Chubb Ltd (CB) Position Lessened by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board reduced its position in shares of Chubb Ltd (NYSE:CB) by 2.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 38,437 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Chubb were worth $5,384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Chubb by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 37,280,448 shares of the financial services provider’s stock valued at $4,982,160,000 after purchasing an additional 417,887 shares during the period. Vanguard Group Inc boosted its holdings in Chubb by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 37,280,448 shares of the financial services provider’s stock valued at $4,982,160,000 after purchasing an additional 417,887 shares during the period. BlackRock Inc. boosted its holdings in Chubb by 2.9% in the 4th quarter. BlackRock Inc. now owns 31,252,910 shares of the financial services provider’s stock valued at $4,037,250,000 after purchasing an additional 875,406 shares during the period. Bank of America Corp DE boosted its holdings in Chubb by 29.9% in the 4th quarter. Bank of America Corp DE now owns 13,576,704 shares of the financial services provider’s stock valued at $1,753,839,000 after purchasing an additional 3,125,070 shares during the period. Finally, WCM Investment Management LLC boosted its holdings in Chubb by 4.4% in the 4th quarter. WCM Investment Management LLC now owns 6,998,830 shares of the financial services provider’s stock valued at $904,109,000 after purchasing an additional 291,892 shares during the period. 88.71% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have weighed in on CB. Zacks Investment Research downgraded shares of Chubb from a “hold” rating to a “sell” rating in a report on Wednesday, February 6th. Morgan Stanley downgraded shares of Chubb from an “overweight” rating to an “equal weight” rating in a report on Wednesday. Sandler O’Neill downgraded shares of Chubb from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Raymond James reduced their price target on shares of Chubb from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Monday, February 11th. Finally, Wells Fargo & Co set a $160.00 price target on shares of Chubb and gave the company a “buy” rating in a report on Friday, January 18th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $151.33.

NYSE:CB opened at $140.21 on Wednesday. The stock has a market cap of $64.25 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.31 and a beta of 0.82. Chubb Ltd has a 52 week low of $119.54 and a 52 week high of $141.59. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24.

Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, February 5th. The financial services provider reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.09. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.80 billion. Chubb had a net margin of 11.72% and a return on equity of 8.66%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $3.17 EPS. On average, equities research analysts expect that Chubb Ltd will post 10.61 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Thursday, March 21st. Chubb’s payout ratio is 30.93%.

In other news, insider John J. Lupica sold 17,879 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $134.95, for a total transaction of $2,412,771.05. Following the completion of the transaction, the insider now directly owns 192,265 shares of the company’s stock, valued at approximately $25,946,161.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Bennett Medini sold 2,437 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $133.94, for a total transaction of $326,411.78. Following the transaction, the insider now directly owns 95,101 shares of the company’s stock, valued at $12,737,827.94. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

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About Chubb

Chubb Limited, through its subsidiaries, provides insurance and reinsurance products worldwide. Its North America Commercial P&C Insurance segment offers commercial property, marine, general casualty, workers' compensation, package policies, and risk management; and professional lines, marine, construction, environmental, medical, cyber risk, and excess casualty, as well as group accident and health insurance to large, middle market, and small commercial businesses in the United States, Canada, and Bermuda.

Further Reading: Depreciation

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Institutional Ownership by Quarter for Chubb (NYSE:CB)

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