State of Alaska Department of Revenue Trims Stock Position in Chubb Limited $CB

Key Points

• State of Alaska Department of Revenue trimmed its stake in Chubb by 8.1% in Q4, selling 3,190 shares and leaving it with 36,397 shares valued at about $11.36 million.
• Insiders have been net sellers recently, offloading 44,877 shares over the last three months (≈$14.9 million), including CEO Evan G. Greenberg's sale of 15,060 shares for roughly $4.99 million.
• Chubb topped quarterly EPS expectations ($7.52 vs. $6.33 estimated), while analysts hold a consensus rating of Hold with an average price target of $345.33 despite several recent price-target upgrades.

State of Alaska Department of Revenue lessened its holdings in Chubb Limited (NYSE:CB - Free Report) by 8.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,397 shares of the financial services provider's stock after selling 3,190 shares during the period. State of Alaska Department of Revenue's holdings in Chubb were worth $11,360,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Harbor Capital Advisors Inc. raised its position in shares of Chubb by 93.6% in the third quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider's stock valued at $26,000 after buying an additional 44 shares during the last quarter. Cedar Mountain Advisors LLC raised its position in shares of Chubb by 155.6% in the third quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider's stock valued at $26,000 after buying an additional 56 shares during the last quarter. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Chubb in the third quarter valued at approximately $31,000. Cornerstone Planning Group LLC raised its position in shares of Chubb by 81.5% in the third quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider's stock valued at $33,000 after buying an additional 53 shares during the last quarter. Finally, Heartwood Wealth Advisors LLC acquired a new position in shares of Chubb in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CB shares. Wolfe Research boosted their price objective on shares of Chubb from $372.00 to $373.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. The Goldman Sachs Group boosted their price objective on shares of Chubb from $368.00 to $372.00 and gave the company a "buy" rating in a research report on Tuesday, April 7th. HSBC boosted their price objective on shares of Chubb from $357.00 to $362.00 and gave the company a "buy" rating in a research report on Tuesday, April 7th. BMO Capital Markets boosted their price objective on shares of Chubb from $283.00 to $326.00 and gave the company a "market perform" rating in a research report on Tuesday, February 10th. Finally, Citigroup boosted their price objective on shares of Chubb from $335.00 to $385.00 and gave the company a "buy" rating in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $345.33.

Insider Activity at Chubb

In related news, CEO Evan G. Greenberg sold 15,060 shares of the firm's stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the sale, the chief executive officer directly owned 511,576 shares of the company's stock, valued at approximately $169,572,096.72. This trade represents a 2.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Olivier Steimer sold 2,000 shares of the firm's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $329.30, for a total transaction of $658,600.00. Following the sale, the director directly owned 25,468 shares of the company's stock, valued at approximately $8,386,612.40. The trade was a 7.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 44,877 shares of company stock valued at $14,885,226. Corporate insiders own 0.77% of the company's stock.

Chubb Price Performance

Chubb stock opened at $329.68 on Tuesday. Chubb Limited has a 52-week low of $264.10 and a 52-week high of $345.67. The firm has a fifty day moving average of $328.92 and a 200-day moving average of $307.27. The firm has a market capitalization of $128.65 billion, a P/E ratio of 12.81, a PEG ratio of 1.74 and a beta of 0.49. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20.

Chubb (NYSE:CB - Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.33 by $1.19. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $11.11 billion. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The business's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.02 earnings per share. As a group, analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Friday, March 13th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, March 13th. Chubb's dividend payout ratio (DPR) is presently 15.08%.

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.

Want to see what other hedge funds are holding CB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chubb Limited (NYSE:CB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.