Employees Retirement System of Texas trimmed its stake in shares of Chubb Ltd (NYSE:CB) by 14.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,800 shares of the financial services provider’s stock after selling 15,400 shares during the period. Employees Retirement System of Texas’ holdings in Chubb were worth $13,122,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Welch Group LLC purchased a new position in Chubb during the fourth quarter valued at $110,000. Covenant Multifamily Offices LLC purchased a new position in shares of Chubb in the 4th quarter worth $135,000. Horan Capital Advisors LLC. purchased a new position in shares of Chubb in the 3rd quarter worth $133,000. Zions Bancorporation grew its stake in shares of Chubb by 716.3% in the 3rd quarter. Zions Bancorporation now owns 1,151 shares of the financial services provider’s stock worth $164,000 after buying an additional 1,010 shares in the last quarter. Finally, Boltwood Capital Management purchased a new position in shares of Chubb in the 4th quarter worth $201,000. 89.16% of the stock is owned by institutional investors.
In related news, insider Juan C. Andrade sold 9,373 shares of Chubb stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $146.06, for a total transaction of $1,369,020.38. Following the completion of the sale, the insider now owns 110,195 shares in the company, valued at approximately $16,095,081.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Evan G. Greenberg sold 95,761 shares of Chubb stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $145.56, for a total transaction of $13,938,971.16. Following the sale, the chief executive officer now owns 1,367,229 shares of the company’s stock, valued at approximately $199,013,853.24. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.
Chubb Ltd (NYSE:CB) traded down $1.18 during trading on Wednesday, hitting $140.76. 1,353,976 shares of the stock traded hands, compared to its average volume of 1,820,507. The company has a market cap of $65,330.00, a price-to-earnings ratio of 15.96, a PEG ratio of 1.33 and a beta of 1.01. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.23. Chubb Ltd has a 12-month low of $133.82 and a 12-month high of $157.50.
Chubb (NYSE:CB) last released its earnings results on Tuesday, January 30th. The financial services provider reported $3.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.86. Chubb had a net margin of 11.87% and a return on equity of 7.52%. The firm had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter last year, the business earned $2.72 EPS. The business’s revenue was up 1.6% on a year-over-year basis. equities analysts forecast that Chubb Ltd will post 10.75 EPS for the current year.
Chubb announced that its board has approved a stock repurchase plan on Thursday, December 21st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 20th. Investors of record on Thursday, March 29th will be issued a dividend of $0.71 per share. The ex-dividend date is Wednesday, March 28th. This represents a $2.84 dividend on an annualized basis and a yield of 2.02%. Chubb’s payout ratio is 32.20%.
CB has been the subject of a number of recent research reports. Wells Fargo & Co set a $169.00 price objective on shares of Chubb and gave the stock a “buy” rating in a research note on Wednesday, November 29th. Goldman Sachs Group initiated coverage on shares of Chubb in a research note on Monday, December 4th. They issued a “buy” rating and a $167.00 price objective for the company. Credit Suisse Group reissued a “neutral” rating and issued a $156.00 price objective on shares of Chubb in a research note on Tuesday, December 19th. Zacks Investment Research raised shares of Chubb from a “hold” rating to a “buy” rating and set a $164.00 price objective for the company in a research note on Wednesday, January 3rd. Finally, Bank of America lifted their price objective on shares of Chubb from $168.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $165.25.
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Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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