California Public Employees Retirement System Has $322.11 Million Holdings in Chubb Limited $CB
by Scott Moore · The Cerbat GemCalifornia Public Employees Retirement System decreased its position in Chubb Limited (NYSE:CB – Free Report) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,141,207 shares of the financial services provider’s stock after selling 86,385 shares during the quarter. California Public Employees Retirement System owned about 0.29% of Chubb worth $322,106,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Mitchell & Pahl Private Wealth LLC grew its position in Chubb by 0.5% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 7,381 shares of the financial services provider’s stock worth $2,083,000 after acquiring an additional 35 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in Chubb by 7.4% in the third quarter. Golden State Wealth Management LLC now owns 525 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 36 shares in the last quarter. Covestor Ltd increased its position in Chubb by 26.1% during the third quarter. Covestor Ltd now owns 179 shares of the financial services provider’s stock worth $51,000 after buying an additional 37 shares during the last quarter. CENTRAL TRUST Co raised its holdings in Chubb by 1.0% during the third quarter. CENTRAL TRUST Co now owns 3,573 shares of the financial services provider’s stock valued at $1,008,000 after buying an additional 37 shares in the last quarter. Finally, JT Stratford LLC lifted its position in shares of Chubb by 3.5% in the second quarter. JT Stratford LLC now owns 1,127 shares of the financial services provider’s stock worth $327,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.
Insider Transactions at Chubb
In other Chubb news, CEO Evan G. Greenberg sold 15,060 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total value of $4,991,938.20. Following the completion of the transaction, the chief executive officer owned 511,576 shares of the company’s stock, valued at $169,572,096.72. This represents a 2.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares of the company’s stock, valued at $3,920,683.80. The trade was a 70.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is currently owned by corporate insiders.
Chubb Stock Down 0.1%
Shares of CB stock opened at $329.24 on Friday. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The firm has a market cap of $128.45 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 2.06 and a beta of 0.46. The stock has a 50 day moving average of $319.55 and a 200-day moving average of $299.58.
Chubb (NYSE:CB – Get Free Report) last announced its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. The business had revenue of $2.08 billion for 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%. Chubb’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.02 earnings per share. On average, equities analysts predict that Chubb Limited will post 21.52 EPS for the current year.
Chubb Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Friday, March 13th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. Chubb’s dividend payout ratio is currently 15.08%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on CB. Evercore increased their price objective on Chubb from $346.00 to $347.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $366.00 target price on shares of Chubb in a research report on Thursday, February 5th. Wells Fargo & Company increased their price target on Chubb from $305.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Bank of America dropped their price target on shares of Chubb from $279.00 to $259.00 and set an “underperform” rating on the stock in a research report on Friday, January 16th. Finally, Mizuho boosted their price objective on shares of Chubb from $317.00 to $336.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $340.81.
Chubb Company 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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