New York State Teachers Retirement System Trims Stock Position in Chubb Limited (NYSE:CB)

New York State Teachers Retirement System lessened its position in shares of Chubb Limited (NYSE:CB - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 304,572 shares of the financial services provider's stock after selling 18,673 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Chubb worth $91,978,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Peoples Bank KS purchased a new stake in shares of Chubb during the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Chubb during the 1st quarter valued at approximately $25,000. Crowley Wealth Management Inc. purchased a new stake in shares of Chubb during the 4th quarter valued at approximately $29,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Chubb by 254.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider's stock valued at $34,000 after buying an additional 89 shares during the period. Finally, Cherry Tree Wealth Management LLC raised its position in shares of Chubb by 56.6% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock valued at $36,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insider Buying and Selling

In related news, COO John W. Keogh sold 85,083 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the completion of the transaction, the chief operating officer now owns 237,728 shares in the company, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.86% of the company's stock.

Analysts Set New Price Targets

CB has been the subject of several research reports. Morgan Stanley lifted their target price on shares of Chubb from $280.00 to $300.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Raymond James Financial reiterated a "strong-buy" rating on shares of Chubb in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Chubb from a "buy" rating to a "hold" rating and set a $303.00 target price for the company. in a report on Tuesday, May 20th. Hsbc Global Res upgraded shares of Chubb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company lifted their target price on shares of Chubb from $268.00 to $278.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $307.53.

Chubb Stock Performance

NYSE:CB opened at $285.12 on Monday. The company has a fifty day simple moving average of $287.84 and a two-hundred day simple moving average of $281.81. The company has a market cap of $114.26 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 3.17 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. 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 posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, topping the consensus estimate of $3.28 by $0.40. The business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. As a group, equities analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 15th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, June 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.36%. This is an increase from Chubb's previous quarterly dividend of $0.91. Chubb's payout ratio is presently 18.67%.

Chubb 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.

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