Oregon Public Employees Retirement Fund Sells 80 Shares of Chubb Limited (NYSE:CB)

Oregon Public Employees Retirement Fund reduced its holdings in Chubb Limited (NYSE:CB) by 0.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,029 shares of the financial services provider’s stock after selling 80 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Chubb were worth $9,672,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CB. Brighton Jones LLC raised its position in shares of Chubb by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,945 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 221 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Chubb during the fourth quarter worth $205,000. Bank Pictet & Cie Europe AG bought a new stake in shares of Chubb during the fourth quarter worth $1,320,000. Norden Group LLC bought a new stake in shares of Chubb during the fourth quarter worth $220,000. Finally, Modera Wealth Management LLC increased its position in shares of Chubb by 17.0% during the fourth quarter. Modera Wealth Management LLC now owns 2,123 shares of the financial services provider’s stock worth $587,000 after acquiring an additional 308 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CB. UBS Group increased their price objective on shares of Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Piper Sandler raised their target price on shares of Chubb from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. JPMorgan Chase & Co. raised their target price on shares of Chubb from $300.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Jefferies Financial Group raised their target price on shares of Chubb from $307.00 to $308.00 and gave the company a “hold” rating in a research report on Friday, April 11th. Finally, Morgan Stanley raised their target price on shares of Chubb from $280.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $307.53.

Insider Activity

In related news, COO John W. Keogh sold 85,083 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $290.24, for a total transaction of $24,694,489.92. Following the transaction, the chief operating officer owned 237,728 shares in the company, valued at $68,998,174.72. The trade was a 26.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is owned by insiders.

Chubb Price Performance

CB stock opened at $279.82 on Thursday. The firm has a market cap of $112.13 billion, a P/E ratio of 13.47, a P/E/G ratio of 3.22 and a beta of 0.53. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $287.90 and its two-hundred day moving average price is $281.94. Chubb Limited has a 12 month low of $251.42 and a 12 month high of $306.91.

Chubb (NYSE:CB) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.40. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $11.22 billion. Chubb had a net margin of 15.05% and a return on equity of 12.37%. On average, analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, June 13th. This is an increase from Chubb’s previous quarterly dividend of $0.91. Chubb’s payout ratio is presently 18.67%.

Chubb declared that its board has authorized a stock buyback plan on Thursday, May 15th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Chubb Company Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.