Public Employees Retirement System of Ohio Makes New Investment in Chubb Limited $CB

Key Points

• Public Employees Retirement System of Ohio acquired 135,533 Chubb shares during the second quarter, valued at approximately $46.2 million. Institutional investors collectively own 83.81% of the insurer.
• Chubb reported quarterly EPS of $7.26, exceeding the $6.77 analyst consensus, while revenue rose 3.6% year over year to $11.97 billion. The company declared a quarterly dividend of $1.02 per share, representing a 1.2% annualized yield.
• Chubb shares opened at $338.19, below the analyst consensus price target of $361.00. Analyst sentiment is mixed, with the stock carrying an average “Hold” rating despite several recent price-target increases.

Public Employees Retirement System of Ohio acquired a new stake in Chubb Limited (NYSE:CB - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 135,533 shares of the financial services provider's stock, valued at approximately $46,182,000.

Several other institutional investors have also added to or reduced their stakes in the business. Dunhill Financial LLC purchased a new stake in shares of Chubb during the second quarter worth $25,000. IMG Wealth Management Inc. purchased a new position in shares of Chubb during the 2nd quarter valued at about $25,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. Parvin Asset Management LLC bought a new position in shares of Chubb during the second quarter valued at about $26,000. Finally, Frazier Financial Advisors LLC boosted its stake in shares of Chubb by 86.4% during the first quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 38 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Stock Down 1.6%

Shares of CB stock opened at $338.19 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29. Chubb Limited has a one year low of $265.30 and a one year high of $365.91. The company's fifty day moving average price is $347.13 and its 200-day moving average price is $333.92. The company has a market capitalization of $130.47 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.67 and a beta of 0.39.

Chubb (NYSE:CB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.77 by $0.49. Chubb had a return on equity of 14.47% and a net margin of 18.10%.The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $15.07 billion. During the same quarter in the prior year, the business posted $6.14 EPS. Chubb's revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts expect that Chubb Limited will post 27.49 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb's dividend payout ratio (DPR) is 14.43%.

Insider Buying and Selling

In related news, Director Michael P. Connors sold 5,500 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $345.00, for a total transaction of $1,897,500.00. Following the completion of the transaction, the director owned 12,803 shares in the company, valued at approximately $4,417,035. This represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph F. Wayland sold 8,502 shares of the company's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the transaction, the executive vice president owned 33,749 shares of the company's stock, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays set a $387.00 price target on Chubb in a research report on Tuesday, July 7th. JPMorgan Chase & Co. upped their target price on Chubb from $340.00 to $370.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Cantor Fitzgerald raised their price target on Chubb from $318.00 to $337.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. The Goldman Sachs Group lifted their price target on shares of Chubb from $362.00 to $386.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Chubb from $374.00 to $389.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chubb currently has an average rating of "Hold" and a consensus price target of $361.00.

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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