Public Employees Retirement System of Ohio Cuts Position in Chubb Limited (NYSE:CB)

Public Employees Retirement System of Ohio lowered its position in shares of Chubb Limited (NYSE:CB) by 3.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 178,114 shares of the financial services provider’s stock after selling 7,220 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Chubb were worth $49,213,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CB. Sierra Ocean LLC purchased a new position in shares of Chubb in the 4th quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new position in Chubb in the fourth quarter valued at about $29,000. Strategic Financial Concepts LLC acquired a new position in shares of Chubb during the fourth quarter worth about $30,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Chubb by 254.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 124 shares of the financial services provider’s stock worth $34,000 after buying an additional 89 shares during the period. Finally, Human Investing LLC purchased a new stake in shares of Chubb in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Performance

CB stock opened at $287.10 on Friday. The stock’s 50 day simple moving average is $288.39 and its 200 day simple moving average is $280.99. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The firm has a market cap of $115.05 billion, a P/E ratio of 12.64, a P/E/G ratio of 3.36 and a beta of 0.57. The company has a current ratio of 0.25, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 EPS for the quarter, beating the consensus estimate of $3.28 by $0.40. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $11.22 billion. Chubb had a net margin of 16.63% and a return on equity of 13.75%. As a group, equities research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb announced that its Board of Directors has authorized a stock repurchase plan on Thursday, May 15th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.97 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.35%. Chubb’s dividend payout ratio (DPR) is 18.67%.

Insider Activity at Chubb

In other news, COO John W. Keogh sold 85,083 shares of Chubb stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the sale, the chief operating officer now owns 237,728 shares of the company’s stock, valued at approximately $68,998,174.72. The trade was a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total value of $2,869,600.00. Following the completion of the transaction, the executive vice president now directly owns 77,703 shares of the company’s stock, valued at $22,297,652.88. This trade represents a 11.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,553 shares of company stock worth $43,257,220 in the last 90 days. 0.77% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CB has been the topic of several analyst reports. Piper Sandler raised their target price on Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a report on Tuesday, April 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price objective on shares of Chubb in a research note on Thursday, January 30th. Wells Fargo & Company upped their target price on shares of Chubb from $268.00 to $278.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 price target on shares of Chubb in a research note on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft lowered Chubb from a “buy” rating to a “hold” rating and set a $303.00 target price on the stock. in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.53.

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.