New York State Teachers Retirement System Has $82.64 Million Stock Position in Chubb Limited $CB

New York State Teachers Retirement System reduced its holdings in shares of Chubb Limited (NYSE:CB) by 3.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 292,806 shares of the financial services provider’s stock after selling 9,757 shares during the period. New York State Teachers Retirement System’s holdings in Chubb were worth $82,644,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Harbor Capital Advisors Inc. grew its holdings in shares of Chubb by 93.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 44 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Chubb by 155.6% during the third quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock worth $26,000 after buying an additional 56 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of Chubb during the second quarter worth $32,000. Heartwood Wealth Advisors LLC bought a new position in shares of Chubb in the 3rd quarter valued at $34,000. Finally, Maseco LLP acquired a new position in Chubb in the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Buying and Selling

In other news, EVP Timothy Alan Boroughs sold 850 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $295.19, for a total transaction of $250,911.50. Following the completion of the sale, the executive vice president owned 1,585 shares of the company’s stock, valued at $467,876.15. This trade represents a 34.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Joseph F. Wayland sold 5,830 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $297.08, for a total transaction of $1,731,976.40. Following the transaction, the executive vice president owned 60,593 shares in the company, valued at $18,000,968.44. The trade was a 8.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,333 shares of company stock valued at $16,629,873 over the last 90 days. Company insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CB. Bank of America lifted their price target on Chubb from $276.00 to $279.00 and gave the company an “underperform” rating in a research note on Monday, October 13th. JMP Securities reiterated a “market outperform” rating and issued a $325.00 price objective on shares of Chubb in a report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a research report on Monday, November 24th. The Goldman Sachs Group upgraded shares of Chubb from a “neutral” rating to a “buy” rating and upped their price target for the company from $309.00 to $351.00 in a research report on Wednesday. Finally, Barclays raised their price target on shares of Chubb from $317.00 to $339.00 and gave the company an “equal weight” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $318.00.

Chubb Trading Down 2.0%

NYSE:CB opened at $306.75 on Friday. Chubb Limited has a 52 week low of $252.16 and a 52 week high of $316.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. The firm’s fifty day moving average is $301.38 and its 200-day moving average is $285.35. The firm has a market cap of $120.72 billion, a P/E ratio of 12.80, a P/E/G ratio of 3.21 and a beta of 0.51.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. The business had revenue of $16.15 billion during the quarter, compared to the consensus estimate of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. Chubb’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.72 earnings per share. Equities analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were given a dividend of $0.97 per share. The ex-dividend date was Friday, December 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.3%. Chubb’s dividend payout ratio is presently 16.19%.

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.