Oregon Public Employees Retirement Fund Increases Stake in Chubb Limited $CB

Oregon Public Employees Retirement Fund raised its stake in Chubb Limited (NYSE:CB) by 31.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,331 shares of the financial services provider’s stock after acquiring an additional 10,202 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Chubb were worth $11,948,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake 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 increased its holdings in Chubb by 0.3% in 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 buying an additional 30,721 shares in the last quarter. Bank of America Corp DE raised its position in shares of Chubb by 11.6% in the second quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock worth $1,428,278,000 after acquiring an additional 513,852 shares during the period. Norges Bank purchased a new stake in shares of Chubb during the 2nd quarter worth about $1,195,137,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Chubb by 0.8% during 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 acquiring an additional 18,820 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Chubb Stock Down 2.0%

Shares of CB opened at $306.75 on Friday. The stock has a 50 day moving average price of $301.38 and a 200 day moving average price of $285.36. Chubb Limited has a one year low of $252.16 and a one year high of $316.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market capitalization of $120.72 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 3.27 and a beta of 0.51.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $7.49 earnings per share for the quarter, beating analysts’ consensus estimates of $5.51 by $1.98. Chubb had a return on equity of 12.93% and a net margin of 16.53%.The company had revenue of $16.15 billion for the quarter, compared to analyst estimates of $12.95 billion. During the same quarter last year, the firm posted $5.72 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently weighed in on CB. Jefferies Financial Group upped their price target on Chubb from $302.00 to $326.00 and gave the stock a “hold” rating in a report on Tuesday, December 16th. Weiss Ratings restated a “buy (b+)” rating on shares of Chubb in a research report on Monday, December 29th. JPMorgan Chase & Co. increased their target price on Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Cantor Fitzgerald reissued a “neutral” rating on shares of Chubb in a report on Wednesday, December 10th. Finally, Mizuho started coverage on shares of Chubb in a research report on Monday, December 15th. They set a “neutral” rating and a $318.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $318.00.

Insider Activity at Chubb

In other news, insider John J. Lupica sold 16,375 shares of the business’s 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 transaction, the insider directly owned 74,225 shares in the company, valued at $22,004,001.25. The trade was a 18.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy Alan Boroughs sold 850 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $295.19, for a total value of $250,911.50. Following the completion of the sale, the executive vice president owned 1,585 shares of the company’s stock, valued at $467,876.15. This trade represents a 34.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 57,333 shares of company stock valued at $16,629,873. Corporate insiders own 0.77% of the company’s stock.

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.