Chubb Limited $CB Position Reduced by State of Wisconsin Investment Board

State of Wisconsin Investment Board cut its position in shares of Chubb Limited (NYSE:CB) by 3.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 199,466 shares of the financial services provider’s stock after selling 7,156 shares during the period. State of Wisconsin Investment Board’s holdings in Chubb were worth $62,257,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC lifted its stake in Chubb by 148.5% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock valued at $26,000 after buying an additional 49 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Chubb in the 3rd quarter valued at about $31,000. Laurel Wealth Advisors LLC acquired a new position in shares of Chubb in the 4th quarter valued at about $31,000. Ares Financial Consulting LLC acquired a new position in shares of Chubb in the 4th quarter valued at about $32,000. Finally, Cherry Tree Wealth Management LLC increased its holdings in shares of Chubb by 38.3% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 112 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 31 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CB has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upped their target price on Chubb from $304.00 to $330.00 and gave the company a “hold” rating in a report on Monday, March 23rd. Wolfe Research upped their target price on Chubb from $372.00 to $373.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Citizens Jmp upped their target price on Chubb from $350.00 to $365.00 and gave the company a “market outperform” rating in a report on Wednesday, April 22nd. Piper Sandler upped their target price on Chubb from $328.00 to $340.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Finally, Bank of America dropped their target price on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $349.10.

Chubb Stock Up 0.6%

Shares of Chubb stock opened at $328.89 on Wednesday. The stock has a market capitalization of $127.56 billion, a P/E ratio of 11.61, a PEG ratio of 1.67 and a beta of 0.41. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average price of $324.90 and a two-hundred day moving average price of $319.53. Chubb Limited has a 12-month low of $264.10 and a 12-month high of $345.67.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The firm had revenue of $14.93 billion during the quarter. Chubb had a return on equity of 14.30% and a net margin of 18.58%. Equities analysts expect that Chubb Limited will post 26.8 earnings per share for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, June 12th. This is an increase from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is currently 14.41%.

Insider Buying and Selling

In other Chubb news, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the sale, the chief operating officer owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Olivier Steimer sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $329.30, for a total value of $658,600.00. Following the sale, the director directly owned 25,468 shares of the company’s stock, valued at $8,386,612.40. The trade was a 7.28% decrease in their position. The SEC filing for this sale provides additional information. 0.37% of the stock is owned by corporate insiders.

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.