South Dakota Investment Council Lowers Holdings in Chubb Limited $CB

South Dakota Investment Council reduced its stake in shares of Chubb Limited (NYSE:CB) by 15.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,614 shares of the financial services provider’s stock after selling 2,100 shares during the quarter. South Dakota Investment Council’s holdings in Chubb were worth $3,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Mitchell & Pahl Private Wealth LLC grew its stake in Chubb by 0.5% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 7,381 shares of the financial services provider’s stock valued at $2,083,000 after acquiring an additional 35 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of Chubb by 7.4% during the third quarter. Golden State Wealth Management LLC now owns 525 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 36 shares in the last quarter. Covestor Ltd lifted its position in shares of Chubb by 26.1% in the third quarter. Covestor Ltd now owns 179 shares of the financial services provider’s stock worth $51,000 after buying an additional 37 shares in the last quarter. CENTRAL TRUST Co boosted its stake in Chubb by 1.0% during the third quarter. CENTRAL TRUST Co now owns 3,573 shares of the financial services provider’s stock valued at $1,008,000 after buying an additional 37 shares during the last quarter. Finally, JT Stratford LLC grew its holdings in Chubb by 3.5% during the 2nd quarter. JT Stratford LLC now owns 1,127 shares of the financial services provider’s stock valued at $327,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Performance

Shares of NYSE:CB opened at $334.17 on Thursday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $130.38 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 2.15 and a beta of 0.46. Chubb Limited has a 12 month low of $264.10 and a 12 month high of $345.67. The firm’s 50-day moving average is $317.53 and its 200 day moving average is $297.04.

Chubb (NYSE:CB) last released its earnings results on Tuesday, February 3rd. The financial services provider reported $7.52 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $11.11 billion. During the same quarter in the prior year, the firm posted $6.02 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Research analysts predict that Chubb Limited will post 21.52 EPS for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Friday, March 13th will be paid a $0.97 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. Chubb’s dividend payout ratio (DPR) is presently 15.08%.

Insider Buying and Selling at Chubb

In related news, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $331.47, for a total transaction of $4,991,938.20. Following the completion of the sale, the chief executive officer owned 511,576 shares in the company, valued at $169,572,096.72. This trade represents a 2.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the sale, the executive vice president directly owned 11,810 shares of the company’s stock, valued at approximately $3,920,683.80. This trade represents a 70.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Evercore increased their target price on Chubb from $346.00 to $347.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods increased their price objective on shares of Chubb from $355.00 to $373.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Piper Sandler lifted their price objective on shares of Chubb from $283.00 to $319.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Raymond James Financial boosted their target price on shares of Chubb from $340.00 to $380.00 and gave the stock a “strong-buy” rating in a report on Monday, February 9th. Finally, Wolfe Research increased their price target on shares of Chubb from $364.00 to $372.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $340.81.

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.