Public Employees Retirement Association of Colorado reduced its stake in shares of Chubb Limited (NYSE:CB) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 537,766 shares of the financial services provider’s stock after selling 6,603 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.12% of Chubb worth $85,473,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of CB. Viking Global Investors LP lifted its holdings in shares of Chubb by 54.5% in the first quarter. Viking Global Investors LP now owns 4,181,823 shares of the financial services provider’s stock valued at $660,603,000 after purchasing an additional 1,475,712 shares in the last quarter. Barclays PLC lifted its holdings in shares of Chubb by 57.0% in the first quarter. Barclays PLC now owns 1,327,542 shares of the financial services provider’s stock valued at $209,712,000 after purchasing an additional 482,134 shares in the last quarter. Morgan Stanley lifted its stake in shares of Chubb by 17.5% during the first quarter. Morgan Stanley now owns 2,374,334 shares of the financial services provider’s stock valued at $375,073,000 after buying an additional 353,933 shares during the period. Amundi Asset Management US Inc. lifted its stake in shares of Chubb by 24.8% during the first quarter. Amundi Asset Management US Inc. now owns 1,771,609 shares of the financial services provider’s stock valued at $279,859,000 after buying an additional 351,677 shares during the period. Finally, Mn Services Vermogensbeheer B.V. purchased a new position in shares of Chubb during the second quarter valued at approximately $44,250,000. Institutional investors own 86.68% of the company’s stock.
In related news, insider John J. Lupica sold 10,140 shares of the business’s stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $180.00, for a total transaction of $1,825,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Juan Luis Ortega sold 3,650 shares of the firm’s stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $180.92, for a total value of $660,358.00. The disclosure for this sale can be found here. Insiders have sold 59,188 shares of company stock worth $10,920,772 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.
NYSE CB traded up $1.66 during mid-day trading on Thursday, reaching $183.90. 33,699 shares of the company’s stock traded hands, compared to its average volume of 1,876,798. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. Chubb Limited has a 1-year low of $116.50 and a 1-year high of $187.90. The company has a fifty day simple moving average of $180.65 and a 200-day simple moving average of $170.78. The company has a market cap of $80.68 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 1.45 and a beta of 0.73.
Chubb (NYSE:CB) last released its earnings results on Monday, July 26th. The financial services provider reported $3.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.61. The company had revenue of $9.55 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Chubb had a return on equity of 8.70% and a net margin of 20.42%. The business’s revenue was up 23.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.56) EPS. Equities research analysts forecast that Chubb Limited will post 12.42 earnings per share for the current fiscal year.
Chubb declared that its board has initiated a share buyback program on Monday, July 19th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 6.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, October 8th. Stockholders of record on Friday, September 17th were paid a $0.80 dividend. The ex-dividend date was Thursday, September 16th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.74%. Chubb’s dividend payout ratio (DPR) is presently 43.78%.
Chubb Ltd. is a holding company, which engages in the provision of commercial and personal property and casualty insurance, personal accident and accident and health (A&H), reinsurance, and life insurance. It operates through the following segments: 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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