31,747 Shares in Chubb Limited (NYSE:CB) Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System bought a new position in Chubb Limited (NYSE:CB) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 31,747 shares of the financial services provider’s stock, valued at approximately $7,678,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CB. FORVIS Wealth Advisors LLC boosted its stake in shares of Chubb by 2.8% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 2,533 shares of the financial services provider’s stock worth $656,000 after buying an additional 70 shares during the last quarter. American National Bank & Trust Co. VA purchased a new position in Chubb in the first quarter worth about $764,000. Legacy Wealth Asset Management LLC boosted its position in Chubb by 64.3% in the first quarter. Legacy Wealth Asset Management LLC now owns 5,023 shares of the financial services provider’s stock worth $1,302,000 after purchasing an additional 1,965 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Chubb by 1.4% during the 1st quarter. First Trust Direct Indexing L.P. now owns 13,512 shares of the financial services provider’s stock valued at $3,501,000 after purchasing an additional 190 shares during the period. Finally, Norden Group LLC purchased a new stake in shares of Chubb during the 1st quarter valued at about $1,971,000. Institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In other news, COO John W. Keogh sold 34,707 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total value of $8,745,469.86. Following the sale, the chief operating officer now directly owns 284,136 shares in the company, valued at $71,596,589.28. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, COO John W. Keogh sold 34,707 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 284,136 shares of the company’s stock, valued at approximately $71,596,589.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Annmarie T. Hagan sold 1,529 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $263.81, for a total transaction of $403,365.49. Following the completion of the sale, the chief accounting officer now directly owns 7,718 shares of the company’s stock, valued at $2,036,085.58. The disclosure for this sale can be found here. Insiders sold 47,552 shares of company stock worth $12,149,985 over the last 90 days. Company insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

CB has been the topic of a number of research reports. The Goldman Sachs Group raised their price objective on shares of Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. JMP Securities reissued a “market outperform” rating and set a $280.00 price objective on shares of Chubb in a research report on Monday, April 15th. HSBC reaffirmed a “hold” rating and issued a $270.00 target price (down from $275.00) on shares of Chubb in a report on Thursday, April 4th. William Blair lowered Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. Finally, StockNews.com downgraded Chubb from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chubb has an average rating of “Hold” and an average target price of $266.70.

Chubb Price Performance

CB traded down $1.07 during trading hours on Friday, hitting $253.01. The company’s stock had a trading volume of 111,204 shares, compared to its average volume of 1,659,645. The stock has a market cap of $102.74 billion, a price-to-earnings ratio of 11.28, a P/E/G ratio of 6.13 and a beta of 0.66. The business’s 50-day moving average price is $259.85 and its 200-day moving average price is $249.34. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.21. Chubb Limited has a 12 month low of $186.52 and a 12 month high of $275.41.

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

Chubb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be given a $0.91 dividend. This is a positive change from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, June 14th. Chubb’s dividend payout ratio is 16.16%.

Chubb Company 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.