New York State Common Retirement Fund Cuts Holdings in Chubb Limited (NYSE:CB)

New York State Common Retirement Fund decreased its position in shares of Chubb Limited (NYSE:CB) by 18.3% in the fourth quarter, HoldingsChannel reports. The firm owned 678,238 shares of the financial services provider’s stock after selling 152,364 shares during the quarter. New York State Common Retirement Fund’s holdings in Chubb were worth $153,282,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MCF Advisors LLC lifted its holdings in shares of Chubb by 4.2% in the 4th quarter. MCF Advisors LLC now owns 1,046 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 42 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Chubb by 5.2% in the 4th quarter. AdvisorNet Financial Inc now owns 886 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 44 shares during the last quarter. Valley National Advisers Inc. lifted its stake in Chubb by 0.9% in the fourth quarter. Valley National Advisers Inc. now owns 5,113 shares of the financial services provider’s stock worth $1,155,000 after purchasing an additional 44 shares during the last quarter. Sfmg LLC lifted its stake in Chubb by 3.0% in the fourth quarter. Sfmg LLC now owns 1,533 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 45 shares during the last quarter. Finally, Regent Peak Wealth Advisors LLC lifted its stake in Chubb by 3.9% in the third quarter. Regent Peak Wealth Advisors LLC now owns 1,244 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CB shares. Keefe, Bruyette & Woods raised their price objective on shares of Chubb from $275.00 to $297.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. JMP Securities reissued a “market outperform” rating and issued a $280.00 price objective on shares of Chubb in a research note on Monday, April 15th. Roth Mkm lifted their price target on shares of Chubb from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. HSBC reaffirmed a “hold” rating and set a $270.00 price target (down previously from $275.00) on shares of Chubb in a research note on Thursday, April 4th. Finally, Citigroup reaffirmed a “neutral” rating and set a $275.00 price target (up previously from $238.00) on shares of Chubb in a research note on Thursday, March 14th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Chubb currently has an average rating of “Moderate Buy” and a consensus price target of $266.37.

Chubb Stock Performance

NYSE CB traded down $0.31 on Tuesday, reaching $251.19. 465,917 shares of the company’s stock traded hands, compared to its average volume of 1,711,210. The stock has a 50 day moving average price of $252.58 and a 200-day moving average price of $234.87. The firm has a market cap of $101.98 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 1.17 and a beta of 0.62. Chubb Limited has a fifty-two week low of $183.71 and a fifty-two week high of $260.58. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $8.30 earnings per share for the quarter, topping analysts’ consensus estimates of $5.07 by $3.23. The business had revenue of $13.38 billion during the quarter, compared to the consensus estimate of $12.88 billion. Chubb had a net margin of 18.11% and a return on equity of 16.45%. Equities research analysts predict that Chubb Limited will post 21.32 EPS for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.86 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.37%. Chubb’s dividend payout ratio (DPR) is currently 15.76%.

Insiders Place Their Bets

In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.04, for a total value of $1,759,387.20. Following the completion of the transaction, the chief accounting officer now owns 6,105 shares in the company, valued at $1,495,969.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Annmarie T. Hagan sold 7,180 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the sale, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John J. Lupica sold 34,464 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the sale, the insider now directly owns 130,937 shares of the company’s stock, valued at approximately $33,902,208.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,043 shares of company stock worth $29,766,694. Company insiders own 0.86% of the company’s stock.

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.