South Dakota Investment Council Cuts Stake in Chubb Limited $CB

South Dakota Investment Council cut its stake in shares of Chubb Limited (NYSE:CB) by 15.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,614 shares of the financial services provider’s stock after selling 2,100 shares during the quarter. South Dakota Investment Council’s holdings in Chubb were worth $3,278,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CB. Harbor Capital Advisors Inc. grew 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 valued at $26,000 after purchasing an additional 44 shares during the last quarter. Cedar Mountain Advisors LLC grew its holdings in shares of Chubb by 155.6% during the third quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. VSM Wealth Advisory LLC purchased a new position in Chubb in the 2nd quarter worth approximately $32,000. Cornerstone Planning Group LLC lifted its position in Chubb by 81.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 53 shares in the last quarter. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of Chubb in the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 1.2%

Shares of CB stock opened at $334.17 on Thursday. Chubb Limited has a 1 year low of $264.10 and a 1 year high of $345.67. The firm has a fifty day moving average price of $317.53 and a 200-day moving average price of $297.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market cap of $130.38 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 2.15 and a beta of 0.46.

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

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Friday, March 13th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.2%. Chubb’s dividend payout ratio (DPR) is 15.08%.

Insider Transactions at Chubb

In other Chubb news, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction that occurred on 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 transaction, the chief executive officer owned 511,576 shares of the company’s stock, valued at $169,572,096.72. The trade was a 2.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of Chubb stock in a transaction on 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 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 SEC filing for this sale provides additional information. 0.77% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on CB shares. Citizens Jmp reaffirmed a “market outperform” rating and set a $350.00 price objective on shares of Chubb in a research report on Wednesday, February 4th. Piper Sandler raised their price target on shares of Chubb from $283.00 to $319.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Morgan Stanley set a $350.00 price objective on shares of Chubb in a report on Friday, January 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Chubb from $303.00 to $304.00 and gave the stock a “hold” rating in a report on Monday, November 24th. Finally, Jefferies Financial Group boosted their target price on shares of Chubb from $326.00 to $333.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $340.81.

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.