New York State Common Retirement Fund Sells 29,718 Shares of Chubb Limited $CB

New York State Common Retirement Fund lowered its stake in shares of Chubb Limited (NYSE:CB) by 4.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 647,806 shares of the financial services provider’s stock after selling 29,718 shares during the period. New York State Common Retirement Fund’s holdings in Chubb were worth $182,843,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CB. Coastal Bridge Advisors LLC raised its holdings in Chubb by 2.7% in the 3rd quarter. Coastal Bridge Advisors LLC now owns 8,121 shares of the financial services provider’s stock valued at $2,292,000 after acquiring an additional 215 shares in the last quarter. Traynor Capital Management Inc. grew its holdings in shares of Chubb by 22.0% during the 3rd quarter. Traynor Capital Management Inc. now owns 861 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 155 shares in the last quarter. Field & Main Bank increased its position in shares of Chubb by 1.4% during the third quarter. Field & Main Bank now owns 5,510 shares of the financial services provider’s stock valued at $1,555,000 after purchasing an additional 77 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Chubb by 4.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,178 shares of the financial services provider’s stock valued at $15,009,000 after purchasing an additional 2,107 shares in the last quarter. Finally, AGH Wealth Advisors LLC lifted its position in Chubb by 5.7% in the third quarter. AGH Wealth Advisors LLC now owns 853 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 46 shares during the period. Institutional investors own 83.81% of the company’s stock.

Insider Activity at Chubb

In other news, EVP Timothy Alan Boroughs sold 850 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $295.19, for a total value of $250,911.50. Following the completion of the sale, the executive vice president directly owned 1,585 shares in the company, valued at approximately $467,876.15. This trade represents a 34.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Joseph F. Wayland sold 5,830 shares of Chubb stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $297.08, for a total value of $1,731,976.40. Following the completion of the transaction, the executive vice president directly owned 60,593 shares of the company’s stock, valued at $18,000,968.44. This represents a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 33,635 shares of company stock valued at $9,970,735 in the last three months. Corporate insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CB shares. Bank of America decreased their price target on shares of Chubb from $279.00 to $259.00 and set an “underperform” rating on the stock in a research note on Friday, January 16th. Barclays raised their price objective on shares of Chubb from $317.00 to $339.00 and gave the stock an “equal weight” rating in a report on Thursday, January 8th. Cantor Fitzgerald upped their target price on shares of Chubb from $300.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Hsbc Global Res upgraded shares of Chubb from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Chubb from $321.00 to $327.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $323.81.

Chubb Price Performance

NYSE:CB opened at $303.70 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.20. The firm has a market cap of $119.52 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.94 and a beta of 0.51. Chubb Limited has a 12 month low of $263.14 and a 12 month high of $316.94. The company’s 50-day moving average price is $304.38 and its two-hundred day moving average price is $287.09.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 12th were given a dividend of $0.97 per share. The ex-dividend date was Friday, December 12th. This represents a $3.88 dividend on an annualized basis and a yield of 1.3%. Chubb’s dividend payout ratio is 16.19%.

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.