Public Employees Retirement System of Ohio Lowers Stock Position in Chubb Limited $CB

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in Chubb Limited by 8.9% during Q2, now owning 157,113 shares valued at approximately $45.5 million.
• Chubb Limited reported Q2 earnings of $6.14 per share, exceeding estimates, with revenues of $14.2 billion—a 6.3% year-over-year increase.
• Chubb is experiencing mixed analyst ratings, with one strong-buy and five buy ratings, while the stock has a consensus rating of hold with an average target price of $303.06.

Public Employees Retirement System of Ohio cut its holdings in shares of Chubb Limited (NYSE:CB - Free Report) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 157,113 shares of the financial services provider's stock after selling 15,297 shares during the period. Public Employees Retirement System of Ohio's holdings in Chubb were worth $45,519,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CB. E Fund Management Co. Ltd. lifted its holdings in shares of Chubb by 3.9% during the first quarter. E Fund Management Co. Ltd. now owns 964 shares of the financial services provider's stock worth $291,000 after purchasing an additional 36 shares during the period. Rise Advisors LLC lifted its holdings in shares of Chubb by 4.6% during the first quarter. Rise Advisors LLC now owns 841 shares of the financial services provider's stock worth $254,000 after purchasing an additional 37 shares during the period. Sunflower Bank N.A. lifted its holdings in shares of Chubb by 4.4% during the first quarter. Sunflower Bank N.A. now owns 905 shares of the financial services provider's stock worth $273,000 after purchasing an additional 38 shares during the period. Avantax Planning Partners Inc. lifted its holdings in shares of Chubb by 5.1% during the first quarter. Avantax Planning Partners Inc. now owns 783 shares of the financial services provider's stock worth $236,000 after purchasing an additional 38 shares during the period. Finally, Sky Investment Group LLC lifted its holdings in shares of Chubb by 1.6% during the second quarter. Sky Investment Group LLC now owns 2,397 shares of the financial services provider's stock worth $694,000 after purchasing an additional 38 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Chubb from $314.00 to $324.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wolfe Research raised Chubb to a "strong-buy" rating in a report on Tuesday, September 16th. HSBC downgraded Chubb from a "buy" rating to a "hold" rating and reduced their target price for the company from $317.00 to $300.00 in a report on Friday, August 1st. Citigroup initiated coverage on Chubb in a report on Wednesday, August 13th. They issued a "buy" rating and a $326.00 target price for the company. Finally, Hsbc Global Res downgraded Chubb from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chubb currently has a consensus rating of "Hold" and an average target price of $303.06.

Insiders Place Their Bets

In related news, Director Michael Corbat acquired 425 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average price of $269.80 per share, for a total transaction of $114,665.00. Following the transaction, the director owned 2,450 shares in the company, valued at $661,010. This trade represents a 20.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John J. Lupica sold 5,513 shares of Chubb stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $290.06, for a total value of $1,599,100.78. Following the sale, the insider owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.86% of the company's stock.

Chubb Trading Up 1.0%

Shares of CB stock opened at $275.69 on Wednesday. Chubb Limited has a fifty-two week low of $252.16 and a fifty-two week high of $306.91. The stock has a market cap of $109.92 billion, a P/E ratio of 12.16, a P/E/G ratio of 3.08 and a beta of 0.56. The business has a fifty day simple moving average of $273.62 and a 200-day simple moving average of $282.81. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.18.

Chubb (NYSE:CB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts' consensus estimates of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $12.53 billion. During the same quarter last year, the business posted $5.38 earnings per share. The business's revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 12th will be given a $0.97 dividend. The ex-dividend date is Friday, September 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.4%. Chubb's dividend payout ratio (DPR) is currently 17.12%.

About Chubb

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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