Chubb Limited (NYSE:CB) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in Chubb Limited (NYSE:CB) by 6.6% during the first quarter, HoldingsChannel.com reports. The fund owned 55,154 shares of the financial services provider’s stock after selling 3,880 shares during the period. State of Alaska Department of Revenue’s holdings in Chubb were worth $14,291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. ZRC Wealth Management LLC purchased a new position in shares of Chubb during the fourth quarter valued at $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Chubb in the fourth quarter worth about $29,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Chubb during the 4th quarter worth about $32,000. Northwest Financial Advisors acquired a new position in shares of Chubb during the 4th quarter worth about $33,000. Finally, Naples Money Management LLC acquired a new position in shares of Chubb during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

CB stock opened at $253.77 on Thursday. The business’s fifty day moving average is $259.48 and its 200-day moving average is $249.28. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.21. The company has a market cap of $103.05 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 6.16 and a beta of 0.66. Chubb Limited has a twelve month low of $186.52 and a twelve month high of $275.41.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.41 EPS. Equities research analysts forecast that Chubb Limited will post 21.03 EPS for the current year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.43%. This is an increase from Chubb’s previous quarterly dividend of $0.86. Chubb’s dividend payout ratio is 16.16%.

Insider Activity

In related news, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the sale, the executive vice president now owns 45,853 shares in the company, valued at approximately $12,199,649.18. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, COO John W. Keogh sold 34,707 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total value of $8,745,469.86. Following the completion of the sale, the chief operating officer now owns 284,136 shares in the company, valued at approximately $71,596,589.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Peter C. Enns sold 8,200 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total transaction of $2,181,692.00. Following the completion of the sale, the executive vice president now owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The disclosure for this sale can be found here. Insiders have sold a total of 47,552 shares of company stock valued at $12,149,985 in the last 90 days. 0.86% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CB shares. Roth Mkm restated a “buy” rating and set a $280.00 price target on shares of Chubb in a research note on Wednesday, April 24th. JPMorgan Chase & Co. boosted their price target on Chubb from $253.00 to $266.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. HSBC reiterated a “hold” rating and issued a $270.00 price objective (down from $275.00) on shares of Chubb in a research note on Thursday, April 4th. Piper Sandler reiterated an “overweight” rating and issued a $282.00 price objective on shares of Chubb in a research note on Monday, April 1st. Finally, StockNews.com downgraded Chubb from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Chubb has a consensus rating of “Hold” and a consensus target price of $266.70.

Chubb Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.