South Dakota Investment Council Lowers Stock Holdings in Chubb Limited $CB

South Dakota Investment Council cut its holdings in shares of Chubb Limited (NYSE:CB) by 20.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,714 shares of the financial services provider’s stock after selling 2,220 shares during the period. South Dakota Investment Council’s holdings in Chubb were worth $2,840,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CB. Opal Capital LLC purchased a new stake in Chubb during the 1st quarter worth approximately $1,388,000. Empire Financial Management Company LLC boosted its position in Chubb by 2.8% in the 1st quarter. Empire Financial Management Company LLC now owns 12,983 shares of the financial services provider’s stock valued at $4,232,000 after buying an additional 353 shares during the period. Elite Wealth Management Inc. purchased a new position in Chubb in the 1st quarter valued at approximately $7,981,000. Evelyn Partners Asset Management Ltd grew its stake in shares of Chubb by 3.1% in the first quarter. Evelyn Partners Asset Management Ltd now owns 8,628 shares of the financial services provider’s stock worth $2,812,000 after acquiring an additional 258 shares in the last quarter. Finally, Evelyn Partners Investment Management LLP grew its stake in shares of Chubb by 0.3% in the first quarter. Evelyn Partners Investment Management LLP now owns 265,802 shares of the financial services provider’s stock worth $86,633,000 after acquiring an additional 899 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CB has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on Chubb from $330.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. BMO Capital Markets boosted their target price on Chubb from $326.00 to $339.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. The Goldman Sachs Group upped their price target on Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Evercore reaffirmed an “outperform” rating and issued a $374.00 price target on shares of Chubb in a research report on Friday, July 10th. Finally, Piper Sandler lifted their price objective on Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chubb presently has an average rating of “Hold” and a consensus target price of $360.09.

Chubb Stock Down 3.2%

CB stock opened at $350.31 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.22. Chubb Limited has a twelve month low of $264.10 and a twelve month high of $365.91. The company’s 50 day moving average is $337.87 and its two-hundred day moving average is $328.58. The stock has a market cap of $135.15 billion, a P/E ratio of 12.39, a PEG ratio of 1.79 and a beta of 0.40.

Chubb (NYSE:CB) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.49. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the previous year, the firm earned $6.14 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. Research analysts expect that Chubb Limited will post 27.4 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were paid a dividend of $1.02 per share. The ex-dividend date was Friday, June 12th. This represents a $4.08 annualized dividend and a yield of 1.2%. This is an increase from Chubb’s previous quarterly dividend of $0.97. Chubb’s dividend payout ratio (DPR) is 14.43%.

Insiders Place Their Bets

In related news, EVP Joseph F. Wayland sold 8,502 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total value of $3,099,319.08. Following the completion of the sale, the executive vice president directly owned 33,749 shares of the company’s stock, valued at $12,302,860.46. The trade was a 20.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John W. Keogh sold 23,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the completion of the transaction, the chief operating officer owned 203,322 shares of the company’s stock, valued at $65,370,056.22. This represents a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by insiders.

Chubb Company Profile

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.