Arizona State Retirement System Buys 619 Shares of Chubb Limited (NYSE:CB)

Arizona State Retirement System lifted its stake in Chubb Limited (NYSE:CB) by 0.5% during the 2nd quarter, Holdings Channel reports. The firm owned 117,698 shares of the financial services provider’s stock after acquiring an additional 619 shares during the period. Arizona State Retirement System’s holdings in Chubb were worth $30,022,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bard Financial Services Inc. boosted its holdings in shares of Chubb by 3.7% during the first quarter. Bard Financial Services Inc. now owns 1,130 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 40 shares during the period. Rossmore Private Capital boosted its stake in shares of Chubb by 1.6% in the fourth quarter. Rossmore Private Capital now owns 2,600 shares of the financial services provider’s stock valued at $588,000 after buying an additional 41 shares during the period. Equitable Trust Co. boosted its stake in shares of Chubb by 1.4% in the first quarter. Equitable Trust Co. now owns 2,986 shares of the financial services provider’s stock valued at $774,000 after buying an additional 41 shares during the period. Quotient Wealth Partners LLC boosted its stake in shares of Chubb by 4.1% in the second quarter. Quotient Wealth Partners LLC now owns 1,051 shares of the financial services provider’s stock valued at $268,000 after buying an additional 41 shares during the period. Finally, Drive Wealth Management LLC boosted its stake in shares of Chubb by 3.6% in the second quarter. Drive Wealth Management LLC now owns 1,183 shares of the financial services provider’s stock valued at $303,000 after buying an additional 41 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Stock Down 0.3 %

Shares of NYSE:CB opened at $286.61 on Friday. The company has a fifty day moving average of $268.26 and a 200-day moving average of $260.44. The company has a market capitalization of $116.38 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 5.59 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. Chubb Limited has a 52-week low of $202.55 and a 52-week high of $293.13.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.34. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. Chubb had a return on equity of 15.77% and a net margin of 18.14%. Chubb’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $4.92 EPS. On average, equities analysts predict that Chubb Limited will post 21.2 EPS for the current fiscal year.

Chubb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.27%. The ex-dividend date is Friday, September 13th. Chubb’s dividend payout ratio is currently 16.16%.

Insider Buying and Selling

In related news, EVP Peter C. Enns sold 8,200 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Chubb news, EVP Peter C. Enns sold 8,200 shares of the stock in a transaction dated Thursday, June 20th. The stock was 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 directly owns 45,853 shares in the company, valued at approximately $12,199,649.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Juan Luis Ortega sold 3,921 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $273.06, for a total value of $1,070,668.26. Following the sale, the executive vice president now owns 44,632 shares of the company’s stock, valued at $12,187,213.92. The disclosure for this sale can be found here. Insiders sold a total of 27,382 shares of company stock valued at $7,609,745 in the last three months. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

CB has been the subject of several recent research reports. William Blair cut Chubb from a “market perform” rating to an “underperform” rating in a research note on Friday, June 28th. Bank of America boosted their price target on Chubb from $257.00 to $264.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Barclays initiated coverage on Chubb in a research note on Wednesday. They issued an “overweight” rating and a $349.00 price target for the company. Keefe, Bruyette & Woods boosted their price objective on shares of Chubb from $304.00 to $305.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada boosted their price objective on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Chubb presently has an average rating of “Hold” and a consensus price target of $274.70.

Chubb 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.