Municipal Employees Retirement System of Michigan lowered its position in shares of Chubb Ltd (NYSE:CB) by 10.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,046 shares of the financial services provider’s stock after selling 2,590 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Chubb were worth $3,367,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Financial Gravity Companies Inc. bought a new position in Chubb in the 4th quarter worth $103,000. Welch Group LLC bought a new position in Chubb in the 4th quarter worth $110,000. Focused Wealth Management Inc bought a new position in Chubb in the 4th quarter worth $117,000. Horan Capital Advisors LLC. bought a new position in Chubb in the 3rd quarter worth $133,000. Finally, Covenant Multifamily Offices LLC bought a new position in Chubb in the 4th quarter worth $135,000. 89.20% of the stock is owned by institutional investors and hedge funds.
NYSE:CB opened at $134.13 on Friday. The stock has a market cap of $63,009.68, a price-to-earnings ratio of 16.70, a PEG ratio of 1.32 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 fifty-two week low of $131.14 and a fifty-two week high of $157.50.
Chubb (NYSE:CB) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.86. The business had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.64 billion. Chubb had a net margin of 11.87% and a return on equity of 7.52%. Chubb’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business earned $2.72 EPS. equities research analysts expect that Chubb Ltd will post 10.26 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 20th. Shareholders 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 dividend on an annualized basis and a yield of 2.12%. Chubb’s dividend payout ratio is currently 35.37%.
Chubb announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 21st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
Several research analysts recently issued reports on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $165.00 price target on shares of Chubb in a research note on Wednesday. Bank of America increased their price target on shares of Chubb from $168.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Wells Fargo reiterated a “buy” rating and issued a $169.00 price target on shares of Chubb in a research note on Tuesday, January 30th. Zacks Investment Research lowered shares of Chubb from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Deutsche Bank decreased their price target on shares of Chubb from $149.00 to $140.00 and set a “hold” rating for the company in a research note on Thursday, March 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. Chubb has a consensus rating of “Buy” and an average target price of $162.92.
In other news, insider Juan C. Andrade sold 9,373 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $146.06, for a total transaction of $1,369,020.38. Following the sale, the insider now owns 110,195 shares of the company’s stock, valued at approximately $16,095,081.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Philip V. Bancroft sold 55,675 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $140.94, for a total transaction of $7,846,834.50. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company 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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