New York State Common Retirement Fund Has $182.84 Million Position in Chubb Limited $CB

New York State Common Retirement Fund lessened its holdings in Chubb Limited (NYSE:CB) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 647,806 shares of the financial services provider’s stock after selling 29,718 shares during the period. New York State Common Retirement Fund owned about 0.16% of Chubb worth $182,843,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Chubb by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 36,738,895 shares of the financial services provider’s stock valued at $10,643,993,000 after purchasing an additional 210,053 shares during the period. Geode Capital Management LLC grew its position in Chubb by 0.3% during the second quarter. Geode Capital Management LLC now owns 8,810,780 shares of the financial services provider’s stock valued at $2,541,771,000 after purchasing an additional 30,721 shares in the last quarter. Bank of America Corp DE increased its stake in Chubb by 11.6% in the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after buying an additional 513,852 shares during the period. Norges Bank purchased a new stake in Chubb in the 2nd quarter worth approximately $1,195,137,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Chubb by 0.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,253,607 shares of the financial services provider’s stock worth $652,915,000 after buying an additional 18,820 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Price Performance

NYSE CB opened at $303.70 on Thursday. Chubb Limited has a 1 year low of $263.14 and a 1 year high of $316.94. The company has a fifty day simple moving average of $304.38 and a 200 day simple moving average of $287.09. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The company has a market cap of $119.52 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.94 and a beta of 0.51.

Chubb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were paid a $0.97 dividend. The ex-dividend date was Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.3%. Chubb’s payout ratio is presently 16.19%.

Insider Buying and Selling

In related news, insider John J. Lupica sold 16,375 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $296.45, for a total transaction of $4,854,368.75. Following the completion of the sale, the insider owned 74,225 shares in the company, valued at $22,004,001.25. This represents a 18.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy Alan Boroughs sold 10,580 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $296.17, for a total value of $3,133,478.60. Following the completion of the sale, the executive vice president directly owned 12,660 shares in the company, valued at $3,749,512.20. This trade represents a 45.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 33,635 shares of company stock valued at $9,970,735. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

CB has been the topic of a number of research reports. Cantor Fitzgerald upped their price target on shares of Chubb from $300.00 to $309.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Hsbc Global Res upgraded Chubb from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Wolfe Research raised their price target on Chubb from $336.00 to $364.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Wells Fargo & Company lifted their price target on Chubb from $293.00 to $305.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Finally, Citigroup restated a “market outperform” rating on shares of Chubb in a report on Friday, January 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $323.81.

Chubb Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.