Teacher Retirement System of Texas Reduces Position in Chubb Limited $CB

Teacher Retirement System of Texas trimmed its holdings in shares of Chubb Limited (NYSE:CB) by 9.6% during the second quarter, Holdings Channel reports. The fund owned 66,705 shares of the financial services provider’s stock after selling 7,060 shares during the quarter. Teacher Retirement System of Texas’ holdings in Chubb were worth $19,326,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. North Capital Inc. acquired a new position in Chubb in the first quarter worth about $26,000. IMA Advisory Services Inc. acquired a new position in Chubb in the first quarter worth about $31,000. 1248 Management LLC acquired a new position in Chubb in the first quarter worth about $31,000. WPG Advisers LLC acquired a new position in Chubb in the first quarter worth about $33,000. Finally, Maseco LLP acquired a new position in Chubb in the second quarter worth about $35,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Chubb Trading Down 2.2%

Chubb stock opened at $275.39 on Wednesday. The company’s fifty day simple moving average is $277.85 and its 200-day simple moving average is $280.81. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 0.18. Chubb Limited has a 12 month low of $252.16 and a 12 month high of $306.91. The stock has a market cap of $109.80 billion, a P/E ratio of 11.49, a P/E/G ratio of 2.79 and a beta of 0.54.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.51 by $1.98. The firm had revenue of $14.87 billion during the quarter, compared to analysts’ expectations of $12.95 billion. Chubb had a net margin of 16.53% and a return on equity of 12.93%. Chubb’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $5.72 earnings per share. As a group, sell-side analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 12th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, September 12th. Chubb’s dividend payout ratio is 16.19%.

Analysts Set New Price Targets

CB has been the subject of a number of research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $309.00 target price on shares of Chubb in a research note on Monday. UBS Group lifted their price target on Chubb from $292.00 to $298.00 and gave the company a “neutral” rating in a report on Monday. Keefe, Bruyette & Woods boosted their target price on Chubb from $333.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Wolfe Research boosted their target price on Chubb from $320.00 to $336.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Finally, BMO Capital Markets reissued a “market perform” rating and set a $283.00 target price on shares of Chubb in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $307.58.

Chubb 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.