New York State Teachers Retirement System Has $88.55 Million Holdings in Chubb Limited $CB

New York State Teachers Retirement System trimmed its holdings in Chubb Limited (NYSE:CB) by 3.2% in the 1st quarter, Holdings Channel reports. The fund owned 271,683 shares of the financial services provider’s stock after selling 8,969 shares during the quarter. New York State Teachers Retirement System’s holdings in Chubb were worth $88,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CBIZ Investment Advisory Services LLC increased its position 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 worth $26,000 after acquiring an additional 49 shares during the period. Merkkuri Wealth Advisors LLC acquired a new position in Chubb during the 1st quarter valued at $29,000. Laurel Wealth Advisors LLC bought a new stake in Chubb in the 4th quarter valued at $31,000. Ares Financial Consulting LLC bought a new stake in Chubb in the 4th quarter valued at $32,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in Chubb in the 3rd quarter worth $31,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Up 2.6%

CB opened at $360.89 on Friday. The company has a market capitalization of $139.98 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.80 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.28 and a quick ratio of 0.28. The firm’s fifty day moving average price is $326.70 and its two-hundred day moving average price is $322.79. Chubb Limited has a fifty-two week low of $264.10 and a fifty-two week high of $361.33.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share (EPS) for the quarter. The company had revenue of $14.93 billion during the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. On average, analysts anticipate that Chubb Limited will post 26.77 EPS for the current year.

Chubb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were paid a $1.02 dividend. The ex-dividend date of this dividend was 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 1.1%. Chubb’s payout ratio is presently 14.41%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods increased their target price on shares of Chubb from $373.00 to $374.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Bank of America decreased their target price on Chubb from $286.00 to $271.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. JPMorgan Chase & Co. boosted their price target on Chubb from $330.00 to $340.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. Finally, Weiss Ratings raised Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Chubb presently has an average rating of “Moderate Buy” and a consensus target price of $350.24.

Insiders Place Their Bets

In related news, COO John W. Keogh sold 23,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total value of $7,394,730.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by 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.