,615 shares of the financial services provider's stock worth $2,689,000 after acquiring an additional 7,156 shares during the period. Chesley Taft & Associates LLC raised its stake in Chubb by 7.4% in the 4th 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 during the period. Pallas Capital Advisors LLC lifted its holdings in Chubb by 42.3% during 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 purchasing an additional 4,233 shares during the last quarter. waypoint wealth counsel lifted its holdings in Chubb by 76.4% during the fourth quarter. waypoint wealth counsel now owns 4,118 shares of the financial services provider's stock valued at $1,285,000 after purchasing an additional 1,784 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in Chubb by 884.1% during the fourth quarter. Harbour Investments Inc. now owns 9,959 shares of the financial services provider's stock worth $3,108,000 after purchasing an additional 8,947 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Up 3.1%

CB opened at $341.19 on Friday. The firm has a market capitalization of $132.33 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.69 and a beta of 0.41. Chubb Limited has a one year low of $264.10 and a one year high of $345.67. The company has a fifty day moving average price of $325.13 and a 200-day moving average price of $321.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The company had revenue of $14.93 billion for the quarter. Equities research analysts expect that Chubb Limited will post 26.8 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be given a dividend of $1.02 per share. This is a boost from Chubb's previous quarterly dividend of $0.97. The ex-dividend date is Friday, June 12th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. Chubb's dividend payout ratio is 14.41%.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 23,000 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was 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 owned 203,322 shares of the company's stock, valued at approximately $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.37% of the company's stock.

Analysts Set New Price Targets

CB has been the subject of several recent research reports. Jefferies Financial Group reduced their target price on shares of Chubb from $356.00 to $352.00 and set a "hold" rating for the company in a research note on Thursday, April 23rd. Piper Sandler raised their price objective on shares of Chubb from $328.00 to $340.00 and gave the stock a "neutral" rating in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Chubb from $304.00 to $330.00 and gave the company a "hold" rating in a research note on Monday, March 23rd. Wolfe Research increased their target price on Chubb from $372.00 to $373.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Finally, Mizuho cut their price target on Chubb from $336.00 to $335.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $349.10.

About Chubb

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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