Teacher Retirement System of Texas Sells 16,161 Shares of Chubb Limited (NYSE:CB)

Teacher Retirement System of Texas reduced its position in Chubb Limited (NYSE:CB) by 23.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,807 shares of the financial services provider’s stock after selling 16,161 shares during the quarter. Teacher Retirement System of Texas’ holdings in Chubb were worth $14,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Ironwood Investment Counsel LLC boosted its position in shares of Chubb by 2.1% in the third quarter. Ironwood Investment Counsel LLC now owns 1,721 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 35 shares during the period. Continuum Advisory LLC boosted its position in shares of Chubb by 56.5% in the third quarter. Continuum Advisory LLC now owns 97 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 35 shares during the period. First Financial Bank Trust Division boosted its position in shares of Chubb by 3.7% in the fourth quarter. First Financial Bank Trust Division now owns 1,026 shares of the financial services provider’s stock worth $283,000 after purchasing an additional 37 shares during the period. Rede Wealth LLC boosted its position in shares of Chubb by 2.0% in the fourth quarter. Rede Wealth LLC now owns 1,900 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 37 shares during the period. Finally, Sfmg LLC boosted its position in shares of Chubb by 2.4% in the third quarter. Sfmg LLC now owns 1,681 shares of the financial services provider’s stock worth $485,000 after purchasing an additional 40 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Chubb Price Performance

Chubb stock opened at $291.08 on Friday. The company has a market cap of $116.55 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 3.36 and a beta of 0.66. The firm’s fifty day moving average is $276.57 and its 200 day moving average is $281.30. The company has a quick ratio of 0.28, a current ratio of 0.25 and a debt-to-equity ratio of 0.21. Chubb Limited has a 52-week low of $238.85 and a 52-week high of $302.05.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Sell-side analysts forecast that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Friday, March 14th. Chubb’s dividend payout ratio is currently 16.02%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $325.00 price target on shares of Chubb in a research report on Wednesday, January 29th. Hsbc Global Res raised shares of Chubb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their target price on shares of Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. HSBC raised shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 target price on the stock in a report on Wednesday, March 5th. Finally, Wells Fargo & Company lowered their target price on shares of Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $301.00.

Insider Activity

In other news, CAO George F. Ohsiek sold 763 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.41, for a total value of $221,582.83. Following the transaction, the chief accounting officer now directly owns 20,044 shares in the company, valued at approximately $5,820,978.04. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Joseph F. Wayland sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the transaction, the executive vice president now owns 77,703 shares in the company, valued at approximately $22,297,652.88. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,470 shares of company stock valued at $18,562,730. 0.86% of the stock is currently owned by company insiders.

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.