Kentucky Retirement Systems Insurance Trust Fund Reduces Stock Position in Chubb Limited (NYSE:CB)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Chubb Limited (NYSE:CB) by 15.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,122 shares of the financial services provider’s stock after selling 1,975 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Chubb were worth $3,207,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust boosted its holdings in Chubb by 0.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 7,516 shares of the financial services provider’s stock valued at $1,917,000 after acquiring an additional 40 shares during the period. Steigerwald Gordon & Koch Inc. lifted its position in shares of Chubb by 1.9% during the second quarter. Steigerwald Gordon & Koch Inc. now owns 2,127 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 40 shares in the last quarter. LVW Advisors LLC boosted its stake in shares of Chubb by 0.3% in the third quarter. LVW Advisors LLC now owns 11,754 shares of the financial services provider’s stock valued at $3,390,000 after purchasing an additional 40 shares during the period. Wealth Effects LLC grew its holdings in shares of Chubb by 3.0% in the third quarter. Wealth Effects LLC now owns 1,370 shares of the financial services provider’s stock valued at $395,000 after purchasing an additional 40 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. increased its stake in Chubb by 1.1% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,706 shares of the financial services provider’s stock worth $1,069,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 0.4 %

CB stock opened at $288.00 on Friday. The company has a market cap of $116.09 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 6.64 and a beta of 0.67. The company has a fifty day moving average price of $287.84 and a 200 day moving average price of $273.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.28 and a quick ratio of 0.28. Chubb Limited has a 12 month low of $216.90 and a 12 month high of $302.05.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.74. Chubb had a net margin of 18.32% and a return on equity of 15.46%. The business had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $14.16 billion. During the same quarter in the prior year, the firm earned $4.95 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Sell-side analysts expect that Chubb Limited will post 21.66 earnings per share for the current year.

Wall Street Analyst Weigh In

CB has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price target on shares of Chubb from $291.00 to $294.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Barclays assumed coverage on Chubb in a report on Wednesday, September 4th. They issued an “overweight” rating and a $349.00 target price for the company. Bank of America boosted their target price on Chubb from $275.00 to $282.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Morgan Stanley increased their price target on Chubb from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price objective on Chubb from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Chubb has an average rating of “Hold” and a consensus target price of $287.37.

Insider Buying and Selling at Chubb

In related news, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total transaction of $8,771,753.25. Following the transaction, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This represents a 4.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Juan Luis Ortega sold 3,921 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $273.06, for a total value of $1,070,668.26. Following the completion of the sale, the executive vice president now directly owns 44,632 shares of the company’s stock, valued at approximately $12,187,213.92. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,636 shares of company stock valued at $24,874,208. 0.86% of the stock is owned by company insiders.

Chubb 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.