New York State Teachers Retirement System Trims Stock Holdings in Chubb Limited $CB

New York State Teachers Retirement System lowered its stake in shares of Chubb Limited (NYSE:CB) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 302,563 shares of the financial services provider’s stock after selling 2,009 shares during the period. New York State Teachers Retirement System owned 0.08% of Chubb worth $87,659,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CB. Mutual Advisors LLC lifted its holdings in Chubb by 34.7% during the 2nd quarter. Mutual Advisors LLC now owns 2,977 shares of the financial services provider’s stock worth $801,000 after purchasing an additional 767 shares in the last quarter. Generali Asset Management SPA SGR increased its position in shares of Chubb by 11.8% during the second quarter. Generali Asset Management SPA SGR now owns 27,773 shares of the financial services provider’s stock valued at $8,046,000 after buying an additional 2,934 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Chubb by 13.4% in the second quarter. Ritholtz Wealth Management now owns 8,838 shares of the financial services provider’s stock worth $2,560,000 after buying an additional 1,047 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of Chubb by 1.8% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,927 shares of the financial services provider’s stock worth $1,138,000 after buying an additional 71 shares in the last quarter. Finally, Innova Wealth Partners boosted its position in shares of Chubb by 12.5% in the second quarter. Innova Wealth Partners now owns 748 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 83 shares during the period. 83.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of analyst reports. UBS Group decreased their target price on shares of Chubb from $304.00 to $292.00 and set a “neutral” rating on the stock in a report on Monday, July 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Chubb in a report on Wednesday, October 8th. Hsbc Global Res lowered Chubb from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Cantor Fitzgerald upgraded Chubb to a “hold” rating in a research report on Wednesday, August 13th. Finally, Barclays raised their price target on Chubb from $298.00 to $310.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Chubb currently has a consensus rating of “Hold” and a consensus price target of $305.28.

Insiders Place Their Bets

In other Chubb news, Director Michael Corbat purchased 425 shares of the business’s stock in a transaction on Friday, July 25th. The stock was acquired at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the transaction, the director directly owned 2,450 shares in the company, valued at approximately $661,010. This represents a 20.99% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.77% of the stock is owned by corporate insiders.

Chubb Price Performance

Shares of Chubb stock opened at $278.71 on Thursday. The firm has a market capitalization of $111.12 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 3.20 and a beta of 0.54. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.18. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The business’s 50-day moving average price is $277.49 and its 200-day moving average price is $281.70.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.84 by $0.30. Chubb had a return on equity of 12.34% and a net margin of 16.08%.The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the prior year, the firm earned $5.38 earnings per share. Chubb’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 12th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb’s dividend payout ratio (DPR) is presently 17.12%.

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.