Employees Retirement System of Texas Cuts Position in Chubb Limited $CB

Employees Retirement System of Texas cut its stake in Chubb Limited (NYSE:CB) by 39.8% in the 4th quarter, Holdings Channel reports. The fund owned 37,932 shares of the financial services provider’s stock after selling 25,064 shares during the quarter. Employees Retirement System of Texas’ holdings in Chubb were worth $11,839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC grew its position in Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 49 shares in the last quarter. Laurel Wealth Advisors LLC purchased a new stake in Chubb during the fourth quarter valued at about $31,000. Ares Financial Consulting LLC purchased a new stake in Chubb during the fourth quarter valued at about $32,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Chubb during the third quarter valued at about $31,000. Finally, Cornerstone Planning Group LLC boosted its position in Chubb by 81.5% during the third quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock valued at $33,000 after buying an additional 53 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chubb

In related news, Director Olivier Steimer sold 2,000 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $329.30, for a total value of $658,600.00. Following the completion of the transaction, the director directly owned 25,468 shares of the company’s stock, valued at $8,386,612.40. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

CB has been the subject of several analyst reports. The Goldman Sachs Group upped their price target on shares of Chubb from $368.00 to $372.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. UBS Group restated a “neutral” rating and set a $340.00 price target on shares of Chubb in a research report on Monday, February 9th. Roth Mkm upped their price target on shares of Chubb from $330.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods upped their price target on shares of Chubb from $373.00 to $374.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, BMO Capital Markets upped their price target on shares of Chubb from $326.00 to $339.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $349.90.

Chubb Stock Performance

Chubb stock opened at $325.85 on Wednesday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average of $326.39 and a 200-day moving average of $316.68. The firm has a market cap of $126.38 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.68 and a beta of 0.43. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $345.67.

Chubb (NYSE:CB) last posted its earnings results on Tuesday, March 31st. The financial services provider reported $6.82 earnings per share for the quarter. The company had revenue of $14.93 billion during the quarter. Chubb had a net margin of 18.58% and a return on equity of 14.30%. Sell-side analysts expect that Chubb Limited will post 26.78 EPS for the current year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Friday, March 13th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, March 13th. Chubb’s dividend payout ratio is currently 13.70%.

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.