New York State Teachers Retirement System Sells 2,009 Shares of Chubb Limited $CB

New York State Teachers Retirement System reduced its position in shares of Chubb Limited (NYSE:CB) by 0.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 302,563 shares of the financial services provider’s stock after selling 2,009 shares during the quarter. New York State Teachers Retirement System’s holdings in Chubb were worth $87,659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CB. GQG Partners LLC raised its stake in shares of Chubb by 112.1% during the first quarter. GQG Partners LLC now owns 9,394,018 shares of the financial services provider’s stock valued at $2,836,899,000 after acquiring an additional 4,964,298 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Chubb by 6.9% during the 1st quarter. Ameriprise Financial Inc. now owns 4,696,682 shares of the financial services provider’s stock valued at $1,418,398,000 after purchasing an additional 304,751 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Chubb by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,784,053 shares of the financial services provider’s stock valued at $840,756,000 after purchasing an additional 30,334 shares during the last quarter. Nuveen LLC purchased a new stake in Chubb in the 1st quarter worth approximately $562,221,000. Finally, AQR Capital Management LLC grew its position in shares of Chubb by 19.6% in the 1st quarter. AQR Capital Management LLC now owns 1,410,449 shares of the financial services provider’s stock worth $423,826,000 after buying an additional 231,404 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In related news, Director Michael Corbat purchased 425 shares of Chubb stock in a transaction dated Friday, July 25th. The stock was purchased at an average cost of $269.80 per share, for a total transaction of $114,665.00. Following the completion of the acquisition, the director directly owned 2,450 shares of the company’s stock, valued at $661,010. The trade was a 20.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CB shares. Hsbc Global Res downgraded Chubb from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Wolfe Research raised shares of Chubb to a “strong-buy” rating in a research report on Tuesday, September 16th. Cantor Fitzgerald upgraded shares of Chubb to a “hold” rating in a report on Wednesday, August 13th. Evercore ISI lifted their target price on shares of Chubb from $312.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chubb has a consensus rating of “Hold” and a consensus target price of $305.28.

Chubb Trading Down 2.1%

Shares of NYSE CB opened at $278.71 on Thursday. The stock has a market cap of $111.12 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 3.20 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 1 year low of $252.16 and a 1 year high of $306.91. The firm has a 50-day moving average of $277.49 and a 200 day moving average of $281.70.

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

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, September 12th. Chubb’s payout ratio is 17.12%.

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.