Public Sector Pension Investment Board Has $29.91 Million Stake in Chubb Limited $CB

Public Sector Pension Investment Board lifted its position in shares of Chubb Limited (NYSE:CB) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,959 shares of the financial services provider’s stock after buying an additional 3,246 shares during the period. Public Sector Pension Investment Board’s holdings in Chubb were worth $29,907,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. boosted its position in Chubb by 93.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 44 shares during the last quarter. Cedar Mountain Advisors LLC raised its holdings in shares of Chubb by 155.6% in the third quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of Chubb in the second quarter worth $32,000. Cornerstone Planning Group LLC boosted its holdings in Chubb by 81.5% during the third quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 53 shares during the last quarter. Finally, Heartwood Wealth Advisors LLC bought a new position in Chubb in the third quarter valued at $34,000. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CB shares. Citigroup increased their price objective on shares of Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday. Piper Sandler increased their price target on Chubb from $283.00 to $319.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Cantor Fitzgerald raised their price target on Chubb from $300.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Keefe, Bruyette & Woods upped their price objective on Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, Mizuho increased their price objective on Chubb from $317.00 to $336.00 and gave the company a “neutral” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $340.09.

Chubb Stock Performance

CB opened at $324.57 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.24 and a debt-to-equity ratio of 0.20. Chubb Limited has a 12-month low of $263.14 and a 12-month high of $335.60. The business has a 50 day moving average of $310.71 and a 200-day moving average of $291.06. The stock has a market cap of $127.73 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 2.12 and a beta of 0.49.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $11.11 billion. During the same period in the previous year, the firm earned $6.02 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts expect that Chubb Limited will post 21.52 earnings per share for the current year.

Chubb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 12th were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. Chubb’s dividend payout ratio is presently 15.08%.

Insider Transactions at Chubb

In related news, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the sale, the chief executive officer owned 511,576 shares of the company’s stock, valued at approximately $169,572,096.72. The trade was a 2.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares in the company, valued at approximately $3,920,683.80. This trade represents a 70.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 54,307 shares of company stock valued at $17,611,016. 0.77% of the stock is currently owned by corporate insiders.

Chubb Company 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.