New Mexico Educational Retirement Board Acquires 3,500 Shares of Chubb Limited (NYSE:CB)

New Mexico Educational Retirement Board grew its holdings in Chubb Limited (NYSE:CB) by 16.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,037 shares of the financial services provider’s stock after purchasing an additional 3,500 shares during the period. New Mexico Educational Retirement Board’s holdings in Chubb were worth $6,488,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CB. ZRC Wealth Management LLC purchased a new stake in shares of Chubb during the 4th quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Chubb during the 4th quarter valued at $29,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Chubb in the 4th quarter worth $32,000. Northwest Financial Advisors purchased a new position in shares of Chubb in the 4th quarter worth $33,000. Finally, Naples Money Management LLC bought a new stake in shares of Chubb in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Insider Buying and Selling at Chubb

In other news, CAO Annmarie T. Hagan sold 1,529 shares of the company’s 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 transaction, the chief accounting officer now directly owns 7,718 shares in the company, valued at $2,036,085.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Annmarie T. Hagan sold 1,529 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $263.81, for a total transaction of $403,365.49. Following the transaction, the chief accounting officer now owns 7,718 shares in the company, valued at $2,036,085.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John W. Keogh sold 34,707 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the transaction, the chief operating officer now owns 284,136 shares in the company, valued at $71,596,589.28. The disclosure for this sale can be found here. Insiders have sold 47,552 shares of company stock valued at $12,149,985 in the last quarter. 0.86% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CB has been the subject of a number of recent research reports. Evercore ISI boosted their price target on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Citigroup reiterated a “neutral” rating and set a $275.00 price target (up previously from $238.00) on shares of Chubb in a research note on Thursday, March 14th. HSBC restated a “hold” rating and issued a $270.00 price objective (down from $275.00) on shares of Chubb in a research note on Thursday, April 4th. Bank of America raised Chubb from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $244.00 to $266.00 in a report on Thursday, May 23rd. Finally, Morgan Stanley raised their price objective on Chubb from $258.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Chubb currently has an average rating of “Hold” and a consensus target price of $266.70.

Chubb Trading Down 2.7 %

NYSE CB traded down $6.95 during trading hours on Friday, hitting $255.08. 2,794,049 shares of the company were exchanged, compared to its average volume of 1,375,378. The stock has a market cap of $103.58 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 6.12 and a beta of 0.66. Chubb Limited has a 52 week low of $183.71 and a 52 week high of $275.41. The stock has a 50-day moving average price of $259.30 and a 200 day moving average price of $248.63. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.21.

Chubb (NYSE:CB) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.29 by $0.12. Chubb had a return on equity of 16.29% and a net margin of 17.99%. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same quarter in the prior year, the firm posted $4.41 EPS. Chubb’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts forecast that Chubb Limited will post 21.03 earnings per share for the current fiscal year.

Chubb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be paid 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 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, June 14th. Chubb’s dividend payout ratio (DPR) is currently 16.16%.

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.