Chubb Limited (NYSE:CB) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in shares of Chubb Limited (NYSE:CB) by 11.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 336,925 shares of the financial services provider’s stock after selling 43,099 shares during the period. New York State Teachers Retirement System’s holdings in Chubb were worth $97,166,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CB. Bard Financial Services Inc. lifted its stake in shares of Chubb by 3.7% in the first quarter. Bard Financial Services Inc. now owns 1,130 shares of the financial services provider’s stock worth $293,000 after buying an additional 40 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Chubb by 0.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock worth $1,917,000 after acquiring an additional 40 shares during the last quarter. Steigerwald Gordon & Koch Inc. boosted its holdings in Chubb by 1.9% during the second quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 40 shares during the period. LVW Advisors LLC grew its position in shares of Chubb by 0.3% in the third quarter. LVW Advisors LLC now owns 11,754 shares of the financial services provider’s stock valued at $3,390,000 after purchasing an additional 40 shares during the last quarter. Finally, Wealth Effects LLC increased its stake in shares of Chubb by 3.0% in the third quarter. Wealth Effects LLC now owns 1,370 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 40 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Chubb Trading Up 0.6 %

Shares of NYSE CB traded up $1.64 during midday trading on Wednesday, hitting $288.84. The stock had a trading volume of 130,669 shares, compared to its average volume of 1,596,700. The firm has a market cap of $117.29 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 5.87 and a beta of 0.66. Chubb Limited has a fifty-two week low of $212.82 and a fifty-two week high of $302.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The company’s 50-day simple moving average is $287.78 and its 200 day simple moving average is $270.23.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.93 by $0.79. The firm had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.16 billion. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $4.95 earnings per share. Research analysts anticipate that Chubb Limited will post 21.32 EPS for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were issued a $0.91 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 1.26%. Chubb’s dividend payout ratio is presently 16.16%.

Analyst Ratings Changes

CB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods raised their target price on Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Morgan Stanley dropped their target price on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised their price objective on Chubb from $290.00 to $291.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Barclays started coverage on shares of Chubb in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price on the stock. Finally, Jefferies Financial Group upped their price objective on Chubb from $294.00 to $295.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus target price of $282.37.

Insider Buying and Selling at Chubb

In related news, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $289.60, for a total transaction of $8,780,092.80. Following the transaction, the chief executive officer now owns 553,664 shares of the company’s stock, valued at $160,341,094.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Evan G. Greenberg sold 30,537 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of Chubb stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $289.60, for a total value of $8,780,092.80. Following the transaction, the chief executive officer now owns 553,664 shares in the company, valued at $160,341,094.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,636 shares of company stock valued at $24,874,208. 0.86% of the stock is currently owned by company insiders.

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.