Chubb Limited (NYSE:CB) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its stake in Chubb Limited (NYSE:CB) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,599 shares of the financial services provider’s stock after selling 178 shares during the period. Kentucky Retirement Systems’ holdings in Chubb were worth $7,805,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CB. Beacon Capital Management LLC increased its position in shares of Chubb by 76.4% in the 2nd quarter. Beacon Capital Management LLC now owns 97 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Pathway Financial Advisers LLC purchased a new position in Chubb in the first quarter valued at $25,000. Chilton Capital Management LLC acquired a new stake in Chubb in the second quarter valued at $26,000. Wellington Shields Capital Management LLC purchased a new stake in Chubb during the 1st quarter worth about $29,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Chubb during the 4th quarter worth about $29,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CB. Keefe, Bruyette & Woods raised their target price on Chubb from $304.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Morgan Stanley cut their price objective on shares of Chubb from $260.00 to $259.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada increased their target price on shares of Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. JMP Securities boosted their price target on shares of Chubb from $280.00 to $300.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 24th. Finally, Bank of America raised their price objective on Chubb from $257.00 to $264.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $274.70.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 30,318 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the completion of the sale, the chief executive officer now directly owns 553,664 shares of the company’s stock, valued at approximately $160,341,094.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Juan Luis Ortega sold 3,921 shares of Chubb stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total transaction of $1,070,668.26. Following the completion of the sale, the executive vice president now directly owns 44,632 shares in the company, valued at approximately $12,187,213.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Evan G. Greenberg sold 30,318 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $289.60, for a total value of $8,780,092.80. Following the sale, the chief executive officer now directly owns 553,664 shares in the company, valued at approximately $160,341,094.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,636 shares of company stock worth $24,874,208. Company insiders own 0.86% of the company’s stock.

Chubb Price Performance

Shares of NYSE CB opened at $289.16 on Thursday. The stock has a fifty day moving average price of $274.57 and a 200 day moving average price of $262.77. Chubb Limited has a 1-year low of $204.15 and a 1-year high of $294.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $117.42 billion, a PE ratio of 12.83, a P/E/G ratio of 5.59 and a beta of 0.66.

Chubb (NYSE:CB) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 EPS for the quarter, topping the consensus estimate of $5.04 by $0.34. Chubb had a net margin of 18.14% and a return on equity of 15.77%. The company had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.04 billion. During the same quarter last year, the business earned $4.92 EPS. The business’s revenue was up 11.8% on a year-over-year basis. Sell-side analysts forecast that Chubb Limited will post 21.2 EPS for the current year.

Chubb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Friday, September 13th. Chubb’s dividend payout ratio is presently 16.16%.

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.