Illinois Municipal Retirement Fund boosted its holdings in Chubb Limited (NYSE:CB – Free Report) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,661 shares of the financial services provider’s stock after purchasing an additional 3,441 shares during the period. Illinois Municipal Retirement Fund’s holdings in Chubb were worth $20,706,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new stake in Chubb during the 2nd quarter worth about $25,000. Dunhill Financial LLC acquired a new position in shares of Chubb during the 2nd quarter worth about $25,000. Parvin Asset Management LLC acquired a new position in shares of Chubb during the 2nd quarter worth about $26,000. Highland Investment Advisors LLC bought a new position in shares of Chubb in the 2nd quarter valued at about $26,000. Finally, Frazier Financial Advisors LLC grew its holdings in shares of Chubb by 86.4% in the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.
Chubb Stock Performance
NYSE CB opened at $369.34 on Wednesday. The stock has a market cap of $141.12 billion, a PE ratio of 12.92, a P/E/G ratio of 1.68 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a 50-day moving average of $347.10 and a 200-day moving average of $336.14. Chubb Limited has a 52-week low of $288.39 and a 52-week high of $384.26.
Chubb (NYSE:CB – Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $7.66 EPS for the quarter, beating analysts’ consensus estimates of $6.77 by $0.89. The business had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.66 billion. Chubb had a net margin of 18.15% and a return on equity of 14.41%. During the same quarter in the prior year, the business earned $7.49 EPS. On average, sell-side analysts anticipate that Chubb Limited will post 28.89 EPS for the current year.
Chubb Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 11th. Chubb’s dividend payout ratio (DPR) is presently 14.28%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on CB shares. Atlantic Securities set a $301.00 target price on Chubb in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $354.00 price target on shares of Chubb in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. raised their price target on Chubb from $371.00 to $374.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. Morgan Stanley upped their price objective on Chubb from $350.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 27th. Finally, Keefe, Bruyette & Woods cut their price objective on Chubb from $389.00 to $387.00 and set an “outperform” rating for the company in a report on Monday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $362.78.
Read Our Latest Stock Analysis on CB
Insider Activity at Chubb
In related news, Director Michael Connors sold 5,500 shares of the business’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 completion of the sale, the director directly owned 12,803 shares in the company, valued at $4,417,035. The trade was a 30.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Evan G. Greenberg sold 13,889 shares of the company’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $360.02, for a total value of $5,000,317.78. Following the completion of the transaction, the chief executive officer directly owned 277,274 shares in the company, valued at approximately $99,824,185.48. This represents a 4.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,985 shares of company stock worth $11,748,463 in the last ninety days. 0.37% of the stock is owned by company insiders.
About Chubb
Chubb Limited is a global insurance company that provides property and casualty insurance, accident and health coverage, life insurance, and reinsurance. Its customers include individuals, businesses, and institutions, with products ranging from personal and commercial coverage to specialized insurance solutions. The company serves customers across North America, Europe, Asia-Pacific, Latin America, and other markets. Its operations include underwriting, claims services, and risk management for a broad range of industries and personal insurance needs.
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