Texas Permanent School Fund Corp Decreases Stake in Chubb Limited (NYSE:CB)

Texas Permanent School Fund Corp lowered its position in Chubb Limited (NYSE:CB) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,780 shares of the financial services provider’s stock after selling 463 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Chubb were worth $21,710,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. SPC Financial Inc. lifted its stake in Chubb by 1.0% in the first quarter. SPC Financial Inc. now owns 16,156 shares of the financial services provider’s stock worth $4,187,000 after acquiring an additional 163 shares during the last quarter. Lester Murray Antman dba SimplyRich lifted its position in shares of Chubb by 1.1% during the 1st quarter. Lester Murray Antman dba SimplyRich now owns 7,023 shares of the financial services provider’s stock worth $1,820,000 after buying an additional 74 shares during the last quarter. Team Hewins LLC lifted its position in shares of Chubb by 4.1% during the 1st quarter. Team Hewins LLC now owns 1,408 shares of the financial services provider’s stock worth $366,000 after buying an additional 56 shares during the last quarter. Catalina Capital Group LLC purchased a new stake in shares of Chubb during the 1st quarter worth approximately $563,000. Finally, Avidian Wealth Solutions LLC lifted its position in shares of Chubb by 29.5% during the 1st quarter. Avidian Wealth Solutions LLC now owns 1,176 shares of the financial services provider’s stock worth $305,000 after buying an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

CB has been the subject of several recent analyst reports. Piper Sandler restated an “overweight” rating and set a $282.00 price objective on shares of Chubb in a research report on Monday, April 1st. The Goldman Sachs Group boosted their price objective on shares of Chubb from $228.00 to $254.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JMP Securities restated a “market outperform” rating and set a $280.00 price objective on shares of Chubb in a research report on Monday, April 15th. William Blair cut shares of Chubb from a “market perform” rating to an “underperform” rating in a report on Friday, June 28th. Finally, StockNews.com cut shares of Chubb from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $267.65.

Insiders Place Their Bets

In related news, COO John W. Keogh sold 34,707 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total value of $8,745,469.86. Following the sale, the chief operating officer now directly owns 284,136 shares in the company, valued at approximately $71,596,589.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Annmarie T. Hagan sold 1,529 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $263.81, for a total value of $403,365.49. Following the sale, the chief accounting officer now directly owns 7,718 shares of the company’s stock, valued at approximately $2,036,085.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO John W. Keogh sold 34,707 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the completion of the sale, the chief operating officer now directly owns 284,136 shares in the company, valued at $71,596,589.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,552 shares of company stock worth $12,149,985. Corporate insiders own 0.86% of the company’s stock.

Chubb Stock Performance

CB traded up $1.72 during trading on Thursday, hitting $258.04. The stock had a trading volume of 1,520,642 shares, compared to its average volume of 1,653,202. The firm has a market capitalization of $104.78 billion, a P/E ratio of 11.38, a PEG ratio of 6.11 and a beta of 0.66. Chubb Limited has a twelve month low of $186.52 and a twelve month high of $275.41. The company’s 50-day moving average price is $260.29 and its 200 day moving average price is $250.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.29.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.29 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.41 EPS. On average, equities research analysts forecast that Chubb Limited will post 21.03 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were given a dividend of $0.91 per share. This is a positive change from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, June 14th. Chubb’s payout ratio is presently 16.16%.

About Chubb

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.