State of Michigan Retirement System Reduces Stake in Chubb Limited (NYSE:CB)

State of Michigan Retirement System lowered its holdings in Chubb Limited (NYSE:CB) by 0.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 101,787 shares of the financial services provider’s stock after selling 500 shares during the quarter. State of Michigan Retirement System’s holdings in Chubb were worth $28,124,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Chubb by 57.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 356,602 shares of the financial services provider’s stock valued at $102,840,000 after acquiring an additional 130,629 shares during the last quarter. Czech National Bank increased its holdings in shares of Chubb by 6.2% in the 4th quarter. Czech National Bank now owns 81,282 shares of the financial services provider’s stock valued at $22,458,000 after acquiring an additional 4,757 shares during the last quarter. Barclays PLC increased its holdings in shares of Chubb by 28.1% in the 3rd quarter. Barclays PLC now owns 1,772,688 shares of the financial services provider’s stock valued at $511,226,000 after acquiring an additional 388,746 shares during the last quarter. Moloney Securities Asset Management LLC increased its holdings in shares of Chubb by 97.9% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock valued at $1,111,000 after acquiring an additional 1,905 shares during the last quarter. Finally, Savvy Advisors Inc. purchased a new position in shares of Chubb in the 3rd quarter valued at about $721,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 1.5 %

Chubb stock opened at $289.66 on Tuesday. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $271.30 and a two-hundred day moving average of $279.99. The stock has a market capitalization of $116.76 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 3.36 and a beta of 0.67. Chubb Limited has a twelve month low of $238.85 and a twelve month high of $302.05.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $6.02 EPS for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a return on equity of 13.75% and a net margin of 16.63%. As a group, research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.64 annualized dividend and a dividend yield of 1.26%. Chubb’s dividend payout ratio is currently 16.02%.

Analyst Ratings Changes

A number of research analysts have recently commented on CB shares. Keefe, Bruyette & Woods increased their price objective on Chubb from $328.00 to $329.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Barclays dropped their price target on Chubb from $349.00 to $324.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. JMP Securities restated a “market outperform” rating and set a $325.00 price target on shares of Chubb in a research note on Wednesday, January 29th. Wells Fargo & Company dropped their price target on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of Chubb in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Chubb has a consensus rating of “Hold” and a consensus price target of $295.73.

Chubb Company 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.