Chubb Limited $CB Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in Chubb Limited (NYSE:CB) by 26.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 829,916 shares of the financial services provider’s stock after selling 298,832 shares during the quarter. California Public Employees Retirement System’s holdings in Chubb were worth $270,495,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc grew its position in shares of Chubb by 9.3% in the fourth quarter. Berkshire Hathaway Inc now owns 34,249,183 shares of the financial services provider’s stock valued at $10,689,855,000 after purchasing an additional 2,916,288 shares during the period. State Street Corp raised its position in shares of Chubb by 0.4% during the 3rd quarter. State Street Corp now owns 17,045,793 shares of the financial services provider’s stock worth $4,827,852,000 after purchasing an additional 68,553 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Chubb by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,947,799 shares of the financial services provider’s stock valued at $4,665,508,000 after buying an additional 3,049,987 shares in the last quarter. GQG Partners LLC lifted its stake in Chubb by 15.2% in the 4th quarter. GQG Partners LLC now owns 12,481,176 shares of the financial services provider’s stock valued at $3,895,627,000 after buying an additional 1,647,729 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Chubb by 11.6% in the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after buying an additional 513,852 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CB has been the subject of several research reports. Citigroup reiterated an “outperform” rating on shares of Chubb in a research report on Friday, July 10th. Bank of America decreased their price objective on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. UBS Group lifted their target price on shares of Chubb from $340.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. HSBC lowered shares of Chubb from a “buy” rating to a “hold” rating and upped their target price for the stock from $370.00 to $373.00 in a report on Monday, July 6th. Finally, Wolfe Research increased their target price on shares of Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $357.73.

Chubb Stock Performance

Shares of Chubb stock opened at $352.07 on Friday. The business’s 50 day moving average price is $332.32 and its 200 day moving average price is $325.68. The company has a market cap of $136.55 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.78 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a one year low of $264.10 and a one year high of $365.29.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%.The company had revenue of $14.93 billion during the quarter. On average, research analysts predict that Chubb Limited will post 26.75 EPS for the current year.

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were given a dividend of $1.02 per share. The ex-dividend date was Friday, June 12th. This is an increase from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 annualized dividend and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is 14.41%.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the transaction, the chief operating officer directly owned 203,322 shares of the company’s stock, valued at $65,370,056.22. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is owned by company insiders.

Chubb 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.