VIRGINIA RETIREMENT SYSTEMS ET Al Invests $14.56 Million in Chubb Limited $CB

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Chubb Limited (NYSE:CB) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 42,729 shares of the financial services provider’s stock, valued at approximately $14,559,000.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Chubb by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 221 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Chubb during the 4th quarter valued at $205,000. Woodline Partners LP increased its position in Chubb by 13.0% during the first quarter. Woodline Partners LP now owns 12,599 shares of the financial services provider’s stock worth $3,805,000 after buying an additional 1,449 shares in the last quarter. Sivia Capital Partners LLC increased its position in Chubb by 14.4% during the second quarter. Sivia Capital Partners LLC now owns 1,392 shares of the financial services provider’s stock worth $403,000 after buying an additional 175 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Chubb by 9.3% in the second quarter. Sei Investments Co. now owns 201,226 shares of the financial services provider’s stock worth $58,305,000 after acquiring an additional 17,155 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Chubb from $358.00 to $356.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 23rd. Citizens Jmp reissued a “market outperform” rating and issued a $400.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Weiss Ratings lowered shares of Chubb from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, August 27th. The Goldman Sachs Group raised their price target on shares of Chubb from $362.00 to $386.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Finally, Citigroup reiterated a “market outperform” rating on shares of Chubb in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $361.00.

Chubb Stock Down 0.1%

Shares of NYSE:CB opened at $341.16 on Tuesday. The stock has a 50-day simple moving average of $348.24 and a 200-day simple moving average of $334.58. The stock has a market capitalization of $131.62 billion, a P/E ratio of 12.07, a PEG ratio of 1.63 and a beta of 0.37. Chubb Limited has a 1 year low of $265.30 and a 1 year high of $365.91. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.29 and a current ratio of 0.29.

Chubb (NYSE:CB) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $7.26 EPS for the quarter, beating 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 firm had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same quarter last year, the firm posted $6.14 earnings per share. Chubb’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts forecast that Chubb Limited will post 27.35 earnings per share for the current year.

Chubb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Chubb’s dividend payout ratio (DPR) is currently 14.43%.

Insider Buying and Selling at Chubb

In related news, EVP Joseph Wayland sold 8,502 shares of the stock in a transaction on Tuesday, July 28th. The stock was 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 in the company, valued at approximately $12,302,860.46. This represents a 20.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael P. Connors sold 5,500 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $1,897,500.00. Following the completion of the transaction, the director directly owned 12,803 shares in the company, valued at $4,417,035. This trade represents a 30.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.37% of the company’s stock.

About Chubb

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.