Chubb Limited (NYSE:CB) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in Chubb Limited (NYSE:CB) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,154 shares of the financial services provider’s stock after selling 3,880 shares during the quarter. State of Alaska Department of Revenue’s holdings in Chubb were worth $14,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CB. Norges Bank purchased a new position in shares of Chubb during the 4th quarter worth $957,756,000. Confluence Investment Management LLC purchased a new position in shares of Chubb during the 1st quarter worth $165,932,000. Bank of Nova Scotia grew its holdings in shares of Chubb by 198.8% during the 4th quarter. Bank of Nova Scotia now owns 779,345 shares of the financial services provider’s stock worth $176,126,000 after purchasing an additional 518,535 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Chubb by 19,454.2% during the 4th quarter. International Assets Investment Management LLC now owns 485,336 shares of the financial services provider’s stock worth $1,096,860,000 after purchasing an additional 482,854 shares during the period. Finally, Public Employees Retirement Association of Colorado purchased a new position in shares of Chubb during the 4th quarter worth $97,207,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Chubb Trading Down 0.7 %

CB opened at $253.77 on Thursday. The firm has a market cap of $103.05 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 6.16 and a beta of 0.66. Chubb Limited has a 52 week low of $186.52 and a 52 week high of $275.41. The business’s 50 day moving average is $259.48 and its two-hundred day moving average is $249.28. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same quarter in the previous year, the company posted $4.41 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. On average, research analysts predict that Chubb Limited will post 21.03 EPS for the current year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid a $0.91 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, June 14th. Chubb’s dividend payout ratio (DPR) is 16.16%.

Insider Buying and Selling at Chubb

In other Chubb news, COO John W. Keogh sold 34,707 shares of Chubb stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total value of $8,745,469.86. Following the transaction, the chief operating officer now directly owns 284,136 shares in the company, valued at approximately $71,596,589.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Michael G. Atieh sold 716 shares of Chubb stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $269.70, for a total value of $193,105.20. Following the sale, the director now directly owns 39,295 shares in the company, valued at $10,597,861.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO John W. Keogh sold 34,707 shares of Chubb stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total value of $8,745,469.86. Following the completion of the sale, the chief operating officer now owns 284,136 shares in the company, valued at $71,596,589.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,552 shares of company stock worth $12,149,985. 0.86% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CB has been the subject of a number of research analyst reports. HSBC restated a “hold” rating and set a $270.00 target price (down from $275.00) on shares of Chubb in a report on Thursday, April 4th. StockNews.com lowered Chubb from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Evercore ISI increased their price target on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Citigroup reaffirmed a “neutral” rating and issued a $275.00 price target (up previously from $238.00) on shares of Chubb in a research report on Thursday, March 14th. Finally, JPMorgan Chase & Co. increased their price target on Chubb from $253.00 to $266.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $266.70.

Chubb Company 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.