Illinois Municipal Retirement Fund Acquires 5,982 Shares of Chubb Limited $CB

Illinois Municipal Retirement Fund raised its holdings in shares of Chubb Limited (NYSE:CB) by 13.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 50,596 shares of the financial services provider’s stock after acquiring an additional 5,982 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Chubb were worth $14,281,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CB. Harbor Capital Advisors Inc. boosted its position in shares of Chubb by 93.6% during the third quarter. Harbor Capital Advisors Inc. now owns 91 shares of the financial services provider’s stock valued at $26,000 after buying an additional 44 shares during the last quarter. Cedar Mountain Advisors LLC boosted its holdings in shares of Chubb by 155.6% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 92 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 56 shares during the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of Chubb in the second quarter worth approximately $32,000. Cornerstone Planning Group LLC raised its holdings in shares of Chubb by 81.5% during the third quarter. Cornerstone Planning Group LLC now owns 118 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 53 shares during the last quarter. Finally, Heartwood Wealth Advisors LLC purchased a new position in shares of Chubb during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Trading Up 1.0%

Shares of CB opened at $332.42 on Friday. The company’s fifty day moving average is $310.12 and its 200 day moving average is $290.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 0.24. The stock has a market capitalization of $130.82 billion, a PE ratio of 12.92, a P/E/G ratio of 2.10 and a beta of 0.49. Chubb Limited has a fifty-two week low of $263.14 and a fifty-two week high of $335.60.

Chubb (NYSE:CB) last released its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, beating the consensus estimate of $6.33 by $1.19. Chubb had a return on equity of 13.15% and a net margin of 17.36%.The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $11.11 billion. During the same quarter in the previous year, the company posted $6.02 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Sell-side analysts expect that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 12th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. Chubb’s payout ratio is 15.08%.

Analysts Set New Price Targets

A number of research firms have commented on CB. HSBC lifted their target price on shares of Chubb from $354.00 to $357.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Citigroup lifted their price objective on Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets increased their price objective on shares of Chubb from $283.00 to $326.00 and gave the stock a “market perform” rating in a research note on Tuesday. Raymond James Financial raised their target price on Chubb from $340.00 to $380.00 and gave the stock a “strong-buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. raised their target price on shares of Chubb from $327.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Chubb presently has an average rating of “Hold” and a consensus price target of $340.09.

Insider Activity

In other news, EVP Timothy Alan Boroughs sold 27,817 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $331.98, for a total value of $9,234,687.66. Following the sale, the executive vice president directly owned 11,810 shares in the company, valued at approximately $3,920,683.80. This trade represents a 70.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Evan G. Greenberg sold 15,060 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the sale, the chief executive officer directly owned 511,576 shares in the company, valued at approximately $169,572,096.72. This represents a 2.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 54,307 shares of company stock valued at $17,611,016 over the last 90 days. 0.77% of the stock is currently owned by corporate 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.