VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 42,729 Chubb Limited $CB

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Chubb Limited (NYSE:CB) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 42,729 shares of the financial services provider’s stock, valued at approximately $14,559,000.

A number of other institutional investors have also made changes to their positions in the company. IMG Wealth Management Inc. acquired a new stake in Chubb during the 2nd quarter valued at $25,000. Dunhill Financial LLC acquired a new position in Chubb in the 2nd quarter worth $25,000. CBIZ Investment Advisory Services LLC lifted its holdings in Chubb by 148.5% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after buying an additional 49 shares in the last quarter. Parvin Asset Management LLC purchased a new position in Chubb in the 2nd quarter valued at about $26,000. Finally, Highland Investment Advisors LLC purchased a new position in Chubb in the 2nd quarter valued at about $26,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president directly owned 33,749 shares in the company, valued at approximately $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael Connors sold 5,500 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the transaction, the director directly owned 12,803 shares of the company’s stock, valued at $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company’s stock.

Chubb Stock Performance

Shares of CB opened at $341.16 on Tuesday. The firm has a fifty day moving average of $348.24 and a 200-day moving average of $334.58. The company has a market cap of $131.62 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.63 and a beta of 0.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, beating the consensus estimate of $6.77 by $0.49. The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. Chubb’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $6.14 EPS. As a group, equities analysts anticipate that Chubb Limited will post 27.35 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s payout ratio is 14.43%.

Analysts Set New Price Targets

Several analysts have recently weighed in on CB shares. HSBC downgraded Chubb from a “buy” rating to a “hold” rating and raised their target price for the company from $370.00 to $373.00 in a research note on Monday, July 6th. Piper Sandler increased their price target on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. UBS Group raised their price objective on Chubb from $340.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Atlantic Securities set a $301.00 price objective on Chubb in a report on Wednesday, July 15th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $400.00 target price on shares of Chubb in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $361.00.

About Chubb

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.