Teacher Retirement System of Texas Has $22.28 Million Holdings in Chubb Limited (NYSE:CB)

Teacher Retirement System of Texas increased its stake in shares of Chubb Limited (NYSE:CB - Free Report) by 37.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,765 shares of the financial services provider's stock after buying an additional 19,958 shares during the quarter. Teacher Retirement System of Texas' holdings in Chubb were worth $22,276,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CB. Peoples Bank KS bought a new position in Chubb during the 1st quarter worth $25,000. Opal Wealth Advisors LLC acquired a new position in Chubb during the 1st quarter worth $25,000. Crowley Wealth Management Inc. acquired a new position in Chubb during the 4th quarter worth $29,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in 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 worth $34,000 after acquiring an additional 89 shares during the period. Finally, Cherry Tree Wealth Management LLC boosted its position in Chubb by 56.6% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 119 shares of the financial services provider's stock worth $36,000 after acquiring an additional 43 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Trading Up 0.7%

Shares of NYSE CB traded up $1.91 during mid-day trading on Friday, hitting $281.99. 1,523,457 shares of the company traded hands, compared to its average volume of 1,639,089. Chubb Limited has a 1 year low of $251.42 and a 1 year high of $306.91. The stock has a market capitalization of $113.00 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 3.16 and a beta of 0.53. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average of $287.96 and a two-hundred day moving average of $282.09.

Chubb (NYSE:CB - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a return on equity of 12.37% and a net margin of 15.05%. The business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. On average, sell-side analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 15th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.38%. This is an increase from Chubb's previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, June 13th. Chubb's dividend payout ratio is currently 18.67%.

Insider Buying and Selling at Chubb

In related news, COO John W. Keogh sold 9,794 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $292.99, for a total value of $2,869,544.06. Following the completion of the sale, the chief operating officer directly owned 247,538 shares of the company's stock, valued at approximately $72,526,158.62. This represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John J. Lupica sold 5,513 shares of the 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 completion of the sale, the insider directly owned 91,180 shares of the company's stock, valued at approximately $26,447,670.80. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,390 shares of company stock valued at $29,163,135. 0.86% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CB shares. Jefferies Financial Group boosted their price target on Chubb from $307.00 to $308.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Barclays reduced their price target on Chubb from $324.00 to $321.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company boosted their price target on Chubb from $268.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Morgan Stanley boosted their price target on Chubb from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Finally, UBS Group boosted their price target on Chubb from $303.00 to $304.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $307.53.

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.