California State Teachers Retirement System Sells 21,742 Shares of Chubb Limited $CB

California State Teachers Retirement System lowered its stake in shares of Chubb Limited (NYSE:CB) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 570,544 shares of the financial services provider’s stock after selling 21,742 shares during the period. California State Teachers Retirement System owned 0.15% of Chubb worth $185,957,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Elite Wealth Management Inc. purchased a new position in Chubb during the 1st quarter valued at about $7,981,000. Evelyn Partners Asset Management Ltd increased its position in shares of Chubb by 3.1% during the first quarter. Evelyn Partners Asset Management Ltd now owns 8,628 shares of the financial services provider’s stock valued at $2,812,000 after buying an additional 258 shares during the period. Evelyn Partners Investment Management LLP increased its position in shares of Chubb by 0.3% during the first quarter. Evelyn Partners Investment Management LLP now owns 265,802 shares of the financial services provider’s stock valued at $86,633,000 after buying an additional 899 shares during the period. Evelyn Partners Investment Management Services Ltd lifted its holdings in shares of Chubb by 4.1% in the first quarter. Evelyn Partners Investment Management Services Ltd now owns 70,285 shares of the financial services provider’s stock worth $22,908,000 after buying an additional 2,786 shares in the last quarter. Finally, KCM Investment Advisors LLC lifted its holdings in shares of Chubb by 1.2% in the first quarter. KCM Investment Advisors LLC now owns 16,713 shares of the financial services provider’s stock worth $5,447,000 after buying an additional 198 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on CB shares. Bank of America reduced their price objective on shares of Chubb from $286.00 to $271.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. Cantor Fitzgerald increased their target price on shares of Chubb from $318.00 to $337.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Citigroup reissued a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. Barclays set a $387.00 price target on shares of Chubb in a research report on Tuesday, July 7th. Finally, Mizuho upped their price target on shares of Chubb from $335.00 to $352.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Chubb currently has an average rating of “Hold” and an average price target of $360.09.

Chubb Trading Up 1.4%

Shares of CB opened at $363.94 on Wednesday. Chubb Limited has a 1-year low of $264.10 and a 1-year high of $365.29. The company has a market capitalization of $141.16 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.79 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.36 and a quick ratio of 0.28. The firm’s 50 day simple moving average is $336.80 and its 200 day simple moving average is $327.92.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, topping analysts’ consensus estimates of $6.77 by $0.49. The business had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $15.07 billion. Chubb had a net margin of 18.10% and a return on equity of 14.47%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.14 EPS. Sell-side analysts forecast that Chubb Limited will post 27.26 earnings per share for the current fiscal year.

Chubb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were paid a $1.02 dividend. This is a boost from Chubb’s previous quarterly dividend of $0.97. This represents a $4.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, June 12th. Chubb’s payout ratio is currently 14.43%.

Insiders Place Their Bets

In other Chubb news, COO John W. Keogh sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares in the company, valued at $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is owned by insiders.

Chubb 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.