Illinois Municipal Retirement Fund Purchases 5,982 Shares of Chubb Limited $CB

Illinois Municipal Retirement Fund increased its position in Chubb Limited (NYSE:CB) by 13.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,596 shares of the financial services provider’s stock after buying an additional 5,982 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Chubb were worth $14,281,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CB. Norges Bank bought a new position in shares of Chubb during the second quarter valued at about $1,195,137,000. Bank of America Corp DE increased its holdings in Chubb by 11.6% during the 2nd quarter. Bank of America Corp DE now owns 4,929,858 shares of the financial services provider’s stock valued at $1,428,278,000 after purchasing an additional 513,852 shares during the period. London Co. of Virginia raised its position in Chubb by 211.0% during the 2nd quarter. London Co. of Virginia now owns 737,090 shares of the financial services provider’s stock valued at $213,559,000 after purchasing an additional 500,116 shares during the last quarter. Altrinsic Global Advisors LLC raised its position in Chubb by 46.9% during the 2nd quarter. Altrinsic Global Advisors LLC now owns 1,392,846 shares of the financial services provider’s stock valued at $403,535,000 after purchasing an additional 444,557 shares during the last quarter. Finally, Troy Asset Management Ltd lifted its holdings in Chubb by 89.1% in the 2nd quarter. Troy Asset Management Ltd now owns 793,427 shares of the financial services provider’s stock worth $229,872,000 after buying an additional 373,872 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CB shares. Raymond James Financial boosted their target price on Chubb from $340.00 to $380.00 and gave the company a “strong-buy” rating in a research note on Monday. Morgan Stanley set a $350.00 price objective on shares of Chubb in a research report on Friday, January 16th. Citigroup upped their price objective on shares of Chubb from $335.00 to $385.00 and gave the stock a “buy” rating in a report on Monday. Evercore lifted their target price on shares of Chubb from $346.00 to $347.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Chubb from $355.00 to $373.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Chubb presently has a consensus rating of “Hold” and a consensus price target of $340.09.

Insiders Place Their Bets

In other news, CEO Evan G. Greenberg sold 15,060 shares of Chubb stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $331.47, for a total value of $4,991,938.20. Following the completion of the transaction, the chief executive officer owned 511,576 shares of the company’s stock, valued at $169,572,096.72. The trade was a 2.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Alan Boroughs sold 27,817 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $331.98, for a total transaction of $9,234,687.66. Following the completion of the transaction, the executive vice president owned 11,810 shares in the company, valued at approximately $3,920,683.80. The trade was a 70.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,307 shares of company stock valued at $17,611,016 in the last quarter. 0.77% of the stock is owned by company insiders.

Chubb Stock Up 1.0%

Shares of Chubb stock opened at $332.42 on Friday. Chubb Limited has a 1 year low of $263.14 and a 1 year high of $335.60. The firm has a market cap of $130.82 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 2.10 and a beta of 0.49. The company has a 50-day moving average of $310.12 and a 200 day moving average of $290.65. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.24 and a quick ratio of 0.27.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $7.52 earnings per share for the quarter, topping analysts’ consensus estimates of $6.33 by $1.19. Chubb had a net margin of 17.36% and a return on equity of 13.15%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $11.11 billion. During the same quarter in the prior year, the company earned $6.02 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The business also recently disclosed 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. This represents a $3.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, December 12th. Chubb’s dividend payout ratio (DPR) is 15.08%.

About Chubb

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.