California Public Employees Retirement System Sells 86,385 Shares of Chubb Limited $CB

California Public Employees Retirement System decreased its stake in Chubb Limited (NYSE:CB) by 7.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,141,207 shares of the financial services provider’s stock after selling 86,385 shares during the quarter. California Public Employees Retirement System’s holdings in Chubb were worth $322,106,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC increased its position in shares of Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 221 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in Chubb during the 4th quarter valued at about $205,000. Woodline Partners LP boosted its position in Chubb by 13.0% in the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock valued at $3,805,000 after buying an additional 1,449 shares in the last quarter. Sivia Capital Partners LLC boosted its position in Chubb by 14.4% in the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock valued at $403,000 after buying an additional 175 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Chubb by 259.9% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,165 shares of the financial services provider’s stock worth $1,496,000 after buying an additional 3,730 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Evan G. Greenberg sold 15,060 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total value of $4,991,938.20. Following the completion of the sale, the chief executive officer directly owned 511,576 shares of the company’s stock, valued at $169,572,096.72. This represents a 2.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the sale, the executive vice president owned 11,810 shares in the company, valued at $3,920,683.80. This represents a 70.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Raymond James Financial lifted their target price on shares of Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a research note on Monday, February 9th. HSBC increased their price target on Chubb from $354.00 to $357.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Citigroup lifted their price objective on Chubb from $335.00 to $385.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Cantor Fitzgerald boosted their price objective on Chubb from $300.00 to $309.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Finally, Jefferies Financial Group increased their target price on Chubb from $326.00 to $333.00 and gave the stock a “hold” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chubb currently has a consensus rating of “Hold” and a consensus target price of $340.81.

Chubb Price Performance

Shares of CB stock opened at $329.24 on Friday. The firm has a market cap of $128.45 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 2.06 and a beta of 0.46. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $319.55 and a 200 day moving average price of $299.58.

Chubb (NYSE:CB) last released its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $11.11 billion. During the same period in the prior year, the company posted $6.02 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. Research analysts expect that Chubb Limited will post 21.52 EPS for the current year.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 13th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, March 13th. Chubb’s dividend payout ratio is currently 15.08%.

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.