New Mexico Educational Retirement Board Boosts Position in Chubb Limited (NYSE:CB)

New Mexico Educational Retirement Board grew its position in Chubb Limited (NYSE:CB) by 16.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,037 shares of the financial services provider’s stock after buying an additional 3,500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Chubb were worth $6,488,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in shares of Chubb by 20.5% in the third quarter. Tower Research Capital LLC TRC now owns 14,901 shares of the financial services provider’s stock valued at $3,102,000 after purchasing an additional 2,534 shares during the last quarter. Ancora Advisors LLC increased its position in Chubb by 51.2% during the 3rd quarter. Ancora Advisors LLC now owns 771 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 261 shares in the last quarter. First Dallas Securities Inc. raised its stake in Chubb by 137.9% in the 3rd quarter. First Dallas Securities Inc. now owns 5,130 shares of the financial services provider’s stock valued at $1,068,000 after purchasing an additional 2,974 shares during the last quarter. Waverly Advisors LLC purchased a new position in Chubb in the 3rd quarter valued at about $241,000. Finally, United Services Automobile Association acquired a new stake in shares of Chubb during the 3rd quarter worth about $2,286,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Transactions at Chubb

In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the transaction, the executive vice president now owns 45,853 shares of the company’s stock, valued at $12,199,649.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chubb news, Director Michael G. Atieh sold 716 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $269.70, for a total transaction of $193,105.20. Following the completion of the transaction, the director now directly owns 39,295 shares of the company’s stock, valued at approximately $10,597,861.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the sale, the executive vice president now owns 45,853 shares in the company, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,552 shares of company stock worth $12,149,985. 0.86% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on Chubb from $253.00 to $266.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. William Blair downgraded Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday. Evercore ISI upped their price objective on shares of Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Citigroup reiterated a “neutral” rating and set a $275.00 price objective (up from $238.00) on shares of Chubb in a report on Thursday, March 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $285.00 price target on shares of Chubb in a research report on Friday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $266.70.

Chubb Stock Down 2.7 %

NYSE CB traded down $6.95 during trading hours on Friday, reaching $255.08. 2,794,049 shares of the company traded hands, compared to its average volume of 1,375,378. The stock has a market capitalization of $103.58 billion, a PE ratio of 11.32, a PEG ratio of 6.12 and a beta of 0.66. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12 month low of $183.71 and a 12 month high of $275.41. The company has a 50 day moving average of $259.30 and a two-hundred day moving average of $248.63.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same period in the previous year, the company earned $4.41 earnings per share. Chubb’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities analysts expect that Chubb Limited will post 21.03 earnings per share for the current year.

Chubb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from Chubb’s previous quarterly dividend of $0.86. Chubb’s payout ratio is currently 16.16%.

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.