Retirement Systems of Alabama Sells 2,685 Shares of Chubb Limited (NYSE:CB)

Retirement Systems of Alabama cut its position in shares of Chubb Limited (NYSE:CB) by 1.2% during the 1st quarter, Holdings Channel reports. The firm owned 220,015 shares of the financial services provider’s stock after selling 2,685 shares during the quarter. Retirement Systems of Alabama’s holdings in Chubb were worth $66,442,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. California Public Employees Retirement System grew its stake in Chubb by 1.1% in the 4th quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider’s stock valued at $373,110,000 after purchasing an additional 14,610 shares during the period. Canopy Partners LLC boosted its holdings in shares of Chubb by 94.4% in the 4th quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock worth $1,331,000 after buying an additional 2,340 shares during the last quarter. Vista Investment Partners II LLC bought a new position in Chubb during the fourth quarter valued at about $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Chubb by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider’s stock worth $760,853,000 after buying an additional 366,559 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Chubb during the fourth quarter worth about $1,158,897,000. 83.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of research reports. HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. raised their target price on Chubb from $300.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. Morgan Stanley upped their price target on Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Piper Sandler lifted their price objective on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Chubb in a research note on Thursday, April 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $307.53.

Insider Activity

In related news, COO John W. Keogh acquired 9,810 shares of the business’s stock in a transaction on Friday, June 6th. The stock was acquired at an average cost of $292.99 per share, with a total value of $2,874,231.90. Following the acquisition, the chief operating officer now directly owns 247,538 shares in the company, valued at $72,526,158.62. This represents a 4.13% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.77% of the company’s stock.

Chubb Price Performance

NYSE CB opened at $282.01 on Friday. The stock has a market cap of $113.01 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 3.14 and a beta of 0.54. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91. The company’s 50 day moving average is $287.88 and its two-hundred day moving average is $281.60. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last announced its quarterly earnings data 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 net margin of 15.05% and a return on equity of 12.37%. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. As a group, research analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 dividend on an annualized basis and a yield of 1.38%. Chubb’s dividend payout ratio (DPR) is currently 18.67%.

Chubb declared that its Board of Directors has authorized a share buyback program on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.