Arizona State Retirement System cut its holdings in shares of Chubb Limited (NYSE:CB – Free Report) by 5.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,018 shares of the financial services provider’s stock after selling 5,414 shares during the period. Arizona State Retirement System’s holdings in Chubb were worth $33,058,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. IMG Wealth Management Inc. purchased a new stake in Chubb during the 2nd quarter worth approximately $25,000. Dunhill Financial LLC purchased a new position in shares of Chubb during the 2nd quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC grew its position in shares of Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after buying an additional 49 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Chubb during the second quarter worth approximately $26,000. Finally, Highland Investment Advisors LLC bought a new stake in shares of Chubb in the second quarter worth $26,000. Institutional investors and hedge funds own 83.81% of the company’s stock.
Chubb Stock Performance
Shares of NYSE:CB traded down $4.79 during trading on Tuesday, reaching $336.81. 1,617,770 shares of the company’s stock traded hands, compared to its average volume of 1,737,123. The stock has a market capitalization of $129.94 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.37. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The company has a 50 day moving average of $348.24 and a 200-day moving average of $334.58. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.29 and a quick ratio of 0.29.
Chubb Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s payout ratio is currently 14.43%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on CB shares. Keefe, Bruyette & Woods increased their price objective on shares of Chubb from $374.00 to $389.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Weiss Ratings lowered shares of Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, August 27th. Barclays set a $387.00 price target on Chubb in a research note on Tuesday, July 7th. The Goldman Sachs Group upped their price objective on Chubb from $362.00 to $386.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, Evercore reiterated an “outperform” rating and issued a $374.00 target price on shares of Chubb in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $361.00.
View Our Latest Stock Report on CB
Insider Buying and Selling
In other Chubb news, Director Michael P. Connors sold 5,500 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the sale, the director directly owned 12,803 shares in the company, valued at approximately $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joseph Wayland sold 8,502 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the sale, the executive vice president owned 33,749 shares in the company, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company’s stock.
About Chubb
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.
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