New York State Common Retirement Fund Has $153.28 Million Stock Position in Chubb Limited (NYSE:CB)

New York State Common Retirement Fund lowered its holdings in shares of Chubb Limited (NYSE:CB) by 18.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 678,238 shares of the financial services provider’s stock after selling 152,364 shares during the period. New York State Common Retirement Fund owned about 0.17% of Chubb worth $153,282,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Deutsche Bank AG grew its position in Chubb by 426.8% during the 3rd quarter. Deutsche Bank AG now owns 16,119,520 shares of the financial services provider’s stock worth $3,355,762,000 after acquiring an additional 13,059,385 shares during the last quarter. Lazard Asset Management LLC grew its position in Chubb by 978.1% during the 3rd quarter. Lazard Asset Management LLC now owns 546,556 shares of the financial services provider’s stock worth $113,781,000 after acquiring an additional 495,860 shares during the last quarter. International Assets Investment Management LLC grew its position in 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 acquiring an additional 482,854 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Chubb by 43.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,107,362 shares of the financial services provider’s stock worth $230,531,000 after acquiring an additional 334,970 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd grew its position in Chubb by 155.8% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 532,015 shares of the financial services provider’s stock worth $120,235,000 after acquiring an additional 324,019 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. TD Cowen assumed coverage on Chubb in a research report on Wednesday, January 10th. They set a “market perform” rating and a $254.00 price objective on the stock. BMO Capital Markets upped their price target on Chubb from $220.00 to $240.00 and gave the company a “market perform” rating in a research report on Monday, February 5th. Citigroup reiterated 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. Piper Sandler reiterated an “overweight” rating and issued a $282.00 price target on shares of Chubb in a research report on Monday, April 1st. Finally, StockNews.com upgraded Chubb from a “hold” rating to a “buy” rating in a research report on Saturday, March 30th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $266.37.

Insider Activity

In other news, CAO Annmarie T. Hagan sold 7,180 shares of Chubb stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.04, for a total value of $1,759,387.20. Following the completion of the transaction, the chief accounting officer now directly owns 6,105 shares in the company, valued at $1,495,969.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Timothy Alan Boroughs sold 14,303 shares of Chubb stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $258.78, for a total transaction of $3,701,330.34. Following the completion of the sale, the executive vice president now owns 35,662 shares of the company’s stock, valued at $9,228,612.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Annmarie T. Hagan sold 7,180 shares of Chubb stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.04, for a total value of $1,759,387.20. Following the sale, the chief accounting officer now directly owns 6,105 shares of the company’s stock, valued at approximately $1,495,969.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,043 shares of company stock worth $29,766,694. 0.86% of the stock is owned by corporate insiders.

Chubb Stock Performance

Shares of NYSE CB traded down $0.31 during mid-day trading on Tuesday, hitting $251.19. The company had a trading volume of 465,917 shares, compared to its average volume of 1,711,210. The company has a market capitalization of $101.98 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 1.17 and a beta of 0.62. Chubb Limited has a 1 year low of $183.71 and a 1 year high of $260.58. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average price is $252.58 and its 200-day moving average price is $234.87.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $8.30 earnings per share for the quarter, beating the consensus estimate of $5.07 by $3.23. The company had revenue of $13.38 billion during the quarter, compared to analysts’ expectations of $12.88 billion. Chubb had a return on equity of 16.45% and a net margin of 18.11%. On average, sell-side analysts forecast that Chubb Limited will post 21.32 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Thursday, March 14th. Chubb’s dividend payout ratio (DPR) is presently 15.76%.

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.