California State Teachers Retirement System increased its stake in shares of Chubb Ltd (NYSE:CB) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 822,707 shares of the financial services provider’s stock after buying an additional 4,929 shares during the quarter. California State Teachers Retirement System’s holdings in Chubb were worth $120,222,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in CB. Financial Gravity Companies Inc. bought a new stake in Chubb during the fourth quarter worth $103,000. Welch Group LLC bought a new stake in Chubb during the fourth quarter worth $110,000. Focused Wealth Management Inc bought a new stake in Chubb during the fourth quarter worth $117,000. Horan Capital Advisors LLC. bought a new stake in Chubb during the third quarter worth $133,000. Finally, Covenant Multifamily Offices LLC bought a new stake in Chubb during the fourth quarter worth $135,000. Institutional investors and hedge funds own 89.16% of the company’s stock.
Chubb Ltd (NYSE CB) opened at $144.00 on Monday. The stock has a market capitalization of $66,830.00, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.30 and a quick ratio of 0.30. Chubb Ltd has a 12 month low of $133.82 and a 12 month high of $157.50.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.84 annualized dividend and a dividend yield of 1.97%. Chubb’s payout ratio is 32.20%.
Chubb declared that its board has authorized a stock repurchase program on Thursday, December 21st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Several equities research analysts recently issued reports on CB shares. Wells Fargo & Co set a $169.00 price target on Chubb and gave the stock a “buy” rating in a report on Wednesday, November 29th. Goldman Sachs Group started coverage on Chubb in a report on Monday, December 4th. They set a “buy” rating and a $167.00 price target for the company. Credit Suisse Group reiterated a “neutral” rating and set a $156.00 price target on shares of Chubb in a report on Tuesday, December 19th. Zacks Investment Research upgraded Chubb from a “hold” rating to a “buy” rating and set a $164.00 price target for the company in a report on Wednesday, January 3rd. Finally, Bank of America upped their price objective on Chubb from $168.00 to $171.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $165.25.
In other news, CEO Evan G. Greenberg sold 95,761 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $145.56, for a total transaction of $13,938,971.16. Following the completion of the transaction, the chief executive officer now owns 1,367,229 shares in the company, valued at approximately $199,013,853.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Juan C. Andrade sold 9,373 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $146.06, for a total value of $1,369,020.38. Following the transaction, the insider now owns 110,195 shares of the company’s stock, valued at approximately $16,095,081.70. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.
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Chubb Company Profile
Chubb Limited is a holding company. The Company, through its subsidiaries, provides a range of insurance and reinsurance products and services to clients around the world. Its segments include North America Commercial property and casualty (P&C) Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance and Life Insurance.
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